Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. Kuwait Energy has said that by focusing on its Iraqi operations, it is protected against oil price fluctuations, allowing it to sustain growth and a strong balance sheet even under volatile market conditions. In its Financial Statement for 1st Half 2017, the company says: "Our finances reflect the continued growth in the […]
Iraqi Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] (pictured) has said an agreement will soon be signed with Iran to jointly invest in two oil fields shared between the two countries. Last month, Iraq’s Ambassador to Tehran, Rajih al-Mussawi, said his country was considering a plan to cooperate with Iran to develop the Azadegan oil […]
By John Lee. Turkish President Recep Tayyip Erdoğan (pictured) has threatened to invade Iraq, and said he could cut off the oil export pipeline from Iraq to the Turkish port of Ceyhan, following the vote supporting independence in Iraqi Kurdistan. "We have the tap," he said. "It is done once, we close the tap." The […]
UK-based Petrofac has been awarded a Front End Engineering Design (FEED) modification contract for the KOGAS AKKAS B.V. Nasiriya Gas Treatment Plant (GTP) in southern Iraq. Petrofac’s scope of work includes the modification and application of an existing field design to meet the needs of the Nasiriya GTP, and an estimation for the engineering, procurement […]
By Robert Cole, AMAR Foundation. Crescent Petroleum, one of the Middle East’s oldest and largest upstream oil companies, and Dana Gas, one of the largest private sector natural gas companies in the region, have joined forces to fund the running costs of a healthcare centre and vocational training centre for displaced people in the Kurdistan […]
Gazprom Neft Badra, operator of the Badra field, has undertaken the largest ever maritime shipment of oil for export in the company’s history, with 1.78 million barrels of hydrocarbons being despatched for the United States in the New Solution crude oil tanker. This is, to date, the second oil consignment to the American market by […]
Range Energy Resources has announced that Gas Plus Khalakan (GPK), the sole contractor of the Khalakan PSC in the Kurdistan Region of Iraq, issued an operations update regarding the Shewashan field. Shewashan #4: The 4th well drilled on the Shewashan field, Shewashan #4, has been completed as a deviated producer in the Qamchuqa reservoir formation […]
ShaMaran Petroleum has announced that drilling operations have commenced on the Chiya Khere ("CK-7") appraisal and development well in the Atrush Block in the Kurdistan Region of Iraq. CK-7 is located in the central area of the Atrush Block approximately 3 kilometres east of the Atrush 2 producing well and 3.5 kilometres west of the […]
Shares in Gulf Keystone Petroleum (GKP) were trading down 3 percent this morning following the announcement of its results for the half year ended 30 June 2017. Reuters quotes analysts at Cenkos Securities as saying that further clarity on payment is required before GKP can commit to proper capital expenditure. Highlights to 30 June 2017 […]
Russian oil company Rosneft has completed its due diligence on infrastructure of the export oil pipeline in Iraqi Kurdistan (‘KROP”) and will shortly finalise the legally binding documents on oil pipeline project under the Investment Agreement signed at St. Petersburg International Economic Forum in June 2017. The Kurdistan Regional Government of Iraq and the Company […]
By John Lee. Janus Global Operations (JGO) has announced that it has been selected by "an integrated oil and gas multinational corporation based in Malaysia", to provide security and risk management services for the company’s operations in central Iraq. Some 600 JGO U.S. and foreign national employees will be responsible, during the two-year contract, for […]
By John Lee. Oil giant Shell is trying to sell its stake in the Majnoon oilfield (pictured) in southern Iraq, following a failure to reach agreement with Iraq's Ministry of Oil. A Shell spokesman told UAE-based newspaper The National: “Following extensive discussions with the Ministry of Oil, the oil minister of Iraq formally endorsed a […]
