Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
Gazprom Neft Badra, a subsidiary of Russia's Gazprom Neft, has produced the five-millionth tonne of oil at its Badra oil field. Thanks to the application of cutting-edge production and transportation technologies, this outcome has been achieved in just over two and a half years’ of commercial production. Total cumulative oil production since the start of […]
By John Lee. Iraq's Ministry of Oil announced exports of 91.6 million barrels for February, earning revenue of $4.5 billion. This equates to 3.271 million barrels per day (bpd), and an average oil price of $49.127 per barrel. The southern ports of Basra acconted for 90.8 million barrels, which brought in $4.46 billion, while Kirkuk […]
A study by the Iraqi Government into a planned oil pipeline that would extend from Iraq to Jordan has revealed that the project will cost between 5 and 7 billion dollars. Jordanian press quoted energy minister Ibrahim Seif saying that a decision over the implementation of the project is expected from the Iraqi side soon. […]
By John Lee. Iraqi oil minister Jabar Ali al-Luaibi [Allibi] has ordered the completion of a new tourism facility at Muftiya City, on the Shatt al Arab. The 38-acre water city will included a waterpark, a leisure resort for families, and an aquarium. There will also be a zoo over 52 acres, a closed football […]
The state-owned Iraqi Oil Tankers Company (IOTC) has announced a tender for the purchase of two tankers; a" handy size" 20,000-25,000 DWT and VLCC tanker of 180,000-240,000 DWT: (Source: Ministry of Oil)
Jordan and Iraq have signed minutes of a Jordanian-Iraqi joint committee meetings which entails boosting trade exchange and speeding up construction of the oil pipeline between the two countries. The protocols also encompassed encouraging Iraqi investors in Jordan and opening the border post of Turabil, the main crossing point between Jordan and Iraq, and identifying […]
By John Lee. Iraqi oil minister Jabar Ali al-Luaibi [Allibi] has confirmed that the Ministry of Oil is working to reestablish the Iraqi National Oil Company (INOC), following ratification by the cabinet of the draft resolution to reestablish the company. The original INOC was founded in the 1960s, but was incorporated into the Ministry of […]
Global satcom specialist Marlink, based in France, UK-based service integrator Defaultroute and Iraqi Internet service provider Abr Al Manara have announed that they have joined forces to deliver a groundbreaking hybrid digital connectivity service resulting in a multi-million US dollar contract for a major Iraqi oil and gas company. Overcoming the challenges of poor terrestrial […]
By Tariq Shafiq and Ahmed Mousa Jiyad. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. A Position Statement: Towards Sound Oil Plans, Policy and Governance Through our constant follow-up of the development in the petroleum sector and particularly the activities, statements and information from/ […]
By Omar Sattarfor Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. On March 2, a military force affiliated with the Patriotic Union of Kurdistan (PUK) led by former President Jalal Talabani seized the North Oil Company in Kirkuk province. The military […]
Iran on Tuesday, March 14, began pumping 15,000 barrels/day of crude oil from Azar Oilfield which it shares with Iraq. Early production from the field, located in the border city of Mehran, began in a ceremony held in the presence of Iranian Minister of Petroleum Bijan Zangeneh. Azar Oilfield development project is aimed at production […]
Further to reports in the media this week, Gulf Keystone (GKP), operator of the Shaikan Field in the Kurdistan Region of Iraq, is today clarifying certain points regarding the marketing of Shaikan crude. Recent media does not correctly represent the views of the Company and its Executives. The inference is that the company does not know […]
