Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Latest statement by the Minister of Oil causes concerns The Minister of Oil, Mr. Jabbar. A.H. Luiebi, gave an interview to Ben Lando, of the reputable Iraqi Oil Report (IOR), that was […]
By John Lee. UK-based Cape plc, a provider of critical industrial services to the energy and natural resources sectors, has said that it is pursuing expansion in Iraq, where the Group was awarded initial small contracts from Kuwait Energy and GE during 2016. In its preliminary results for the twelve months to 31 December 2016, […]
By John Lee. Premier Oil has announced that it has "successfully exited" its position in Iraq. The company was awarded a 40-percent stake in the Block 12 concession in 2012, but said in December 2015 that it would assign its participating interest to the operator, Russia's Bashneft, which was subsequently acquired by Rosneft. (Source: Premier […]
By John Lee. The head of an Irish engineering firm has said his company is aiming to increase its work at Iraq's West Qurna oilfield. In an interview with John Reynolds for the Irish Independent, Michael Looby (pictured), Founder and Managing Director of ByrneLooby, added: "Southern Iraq is stable and well-developed. Our clients are very […]
By John Lee. The Iraqi Oil Ministry has said that the North Refinery Company (NRC) has successfully added 10,000 barrels per day (bpd) capacity at Kirkuk oil refinery. The new unit brings total capacity to 40,000 bpd, with another 10,000 bpd planned to be added by the end of the year. It will produce oil […]
Gazprom Neft Badra — a subsidiary of Russia's Gazprom Neft — has commissioned three new production wells (BD-2, P-14 and P-10) at the Badra field in Iraq. Total production across all three wells is running at 23,000 barrels per day, with daily production at the field totalling 77,000 barrels. All three wells are operating under […]
Shares in ShaMaran Petroleum gained 5 percent on Thursday after the company announced its financial and operating results for year ended December 31, 2016. Unless otherwise stated all currency amounts indicated as "$" in this news release are expressed in thousands of United States dollars. Highlights and accomplishments included: Construction of the 30,000 bopd Atrush […]
By John Lee. The Ministry of Oil has given more information on the new investment opportunity to build a new 300,000-bpd refinery in Basra's Faw (Fao). The refinery is capable of being extended by adding new units for the petrochemicals industries. The execution is according to the methods of BOT or BOO according to the […]
By John Lee. A spokesperson of the Iraqi oil ministry has told Rudaw that the Ministry is not aware of any agreement between Prime Minister Haider al-Abadi and the Patriotic Union of Kurdistan (PUK) to end disputes over oil production and exports from the disputed Kirkuk oil fields. Reuters quoted PUK deputy chief Kosrat Rasul […]
China'a Anton Oilfield Services (Antonoil) has announced that the Group's general workover and well completion project in Southern Iraq market was successfully started with the first well being completed on Tuesday. Acquiring in the third quarter of 2015 with an amount of approximately US$140.0 million and a contract duration of 3 years, the project commenced […]
By John Lee. The Ministry of Oil has extended the closing date for supplying information packs relating to the tenders for the new refineries in Kut and Samawa. The packs will be available until the close of business on 16th March 2017 (instead of Tuesday the 28th February), while the last date for receipt of […]
By John Lee. According to a report from Bloomberg, the International Energy Agency (IEA) has predicted that Iraq will retain its position as OPEC’s second-biggest oil producer, adding 700,000 barrels per day (bpd) to reach 5.4 million bpd by 2022. Most of the increase will come from southern oilfields, such as the Shell's Majnoon project. […]
