Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. Canada-based Range Energy Resources has announced that it has received loans totalling CDN$1,315,512 (USD 1 million) from non-arm’s length parties to continue to fulfill its obligations to joint venture participants so that the development of the Khalakan Block in the Kurdistan Region of Iraq can continue as well as provide general working […]
By John Lee. Iraqi oil minister Jabar Ali al-Luaibi [Allibi] has confirmed that Iraq has started to cut oil production in line with the OPEC agreement reached in Vienna. He said production has been cut by 160,000 barrels of crude oil per day from the start of the year, and that he hopes to reduce […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Analyzing December 2016 data prompts three disturbing remarks: First, there is more than 128% difference between what the Minister of Oil and the DG of SOMO said on how much Iraq should […]
By John Lee. Iraqi oil minister Jabar Ali al-Luaibi [Allibi] has told the Angolan oil company Sonangol to resume its work in developing the Qayara and Najmah oil fields in Nineveh governorate. In 2010 Sonangol was granted a 75-percent stake in the fields, along with North Oil Company (25%), at a price of $6.00 per barrel, […]
Gulf Keystone Petroleum (GKP) has announced that it has appointed Stuart Catterall as Chief Operating Officer ("COO") and a member of the Executive and Leadership teams. Catterall will have responsibility for operational and technical activities within GKP, across the full spectrum of activities including procurement, budgeting and HSSE and will direct the execution of the […]
By John Lee. Crude oil exports from the Iraq's southern ports reached a new high in December. Iraqi oil minister Jabar Ali al-Luaibi [Allibi] said in a statement on Monday that exports from the country's southern and central fields averaged 3.510 million barrels per day last month, which is up from the 3.407 million bpd […]
DNO ASA, the Norwegian oil and gas operator, has announced that the Peshkabir-2 well currently drilling in the Kurdistan region of Iraq has discovered oil in the Cretaceous horizon in the southern flank of the Peshkabir field. The well flowed at a stable rate of 3,800 barrels of 28° API oil per day on a […]
By Ali Mamouri for Al Monitor. Any views expressed here are those of the author, and do not necessarily reflect the views of Iraq Business News. Iran and Turkey are trying to extend their economic influence over Iraqi Kurdistan oil, even as controversy flares over surreptitious deals between Kurdistan and Turkey. Iraqi Kurdistan has been shipping […]
By John Lee. Iraq has begun reducing its crude oil output from the start of the year, in line with its OPEC commitments. Iraqi oil minister Jabar Ali al-Luaibi [Allibi] said in a statement on Thursday: "Iraq confirms its commitment to the decision of OPEC, which was taken during the last meeting in Vienna, by […]
By John Lee. A U.S. appeals court has ruled that the engineering firm and military contractor KBR Inc is not liable for a case of alleged human trafficking in Iraq. According to Reuters, the case concerned the 2004 kidnapping and murder by insurgents of 12 Nepali men, who were being transported in Iraq to work […]
By Dilshad Abdullah for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. International oil companies pull out of Kurdistan Exxon Mobil has pulled out of three of the six exploration blocks it operated in the Kurdistan Region. The American oil giant withdrew […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The Iraq Extractive Industries Transparency Initiative (IEITI) published its seventh annual report (Report 2015) on 31 December 2016; a second annual report released in one year after it released its Report 2014 […]
