Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
Shares in Gulf Keystone Petroleum (GKP), operator of the Shaikan Field in the Kurdistan Region of Iraq, closed up 1.7 percent on Wednesday followingn a trading and operational update. This is in advance of the Company's full year results for the period ended 31 December 2016 which will be announced on Thursday 6 April 2017. […]
By John Lee. DNO ASA, the Norwegian oil and gas operator, today reported receipt of USD 8.41 million from the Kurdistan Regional Government as payment towards June 2016 crude oil deliveries to the export market from the Tawke field. The payment completes settlement of the total invoiced amount for June 2016 of USD 38.41 million, […]
By John Lee. The South Oil Company (SOC) has started work on extension the Khor al-Amaya [Khor Al-Omaia] oil terminal (pictured) in Basra. Dredging operations have started with the intention of deepening of the shipping passages and anchor places for oil tankers. A Japanese loan will also facilitate the completion of the main transport pipeline, […]
The Abu Dhabi National Energy Company PJSC (TAQA) has announced the appointment of AbdulKhaliq Al Ameri as acting project director TAQA Iraq with immediate effect. Mr Al Ameri, previously deputy project director TAQA Iraq, will be responsible for the development of the Atrush block in the Kurdistan region of Iraq. He will report to Saeed […]
By John Lee. The Planning Director of the National Iranian Gas Company (NIGC) has said that Iran has started work on the second pipeline for exports of natural gas from Iran to Iraq. Hassan Montazer Torbati (pictured) said construction of the pipeline to south Iraq had begun on a Build-Operate-Transfer (BOT) contract. The first pipeline […]
ShaMaran Petroleum has announced that it that it has successfully completed the book build for the equity issue (the "Private Placement") announced on January 19, 2017, on a private placement basis, of common shares of the Company ("Common Shares"). The pricing of the Private Placement was determined during the book-building process to be CAD 0.10 […]
The end of 2016 saw several new members join the Iraq Britain Business Council (IBBC), each of which are underpinned by strong reputations for innovation, reliability and a commitment to investing in Iraq. GE, Khudairi Group, Pell Frischmann, Petronas and Siemens join 51 other world- and region-leading companies that form IBBC’s Council of Members. “IBBC […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraqi Refining Sector: Reality Check and Policy Thoughts for Consideration This Executive Summary falls in two parts: Part One provides brief baseline survey and situation analysis and thus it deals with two […]
By John Lee. Genel Energy has issued the following trading and operations update in advance of the Company's full-year 2016 results, which are scheduled for release on 30 March 2017. In the statement (see below), the company said it expects a significant drop in production in 2017. Share were trading down 11 percent on Tuesday. […]
Gulf Keystone Petroleum (GKP) has confirmed that a gross payment of $15.0 million has been received from the Kurdistan Regional Government ("KRG") for Shaikan crude oil export sales in October 2016. Gulf Keystone and the KRG's Ministry of Natural Resources ("MNR") continue to work towards agreeing the final form of the invoices for May to […]
By John Lee. In a sign that Iraq is following through on the OPEC decision to cut oil output, Reuters reports that oil exports from Iraq's southern terminals have fallen so far in January. According to loading data and an industry source, exports from southern Iraq averaged 3.25 million bpd in the first 16 days […]
By John Lee. According to a report from Reuters, Anglo-Dutch Shell has signed a $210-million contract with US-based Halliburton to drill 30 wells at the Majnoon field over the next three years. The contract is expected to raise output at the field from 220,000 barrels per day currently to about 400,000 bpd in three years. (Source: Reuters)
