Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
The KRG Ministry of Natural Resources announces the publication of the Kurdistan Oil Production Report. The report is compiled from data provided by the oil producing companies operating in the Kurdistan Region, and details overall oil production, export, refining, and local trading in KRG-operated fields from January 2015 to September 2016. It also breaks down […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 29 banks and 15 remittance companies took part in its currency auction on Wednesday. A total of $146,910,320 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
By John Lee. Iraqi oil minister Jabar Ali al-Luaibi [Allibi] has directed the South Oil Company (SOC) to invite international companies to execute the sea water desalination project in southern Iraq. The Common Seawater Supply Facility (CSSF) is considered vital to maintain the production volumes at Iraq's oil fields. It is to be implemented in […]
Kurdistan’s Oil & Gas Leaders to Hold Official Annual Meeting in London The Ministry of Natural Resources of the Kurdistan Regional Government, Iraq is to hold the sixth official Kurdistan-Iraq Oil & Gas Conference in London, on 5-7 December 2016 to drive forward the oil and gas development in the Region of Kurdistan. Energy events […]
DNO ASA, the Norwegian oil and gas operator, today reported receipt of USD 31.33 million from the Kurdistan Regional Government as payment towards August crude oil deliveries to the export market from the Tawke field. The funds, to be shared pro-rata by DNO and partner Genel Energy plc, include USD 26.27 million toward the monthly […]
By John Lee. Reuters reports that Iraq has asked international oil companies to save costs by shutting down their prestige offices in Dubai and running their Iraqi operations from within Iraq. Oil companies with contracts in Iraq have to clear spending with Baghdad, including staffing costs, and are then repaid with income from Iraq's exports […]
By John Lee. Shell and oil trading house Vitol are reported to be stepping up their operations in the port of Fujairah to store Iraqi crude. Shell, an equity partner in Iraq's Majnoon oilfield, leased five large crude storage tanks at Fujairah port last year. Vitol has also started to store crude from Iraqi Kurdistan in […]
According to UNICEF, Iraq is now one of the most dangerous places in the world for children -- this lawyer and mother is doing something about it! As Iraq liberates Mosul, an Iraqi American mother and lawyer, thousands of miles away, is training to run in the November 6 New York City Marathon. As she did at the Chicago Marathon and the […]
By Mustafa Saadoun for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Iraqi Oil Minister Jabar Ali al-Luaibi called on Egyptian companies to participate in oil investment contracts. He said during a meeting with the Egyptian ambassador in Baghdad, Hassan Ahmed Darwish, […]
By John Lee. Kuwait Energy (KEC) has reportedly signed a farm-out agreement giving Egypt General Petroleum Corporation (EGPC) a 20 percent participating interest for Iraq's Siba oilfield. According to Reuters, the agreement is subject to Iraqi regulatory approval. Kuwait Energy has not published any information about the deal on its website. The two companies are […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The Ministry of Oil should withdraw its plan to offer 12 new oilfields. In a rather surprise move, the Ministry of Oil (MoO) announced its “intention” to offer 12 medium and small […]
By John Lee. Shares in Genel Energy were trading near their all-time low on Thursday, as markets reacted to the company's warning on Wednesday that "2016 revenue is expected to be at the lower end of the previously communicated $200-230 million guidance range". It also said that production levels for the year would come in […]
