Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. Iraqi oil minister Jabar Ali al-Luaibi [Allibi] has met with Mr. Ibrahim Saif, the Jordanian Minister of Energy and Mineral Resources. The parties agreed on the necessity of strengthening relations between the two countries, with Mr. Allibi stressing the importance of the oil and natural gas pipeline project to Aqaba port. He […]
By John Lee. Iraqi oil minister Jabar Ali al-Luaibi [Allibi] met with the CEO of Gazprom, Alexander Dukov, and his entourage and discussed with him mutual cooperation and the development of the oil industry in Iraq. The minister said it is necessary to increase oil and gas production at Badra oil field, and praised the […]
The Kurdistan Regional Government (KRG) has published its monthly production and export revenue overview for October 2016. During the month it exported 540.9k bpd from the Turkish port of Ceyhan, down from the previous month’s figure, at an increased average price of $39.32 per barrel, bringing in revenue of $632 million. Please click here to view […]
By John Lee. In its third-quarter results, Epic Gas says that increased LPG production at the Basrah Gas LPG plant has resulted in surplus tonnes available for export. The company said that it has recently noticed a growing number of pressure cargoes coming out from Iraq, and it expects to see this trend continue. (Source: Epic […]
By John Lee. The Ministry of Oil is to postpone a bidding round for 12 small- and medium-sized oil fields, following criticism of the plans by experts including IBN Expert Blogger Ahmed Mousa Jiyad. In a statement, the Ministry's Petroleum Contracts and Licensing Directorate (PCLD) said: "Following to the previous Ministry of Oil Announcement dated […]
Gas Plus Khalakan (GPK), the sole contractor of the Khalakan PSC in the Kurdistan Region of Iraq, issued an operations update regarding the Shewashan field. The GPK operations update outlines the continued operating and development events occurring on the Shewashan field including the spud of a new well, Shewashan-4. Key events include; Shewashan-4 Spud: The […]
The Iraqi government and humanitarian organizations are currently dealing with the aftermath of Daesh’s “scorched earth” policy in the Qayyarah area, which has posed a twin threat of smoke from oil fires and sulphur dioxide from the Mishraq Sulphur plant, which was set on fire by Daesh but has now been extinguished. At Qayyarah, 19 […]
U.S. and coalition military forces continued to attack Islamic State of Iraq and the Levant terrorists in Iraq on Wednesday, Combined Joint Task Force Operation Inherent Resolve officials reported yesterday. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Syria Attack, bomber, fighter and remotely […]
The Iraq Britain Business Council (IBBC) has today announced changes to its leadership team. Former IBBC Executive Chairman Baroness Nicholson of Winterbourne is now President of the 54-member organisation. Baroness Nicholson also serves as the Prime Minister’s Trade Envoy to Iraq, Azerbaijan and Turkmenistan. Replacing Baroness Nicholson as Chairman is Mr Mohammed Charchafchi, Chairman and […]
By John Lee. Norway's DNO has stated that its July 2016 proposal to acquire Gulf Keystone Petroleum (GKP) has expired, "as certain conditions to the recent financial restructuring set by Gulf Keystone itself appear not to have been met." In a statement, the company said: "Given the resulting uncertainties about Gulf Keystone's asset, commercial oulook […]
DNO ASA, the Norwegian oil and gas operator, today announced a third consecutive quarter of operating profits and the completion of the first phase of the 2016-2017 drilling campaign at the Company's flagship Tawke field in the Kurdistan region of Iraq. Four new production wells at Tawke, three of which targeted the shallow Jeribe reservoir […]
The Iraqi government has said that the election of Donald Trump as US president will not change its relationship with the United States. Government spokesman Saad al-Hadithi told Rudaw: “The Iraqi-American strategic agreement, including the economy and war on terror are all mutual files between the two countries and these ties will remain as they […]
