Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
Iraqi Government, EU, IMF, UNAMI, and World Bank representatives participate at IBBC’s annual retreat in Windsor Dara Rasheed, Iraq’s acting Minister of Housing and Construction, Jan Kubis, Head of UNAMI and Special Representative of the United Nations for Iraq, Robert Bou Jaoude, World Bank’s Special Representative for Iraq, Patrick Simmonet, EU Ambassador to Iraq and […]
Genel Energy has announced that the TT-27x side-track well has been successfully drilled and completed in the Cretaceous Shiranish reservoir at the Taq Taq field (Genel 44% working interest, joint operator). The TT-27x side-track was the first well in the 2016 Taq Taq work programme, which aims to more evenly distribute the production rate over […]
By John Lee. A spokesman for Iraq's Ministry of Oil has said that oil exports from the central and southern fields totalled 95,260,680 million barrels in June, giving an average of 3,175,356 barrels per day (bpd). Mr. Assim Jihad added that at an average selling price of $40.367 per barrel, this brought in revenue of […]
By John Lee. Iraq exported its first shipment of liquified flare gas through Umm Qasr port on Saturday. Describing it as an "historical accomplishment and an economic event", Dr. Hamid Y. Salih, the Deputy Minister for the gas industry, said the exported quantity was 2,000 tons, with production now running at 5,000 tons/day. Mr. Simon Diamond, […]
Genel Energy has set out details of the payments made to governments for the year ended 31 December 2015, as required under the Disclosure and Transparency Rules of the UK Financial Conduct Authority. The DTRs require companies in the UK and operating in the extractive sector to publicly disclose payments made to governments in the […]
By John Lee. Gulf Keystone Petroleum (GKP) has announced that the current Standstill Agreement between the Ad Hoc Committee of holders of the Notes and the Bonds and the Company expired on 1 July 2016 at 5pm BST and has not been extended. The Company is currently discussing the terms of an agreement with certain […]
Iraq is seeking to attract Mexican investors into its energy, industrial and infrastructure sectors, according to the head of Iraq's diplomatic mission to Mexico, Hisham Al Jeborri. According to a report from BNamericas, he said that 15 Mexican companies are already active in Iraq, mainly in the areas of oil pipelines, machinery and agricultural tools. […]
Kurdistan Region Prime Minister Nechirvan Barzani has received a high-ranking delegation from the Islamic Republic of Iran. The two sides discussed the recent security development in the region, particularly on the border between the Kurdistan Region and the Islamic Republic of Iran. Prime Minister Barzani expressed his deep concern regarding recent events especially the shelling […]
By Bijan Khajehpour, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. For the past two decades, energy interconnectivity has been one of the pillars of Iran’s regional relations. From the early days of the so-called oil swap deals between Iran and Central Asia in the […]
By John Lee. Iraq's oil exports are expected to decline in June for the second month in a row. According to loading data tracked by Reuters and an industry source, Iraq's southern exports in the first 29 days of June have averaged 3.14 million bpd, down 60,000 bpd from May. The head of the South […]
Operation Inherent Resolve continues to target ISIL illicit oil and natural gas activities in an operation called Tidal Wave II, a US military spokesman said on Wednesday. Col. Christopher Garver said targets include oil sites, equipment and vehicles for transporting oil and natural gas. Since September 2014, the coalition has conducted about 300 strikes against […]
By John Lee. Power supply ships have reportedly returned to work in Basra following threats from the governor to expel them. The ships, reportedly owned by the Turkish-based Karadeniz Holding, had stopped production for several hours due to unpaid debts of $85 million owed to them by the Ministry of Electricity. The Turkish company supplies […]
