Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
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 […]
IBBC Forms Partnership With NOF Energy, Will Co-host Event In October A new partnership has been forged between the Iraq Britain Business Council (IBBC) and NOF Energy, a business development organisation for oil, gas, nuclear and offshore renewables sectors. IBBC will serve as one of the organisation’s 33 Global Partners and will promote the business […]
By Denise Natali for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Since the overthrow of Saddam Hussein in 2003 and breakdown of the Iraqi state, ethno-sectarian partition has become a popular political mantra. The assumption is that a federal state based on three autonomous regions — […]
By John Lee. Iran and the Kurdistan Regional Government (KRG) have reportedly agreed the technical details of a plan to build a pipeline that could transfer as much as 250,000 bpd of Kurdish oil to Iran. Taha Zangana (pictured), the KRG's deputy minister of natural resources, told Al Jazeera: "We [the KRG and Iran] have an […]
DNO ASA, the Norwegian oil and gas operator, today reported receipt of USD 24.28 million from the Kurdistan Regional Government as a second payment towards May crude oil deliveries to the export market from the Tawke field. With the receipt of USD 15.00 million earlier this week, the payment completes settlement of the total invoiced […]
By John Lee. Russia’s Lukoil is in talks with Shell and Total regarding their participation in a petrochemical complex in southern Iraq. President Vagit Alekperov (pictured) told TASS: "To create a petrochemical complex - now the negotiations are under way with Shell and with Total. The Iraqi side supports our efforts." He added that Iraq […]
By John Lee. Reuters repors that crude oil exports from Iraq's southern ports are averaging 3.144 million barrels per day so far in June. An official from the South Oil Company (SOC) said on Tuesday that this was down from the 3.2 million bpd achieved in May due to maintenance work and weather conditions. (Source: […]
