Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By Simon Kent. Iraq's Deputy Oil Minister Fayadh Nema, who is currently acting Oil Minister until Abadi's new cabinet is finalized, has recently announced a trip to Tehran to discuss cross border oil fields. Once a controversial topic between Tehran and Baghdad, Iraq's many cross border oil fields are now back on the agenda as sanctions […]
By Simon Kent RSK Group have recently won the Queen’s Award for Enterprise in International Trade, widely seen as the most prestigious award for UK enterprise. Key to the award was their environmental work cleaning up the vast oilfields at Rumaila and Majnoon. But according to RSK Group, this was an opportunity they seized in […]
The Iraq Britain Business Council (IBBC) will be holding its Spring Conference on April 27 at Mansion House and on April 28 at Vintners' Hall in London. In recent weeks considerable political debate has taken place in Iraq following Prime Minister Abadi’s announcement of a technocrat reshuffle of his cabinet. It seems that the motto of the conference - ‘Iraq […]
Shares in Gulf Keystone Petroleum (GKP) plunged 30 percent to a new low following the mid-morning announcement of details of fundraising and investment options: Gulf Keystone today publishes further details on potential interim investment scenarios to build a common foundation for stakeholder discussions on the Company's need for near-term fundraising, upcoming debt obligations and possible […]
By John Lee. Reuters cites trade sources saying on Tuesday that crude oil exports from the southern Iraqi ports are set to fall to the lowest this year in May. A preliminary loading programme shows total Basra crude exports of 3.085 million bpd in May, down from 3.28 million bpd this month, with Basra Heavy […]
By Mohammed A. Salih for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The ongoing reform push by Iraq's Prime Minister Haider al-Abadi has brought about a sense of unity in the Kurdish ranks, unseen for the past couple of years. When Abadi […]
By John Lee. The head of Iraq’s State Oil Marketing Organization (SOMO) has said the world’s major oil producers must agree to freeze production, in order to shore up flagging oil prices. Falah Alamri said: “They should do this deal as this is the only way to support the oil price ... Everybody needs it […]
By John Lee. Kuwait Energy has announced the signing of an Export Oil Sales Agreement for its Block 9 project in Iraq. The agreement, signed between a consortium led by Kuwait Energy plc and Iraq's State Oil Marketing Organization (SOMO) puts in place the mechanism by which Kuwait Energy will be paid for services in […]
DNO ASA, the Norwegian oil and gas operator, today reported receipt of USD 20.11 million from the Kurdistan Regional Government for March crude oil deliveries to the export and local markets from the Tawke field under the payment arrangement announced earlier this year. The funds, to be shared pro-rata by DNO and partner Genel Energy […]
IBBC Women’s Group Roundtable: Judge Marilyn Mornington on Women in the Workplace The Iraq Britain Business Council (IBBC) Women’s Group held its first roundtable with District Judge Marilyn Mornington as the key note speaker. The event was held at G4S offices in Victoria on the 7th April and was attended by representatives of member universities […]
Genel Energy has announced that the Taq Taq field partners have received a gross payment of $19.88 million from the Kurdistan Regional Government ('KRG') for oil sales during March 2016. Genel's share of the gross Taq Taq payment is $10.93 million. As agreed with the KRG, sales into the local market and deliveries to the […]
A senior Iranian oil official said the country has started pumping gas into a pipeline that the Islamic Republic plans to use for exports of natural gas to Iraq. “The pipeline is complete on the Iranian side and will be soon inaugurated by senior Iranian officials to start pumping gas into Iraq,” Managing Director of […]
