Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. The Speaker of the Iraqi Parliament has said that the ability of the so-called Islamic State militant group (IS, ISIS, ISIL, Daesh ) to profit from illicit oil sales has declined, as the terrorists lose control over the captured territories. Saleem Jubouri (pictured) told Sputnik: "Daesh used [oil] fields to earn money, especially […]
By Mustafa Saadoun for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraq is facing a new crisis with Saudi Arabia as a result of their differing points of view regarding regional issues, most notably those related to Lebanon-based Hezbollah, which was recently classified […]
By John Lee. Reuters reports that oil exports from Iraq's southern ports have risen to an average of 3.494 million bpd in April, from an average of 3.286 million bpd in March. The South Oil Company's assistant general manager, Basim Abdul Kareem, added that export volumes in March and so far in April are higher […]
This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Secret plan for Kurdish Oil Pipeline Through Iran May Soon Be Reality An oil pipeline from Iraqi Kurdistan through Iran to the world has the potential to change the balance […]
By John Lee. Reuters reports that a fire broke out on Tuesday evening at an abandoned natural gas well in the Khabbaz oil field, 20 km southwest of Kirkuk. The well is close to an area controlled by militants loyal to the so-called Islamic State (IS, ISIS, ISIL, Daesh). Firefighters were trying to put out […]
By Padraig O'Hannelly. Former Oil Minister Dr. Hussain Al-Shahristani (pictured) has responded to the recent reports of alleged corruption involving Unaoil. In an email to Expert Blogger Ahmed Mousa Jiyad, for publication on our Iraq Business News website, Dr Al-Shahristani says that he has "not known, met or communicated in any way with anybody from […]
By John Lee. Iran has cut electricity to the Penjwen district east of Sulaimani, as well as to neighboring villages in Iraqi Kurdistan, since Monday. According to a report from eKurd, the supply was cut off after the Kurdistan Regional Government (KRG) failed to repay loans of $27 million to Iran. Iran has provided the Penjwen […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Unaoil Corruption Scandal: International and Iraq update and follow-up The recent joint report by Australia's Fairfax Media and the Huffington Post uncovering serious international corruption scandal allegedly masterminded by a Monaco based […]
By John Lee. Prime Minister Haider al-Abaid has called for an investigation into allegations of bribery in the Iraqi oil industry. Iraq's ambassador to the United States, Lukman Faily, has also said that al-Abadi will personally chair a new committee to review all major contracts issued by government ministries. The moves follow reports from the […]
By John Lee. The Prime Minister's nominee for the post of oil minister in his new 'technocrat cabinet' has reportedly withdrawn his candidacy, apparently because he had not been formally proposed by the main Kurdish groups. Nizar Saleem Numan, a 65-year-old Kurdish petroleum geologist, who is the dean of the college of planning at the University […]
The Kurdistan Regional Government (KRG) has published its monthly crude oil export report for March 2016. The report details: All oil export volumes through the KRG-Ceyhan crude oil pipeline; all crude oil cargoes lifted from Ceyhan by the buyers; and the revenues received on account by the KRG during the month. The KRG exported 10,148,487 […]
By Rami Khrais for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Do gas condensate exports represent new beginning for Iraq's hydrocarbon industry? Iraq exported its first shipment of gas condensate on March 20, from the port at Khor al-Zubair to Fujairah in […]
