Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. An explosion on Friday has damaged a section of the pipeline that supplies gas for about half of the electricity generation in Iraqi Kurdistan. The KRG's Interior Ministry said an investigation was underway to find the cause of the explosion near the district of Shwan. The pipeline feeds gas from the Khor […]
By John Lee. Iraqi Oil Minister Adel Abdel Mahdi [Adil Abd Al-Mahdi] (pictured) has said Iraq was willing to accept a decision by OPEC and non-OPEC members to cut crude production. Reuters quotes the Minister as saying: “Iraq will agree and cooperate if producers really want to cooperate to cut.” (Sources: Reuters, Shafaaq)
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. Where Are The Petrodollars? Kirkuk Oil Flowing Fast, But Locals Never See Any Money The province of Kirkuk exports millions of barrels of oil per month. But nobody knows where […]
Minister of Foreign Affairs Dr Ibrahim Al-jaafari received the head of the Japanese International Cooperation Agency (JICA) Mr Shinichi Kitaoka, at the Ministry Headquarter, in Baghdad. The two sides discussed horizons of mutual relations and means to promote them in order to meet the aspirations of the two friendly countries. The minister said that Iraq […]
By Ali Mamouri, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. In June, Saudi Arabia announced that it would reopen its embassy in Baghdad after a 25-year rift. Iraqi officials, including President Fuad Masum, had visited Riyadh on Nov. 12, 2014, paving the way for […]
Text of speech by Prime Minister Nechirvan Barzani at the conference held today to announce the roadmap for reform and modernisation of the Ministry of Finance and Economy and debate the current financial crisis in the Kurdistan Region: Dear Distinguished Guests, Good morning to you all. I would like to thank representatives of foreign countries, […]
Following a recent visit by senior Kurdistan Regional Government, KRG, delegation to the United States to brief the US Administration about the financial crisis in the Kurdistan Region, and to request US support, yesterday Prime Minister Nechirvan Barzani received the US Ambassador to Iraq, Mr. Stewart Jones and his accompanying diplomatic team. In the meeting, […]
By John Lee. Iraqi oil production averaged 4.130 million bpd in December, all of it from the southern oilfields (as the northern fields are under the control of the KRG). Reuters reports that of the more than 128 million barrels produced during the month, 99.7 million barrels were exported. The selling price averaged $29.288 cents […]
By John Lee. Iraqi Oil Minister Adel Abdel Mahdi [Adil Abd Al-Mahdi] (pictured) told Reuters on Thursday that Iraq’s plans to increase oil output this year will go ahead, with exports running in January at a record level and unaffected by Iran’s return to the market. He told the news agency he expects output from the […]
Anton Oilfield Services Group (Antonoil) has announce today that the Group has received a notification from an internation oil company (IOC) customer operating at an oilfield in southern Iraq stating that Antonoil has been named as the preferred bidder for related oil production operation and maintenance services project on the site. In this regard, both […]
By John Lee. In a results statement this morning Schlumberger reported that its activity in Iraq has continued to decline, adding: "In Iraq, Wireline introduced LIVE PL digital slickline production logging services for the Rumaila Operating Organization in the Rumaila Field. LIVE PL technology provided real-time production logs on wells where memory logging was previously […]
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. Between Black Gold, Bleak Prospects: Visiting The Iraqi Shanty Town Between Two Oil Fields NIQASH visits Wasit's Oil Town. But this is no wealthy area for oil billionaires. This shanty […]
