Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
DNO ASA, the Norwegian oil and gas operator, today reported receipt of USD 13.46 million from the Kurdistan Regional Government for February 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 […]
By John Lee. Gulf Keystone Petroleum (GKP) has announced that a gross payment of $7.5 million has been received from the Kurdistan Regional Government ("KRG") for Shaikan crude oil exports in February 2016. This gross payment comprises the Company's monthly contractual revenue entitlement under the Shaikan Production Sharing Contract for crude oil exports in February […]
By John Lee. Genel Energy plc has announced that the Taq Taq field partners have received a gross payment of $12.6 million from the Kurdistan Regional Government ('KRG') for oil sales during February 2016. Genel's share of the gross Taq Taq payment is $6.9 million. As agreed with the KRG, sales into the local market […]
By John Lee. Iraq exported its first shipment of natural gas on Sunday. Oil Ministry spokesman Assem Jihad said a cargo of about 10,000 standard cubic feet of gas, in the form of condensates, left the port of Umm Qasr. He declined to name the buyer, but Oil and Gas Year cites sources as saying […]
By John Lee. Kurdistan Region President Masoud Barzani (pictured) has said he wants to reach an amicable agreement with Baghdad, but stressed that Kurds will "not accept to be subordinates". In his address on the occasion of Newroz, the Kurdish New Year, the President said: “We have two options before us: either we forget the […]
WesternZagros Resources has announced that the transition of operatorship of the Garmian Block in the Kurdistan Region of Iraq ("KRI") from WesternZagros to Gazprom Neft Middle East B.V. was completed effective February 29, 2016. The agreement does not involve any change of working interest in the production license. This transition was made pursuant to the […]
WesternZagros Resources announced today its operating and financial results for the fourth quarter and year ended December 31, 2015. All amounts set out in this press release are in US dollars unless otherwise stated. Commenting on the year end and subsequent events, WesternZagros's Chief Executive Officer, Simon Hatfield (pictured) said: "In 2015, we were pleased […]
DNO ASA, the Norwegian oil and gas operator, today released its 2015 Annual Report and Accounts together with its 2015 Annual Statement of Reserves. The company reported record levels of operated production in 2015, driven by strong performance in the Kurdistan region of Iraq, though the company's financial results were impacted by the sharp drop […]
Genel Energy has announcing a reverse tender offer to holders of Genel Energy Finance plc's USD 730 million GENEL01 PRO senior unsecured callable bonds (ISIN NO0010710882). The Company intends to offer one repurchase price at which all relevant Bonds are to be repurchased. The Repurchase Price will be determined through a reverse book-building ("Dutch auction"). […]
By John Lee. Iraq Oil Report, citing Iraqi Oil Minister Adel Abdel Mahdi [Adil Abd Al-Mahdi], says Baghdad has stopped oil exports through the Kurdish region, to put pressure the Kurdistan Regional Government to resume talks about sharing oil revenues. Sources confirmed to Reuters that the state-run North Oil Company (NOC) has stopped pumping oil […]
ShaMaran Petroleum has announced its financial and operating results for the year ended December 31, 2015. Unless otherwise stated all currency amounts indicated as "$" in this news release are expressed in thousands of United States dollars. Construction of the 30,000 bopd Atrush Phase 1 Production Facility ("Production Facility") is in progress. Substantially all equipment […]
By John Lee. Shares in Gulf Keystone Petroleum (GKP) fell to a seven-year low in early trading on Thursday, as the company said it is continuing discussions with bondholders. The company announced its results for the year ended 31 December 2015: Highlights to 31 December 2015 and post reporting period Operational Gulf Keystone's operations in […]
