Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. Oil Minister Adel Abdel Mahdi [Adil Abd Al-Mahdi] met recently with a delegation from the Japanese companies Toyo and Mitsui. The meeting was attended by the deputies of the minister and the Directors General. Minister Mahdi confirmed that Iraq is keen to strengthen relations with major global companies, expand cooperation in the […]
By John Lee. UAE-based Stirling Group, a leading provider of HSE service, has partnered with the EU Iraq Energy Centre (EUIEC) to provide risk management training to the Iraqi oil and gas industry. The company will deliver a series of three day courses dealing with uncertainty and risk in the global energy sector from its […]
By John Lee. Oil Minister Adel Abdel Mahdi [Adil Abd Al-Mahdi] has met the deputy head of the Italian company Eni, Mr. Labo Pasteli, and discussed cooperation in the oil industry. He said that Iraq is keen to strengthen the relations with companies such as Eni. Mr. Pasteli said that his company aims to increase […]
The Kurdistan Regional Government (KRG) has published its monthly export report for November 2015. The KRG exported 18,023,075 barrels of crude oil (an average of 600,769 barrels per day (bpd)) in the month of November through the Kurdistan pipeline network to the port of Ceyhan in Turkey. Of this amount, fields operated by the KRG contributed […]
Gulf Keystone Petroleum (GKP) has announced that Cuthbert ("Cuth") McDowell and Keith Lough have been appointed to the Board as Non-Executive Directors with immediate effect. Jón Ferrier, CEO, has also been appointed to the Board with immediate effect. Cuth McDowell Having read Technological Economics at Stirling University, Cuth (59) began his career in 1979 at […]
Oil Minister Adel Abdel Mahdi [Adil Abd Al-Mahdi] met on Monday with Hans Nijkamp, the head of Shell in Iraq. and his entourage. The meeting was also attended by the deputy oil ministers, the directors general of the ministry, and representatives from the Basra Gas Company (BGC). The Minister said that Iraq is keen to […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Service Contracts Vs Production Sharing Contracts Revisited Debating the performance of the service contracts and viability of production sharing contracts as alternative seems to reenergizes lately among Iraqi professionals; this is prompted […]
The Kurdistan Regional Government's Ministry for Natural Resources has published a report on crude oil production, refining, local consumption and export in the Kurdistan Region of Iraq in 2015. The report also includes information on the Region’s oil revenue, pipeline infrastructure, the status of exploration blocks, and the composition of the workforce in the Region’s […]
By John Lee. DNO ASA, the Norwegian oil and gas operator, today confirmed receipt of USD 30 million to be shared pro-rata with its partner Genel Energy plc as a partial payment towards oil exported from the Tawke field by the Kurdistan Regional Government. The payment is the third such monthly payment received in 2015. […]
Gulf Keystone Petroleum (GKP) has confirmed that, further to the recent statement by the Kurdistan Regional Government regarding the November payment to the exporting international oil companies ("IOCs") in the region, a gross payment of US$15 million (US$12 million net to Gulf Keystone) has been received by the Company. This payment satisfies the Company's invoice […]
By John Lee. Iraq's oil exports rose to a record average of 3.37 million barrels per day in November, up from 2.7 million bpd the previous month, reports Reuters. Officials at the South Oil Company (SOC) said the jump in exports was facilitated by the large quantities of crude held in storage due to bad […]
By John Lee. UAE-based Dana Gas has announced that it has reached an “amicable and mutually beneficial settlement agreement” with RWE’s trading unit RWE Suppy & Trading GmbH (RWEST) to resolve a dispute over its operations in Iraqi Kurdistan. The detailed terms of the settlement agreement are to be treated in accordance with the confidentiality […]
