Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By Simon Kent. There is growing speculation over a planned energy initiative between Iraq and China, with both Iraqi PM Haider al Abadi and oil minister Adel Abdul Mahdi travelling to China for "deep discussions" on the proposal. According to The Wall Street Journal, Unipec, the trading branch of Chinese state refiner Sinopec, will be working with […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The Iraq Extractive Industry Transparency Initiative (IEITI) succeeded in launching its fifth annual Report 2013 on 10th December 2015, almost three weeks earlier than its previous report. Moreover, IEITI plans to issue […]
By Simon Kent. Iraq's oil minister Adel Abdul Mahdi (pictured) has spoken to Reuters regarding Iraq's position on OPEC's failure to agree on a production ceiling as the battle to drive out shale production continues. Abdul Mahdi said that Iraq was now looking at the "real world" and that they would have to monitor production in countries […]
By John Lee. Iraq plans to export about 3.4 million bpd of crude oil from its southern oil terminals in January, according to a report from Reuters. This represents an increase of 17.2 percent on December's estimate, and is driven by the Basra Light grade, which is planned to increase 23 percent to 2.61 million […]
By John Lee. Basra is to receive an allocation of five dollars per barrel of oil exported from the province in the 2016 budget. Local MP Hassan al-Khalati said that this will be a significant benefit to the people of Basra. (Source: Shafaaq)
By John Lee. Reuters reports that sellers of a new 'Basra Heavy' crude oil grade are competing fiercely to win market share on the U.S. Gulf Coast, as the high sulfur content has limited appeal for refiners. The State Oil Marketing Organization (SOMO) began selling the new grade -- which has an API gravity of […]
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 […]
