Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
IBBC hosts ‘Basrah: Open for Business’ Conference in partnership with IENA The Iraq Britain Business Council (IBBC), in partnership with the Iraq Energy Academy (IENA), held a successful conference ‘Basrah: Open for Business’ at the Shams Al Basrah Hotel on the 5th October 2015. Baroness Nicholson of Winterbourne, Executive Chairman of IBBC and UK Trade […]
The Kurdistan Regional Government (KRG) exported 18,614,798 barrels of crude oil (an average of 620,478 barrels per day (bpd)) in the month of September through the Kurdistan pipeline network to the port of Ceyhan in Turkey. Of this amount, fields operated by the KRG contributed 13,898,548 barrels (463,285 bpd on average), while fields operated by […]
The Basrah Gas Company (BGC) has been awarded the World Bank’s prestigious Global Gas Flaring Reduction Partnership (GGFR) Excellence Award for 2015. The GGFR Excellence Award recognises governments, oil companies and other organisations that have made a significant contribution to gas flaring reduction in the upstream sector of the industry through associated gas utilisation projects, […]
By John Lee. Iraq's oil exports for September fell to an average of 3.052 million barrels per day (bpd), down from 3.078 million bpd in August, according to a report from Reuters. Of this quantity, 3.03 million bpd were from the southern ports, with only 22,000 bpd from the north of the country via the […]
Gulf Keystone Petroleum (GKP) announced on Thursday the release of an updated independent third-party audit of the Company's Reserves, Contingent Resources and Prospective Resources for its oil & gas interests in the Kurdistan Region of Iraq, including the Shaikan and Sheikh Adi fields operated by Gulf Keystone. Today's updated Competent Person's Report ("CPR") was again […]
By John Lee. Egypt has finalised a farm-in at Iraq's Block 9 area in Basra province on Wednesday. Under the agreement, Kuwait Energy (KEC) will give up 10 percent of the concession, leaving it with a 60 percent share. According to a report from Reuters, this is the first time that the state-owned Egyptian General Petroleum […]
By John Lee. In its Interim Statement for period ended 30 June 2015, Irish-based Petrel Resources issued the following update on its operations in Iraq: "Our third theatre of activities is Iraq, where we have had a presence for 18 years. The original Petrel interest was in Block 6 in the Western Desert between Baghdad […]
By John Lee. According to a report from Mehr News Agency, the fifth joint summit on border patrolling of Iran’s west provinces and Iraqi border cities has begun in Mehran, Iran, with the presence of the Commander of the Iranian Border Guard Units General, Ghasem Rezaei [Qasem Rezaee] (pictured). The summit will review the security […]
The flow of crude oil from the Kurdistan Region to Ceyhan was halted on Thursday following theft from the export pipeline in Turkey. The thieves struck the pipeline near Urfa at 0545 am on the first day of the Eid holiday. No repair crews were on duty. A crew was due to start work on […]
The publishers of Iraq Business News are delightd to announce the launch of our new publication, Iran Business News, in response to the intense business interest in Iran in anticipation of the lifting of santions. After years of negotiations, agreement has been reached between Iran and the P5+1 countries (China, France, Russia, the United Kingdom, […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Budget 2016 and the Risk of Slipping into the Debt Trap The Ministry of Finance (MoF) prepared the draft budget law for 2016 and submitted it to the Cabinet for deliberation and […]
By John Lee. A spokesman for Iraq's Ministry of Industry and Minerals has said that the ministry is about to finalise a partnership contract with French company Total to set up a giant petrochemical project in Basra province. Abdul Wahid al-Shammari made the comments following a visit by the company's representative in Baghdad. He said the […]
