Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
Iraq Britain Business Council (IBBC) delegates visited the Khor Al Zubair Fuel Depot this week as part of a Mission to Basrah. Host Mike Douglas, CEO of SKA International, welcomed the delegation and highlighted the following points on making business in Iraq: “You need to be tenacious, as well as patient, in order to succeed […]
By Padraig O'Hannelly. Much has been written about the expected lifting of sanctions on Iraq's powerful neighbour, Iran, opening Iranian markets to international commerce and allowing Iran to export more goods and services. But the burning question on the streets of Baghdad, Basra and Erbil is what does all this mean for Iraq? In a […]
By John Lee. British-based quality consultant Intertek has won a third party inspection procurement contract for the South Oil Company (SOC). Accoring to a report from OilVoice, it is the first time the SOC has appointed a third party inspection company to help ensure the quality and safety of all their projects, which are contracted […]
WesternZagros Resources has announced its production of light oil in the Kurdistan Region of Iraq averaged approximately 5,000 barrels per day in the third quarter. As previously disclosed, operatorship of the Garmian Block was to transition from WesternZagros to Gazprom Neft Middle East B.V at the end of the exploration period for the block pursuant […]
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 […]
