Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. Reuters reports that oil production at the West Qurna II oilfield is currently running at around 402,000 barrels per day. The news agency quotes Lukoil Overseas senior vice president, Gati Al-Jebouri (pictured), as telling at a conference in London that output is expected to rise to 420,000 bpd by the end of […]
Turkish-based storage tank company Ergil has completed a comprehensive engineering, design, material supply and fabrication project in Iraq. ROSCO (Rafidain Oil Services Co., part of the Jurmat Group Of Companies), the EPC contractor for the New Flow Tanks EPC Project, has awarded the company the engineering, design, material supply and fabrication of 33m dia & […]
Regus, the global workplace provider, has just announced the expansion of its global network to include Iraq, its 105th country. Its new centre in Erbil, Kurdistan, will support the activities of companies in the region, particularly in the fields of oil and gas, engineering and technology. Located in the prime commercial district of Erbil, close […]
By Ahmed Mousa Jiyad. Legal and Institutional Framework Governing the Extractive Industry Sector in Iraq This is Part One of a research work commissioned by the Natural Resource Governance Institute-NRGI (USA) as part of the preparation for NRGI’s strategic plan for interlinked and complementary interventions in Iraq during the upcoming three years. The Executive Summary […]
Penspen, a leading global provider of engineering and management services to the energy industry, has underlined its commitment to growth in the Middle East with three new appointments and investment in a new office in Iraq. Ahmed Al-Dadah and Na’el Barghouthi have this month joined the company from other engineering providers, whilst Michael Simm, EVP […]
DNO ASA, the Norwegian oil and gas operator, has completed the placement of USD 400 million of new, five-year senior unsecured bonds with a coupon rate of 8.75 percent and an issue price of 87.5 percent of par value. The bond placement received strong investor demand across international markets and its combination of a fixed […]
U.S. and coalition military forces have continued to attack Islamic State of Iraq and the Levant terrorists in Syria and Iraq, Combined Joint Task Force Operation Inherent Resolve officials reported. Officials reported details of the latest strikes, which took place between 8 a.m. Sunday and 8 a.m. Monday, local time, noting that assessments of results […]
From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iraqi fighters from the Shiite popular mobilisation unit were still fighting jihadists from the Islamic state on the outskirts of Iraq's Baiji oil refinery, about 200 kilometres north of Baghdad, on Sunday.
By John Lee. Iraq is committing 27,000 security personnel to protect its oil and energy infrastructue from attacks by the Islamic State (IS, ISIS, ISIL). Oil Minister Adel Abdel Mahdi (pictured) announced the new force following the latest round of meeting with the Organisation of Petroleum Exporting Countries (OPEC). According to a report from The […]
By John Lee. Oil Minister Adel Abdel Mahdi (pictured) has said that the new Basra Heavy crude oil grade will add an additional 100,000 bpd to oil exports this month. Reuters reports that the new grade has allowed Iraq to revive some fields that it had previously shut down to maintain the quality of its […]
By John Lee. Indian state refiners Indian Oil Corporation and Hindustan Petroleum Corporation are holding talks with Iraq’s State Oil Marketing Organization (SOMO) to buy 4 million barrels of Basra light crude oil for India’s strategic petroleum reserves (SPRs). Bombay Stock Exchange had sought clarification from Hindustan Petroleum following press reports; Hindustan subsequently confirmed the […]
The Kurdistan Regional Government has published its Monthly Export Report for May 2015. The Kurdistan Regional Government (KRG) exported 17,906,242 barrels of crude oil (an average of 577,621 barrels per day (bpd)) in the month of May through the Kurdistan pipeline network to the port of Ceyhan in Turkey. Of this amount, fields operated by […]
