Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. Iraq's Ministry of Oil has begun the initial stages of trial operations at the North Refinery-2 and Salahuddin Refinery-3, with a combined refining capacity of 140,000 barrels per day (70,000 bpd each), according to Adnan Mohammed Hamoud, the Deputy Minister of Oil for Refining Affairs. Hamoud described the achievement as one of […]
By John Lee. Genel Energy has announced that, following a period of ill health, David McManus has decided to retire as Chair and is stepping down from the Board with immediate effect. Canan Ediboğlu, Senior Independent Non-Executive Director, has been appointed as interim Chair until the search for a permanent Chair is completed. Yetik K. […]
By John Lee. Deputy Prime Minister for Energy Affairs and Minister of Oil, Engineer Hayan Abdul Ghani Al-Sawad, inaugurated on Sunday the OT2 and OT3 oil processing facilities at the West Qurna-1 field, with a combined capacity of 210,000 barrels per day. The Minister explained that the project includes the construction of two new crude […]
By John Lee. Ukrzemresurs LLC, a Ukrainian gas producer and operator of the Akkas gas field in Iraq since 24 April 2024, has announced that it has filed a claim with the International Court of Arbitration of the International Chamber of Commerce (ICC) to protect its rights as operator and investor under the Gas Development […]
By Raad Alkadiri for the Atlantic Council. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. US energy firms are returning to Iraq -- but politics could undo their fortunes US firms are back in Iraq. Whether their outlook is as propitious a year […]
By John Lee. Russia's LUKOIL has announced that it will sell its international assets to Swiss-based Gunvor Group. In an announcement on Thursday, the company said: "The conclusion of the binding agreement for the transaction is subject to conditions precedent including obtaining OFAC permission by the Purchaser as well as any other applicable licenses, permits […]
Al Busttan Company for General Services has signed an Engineering, Procurement, Construction, Lease and Operate (EPCLO) contract with TotalEnergies EP Ratawi Hub (TEPRH) for the design, build and operation of a 200-man Pioneer Camp in the Ratawi Field in Basra. Pictured at the signing ceremony held at Al Busttan's North Rumaila office are Mr Ismael […]
By John Lee. Prime Minister Mohammed Shia Al-Sudani has confirmed that the Iraqi government has established a defined timeline to achieve its energy project goals, during a meeting with U.S. Deputy Secretary of Energy James Patrick Danly and his accompanying delegation in Baghdad on Tuesday. The meeting was also attended by U.S. Chargé d'Affaires Joshua […]
By John Lee. Iraq's Ministry of Oil has announced finalised oil export volumes for September. Total exports of crude oil: 102,150,362 barrels. Exports from the oil fields in central and southern Iraq amounted to 102,150,362 barrels. Exports from Qayyarah were not reported separately this month. Average daily crude oil exports: approximately 3.405 million barrels per […]
By John Lee. Deputy Prime Minister for Energy Affairs and Minister of Oil Hayan Abdul Ghani Al-Sawad has announced that the launch of the Fluid Catalytic Cracking (FCC) project at the South Refineries Company (SRC) in Basra will enable Iraq to achieve self-sufficiency in petrol and other oil derivatives once it is inaugurated on Saturday. […]
By John Lee. The Ministry of Oil has held a pre-startup ceremony for the expansion of the Zubair-Mashrif Gas Separation Station. Oil Minister Hayan Abdul Ghani Al-Sawad described the project as a key milestone in Iraq's efforts to boost gas production capacity, noting that it will significantly increase the capture of associated gas and supply […]
From the Iraq Britain Business Council (IBBC): IBBC Autumn conference 'Gateway to Iraq' Basrah is the physical and symbolic gateway to Iraq, with ports for export and import and the impressive massive new Al Faw port, with links into Iraq. There are plans to build freeports for businesses and communities along the development road to […]
