Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. China's Anton Oilfield Services Group (Antonoil) has announced that it has won a bid for what it describes as "the provision of three well's workover and other services in middle Iraq". As the chief contractor for the project operated by an international oil company, Anton is commissioned to provide a series of […]
By Ahmed Mousa Jiyad. Oil Export Revenue Distribution Issues in Iraq This is part two 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 of the study was […]
By John Lee. Gulf Keystone Petroleum (GKP), the operator of the Shaikan field in the Kurdistan Region of Iraq, confirmed on Monday that it continues to produce in excess of 40,000 barrels of oil per day following the successful completion of 'de-bottlenecking' (sic) operations at PF-1. According to a statement this morning, as a result of the continuing […]
By Simon Kent. Lukoil, the Russian energy giant with one of the biggest investments in southern Iraq at the vast West Qurna 2 oil field, have issued a statement in support of Iraq's move to split crude grades into Basra Heavy and Basra Light. Previously, different grades arrived at Basra for blending, which not only […]
By Robert Tollast. Sterling, the international Health, Safety and Environment oil and gas and construction specialists, have expanded their HSE training site in Erbil. Sterling focus on HSE consulting, building capacity to mitigate risks and environmental hazards, as well as preventing and dealing with major incidents in construction and the energy sector. The expanded centre will […]
By Simon Kent. Sources at Ceyhan have told Reuters that there is insufficient oil in the Iraqi State Oil Marketing Organization (SOMO) tanks at the port to fill planned cargoes. Both BP and Spain's Cepsa have cancelled shipments, and no oil has gone to SOMO storage for the past ten days. According to sources, this […]
By Robert Tollast. Russia's Gazprom Neft has announced that production at the Badra field in Wasit province is close to double last year's production, now reaching 28,000 bpd. Gazprom Neft's commercial production and exports at Badra started in September last year, after the company signed a contract to develop the field in January 2010, as […]
The Iraq Britain Business Council (IBBC) has just welcomed Unaoil as its latest member. A provider of industrial oil and gas solutions, Unaoil's services include engineering and construction, workforce solutions, and repair and maintenance. The company has been active in Iraq since 2003 and engages over 1,100 people working in and for Iraq, 75 percent […]
The Kurdistan Region Council for Oil and Gas Affairs met on Wednesday with the five political parties of the Kurdistan Regional Government, KRG. Recent developments regarding oil and budget issues between the KRG and the Iraq Federal Government were discussed. It was reaffirmed that the KRG has been abiding by the December agreement with Baghdad […]
By John Lee. Reuters reports that exports from Iraq's southern terminals have averaged 3.00 million barrels per day in the first 15 days of June, up from 2.69 million bpd in the month of May. The increase is due in part to the splitting of Basra crude into two grades, Basra Heavy and Basra Light. […]
The KRG's Ministry of Natural Resources (MNR) notes the decision by the Seoul Western District Court in Korea to grant an application from the Korean National Oil Company (KNOC) ordering the Korea Times newspaper to delete all published articles relating to allegations by a Korean MP of a misuse of funds by the KRG and […]
Air Energi has been awarded its first major contract with BP Iraq. The five year agreement will see Air Energi deliver talent acquisition services to support BP Iraq’s operations in the Middle East. The agreement includes the supply of expatriate talent to support Iraq’s giant Rumaila and Kirkuk oil fields. With estimated recoverable reserves of […]
