Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. The President of BP Iraq, Michael Townshend, has said that the company has extended an agreement with the Ministry of Oil to boost production at the Kirkuk oilfield. Reuters quotes him as saying "We had a letter of intent, which was for a year, and we extended that until the end of this […]
By Samar Rassam, CEO of Somer Industrial Projects (SIP). This is an extract from an article originally published by Nina Iraq, and is reproduced here with permission. As always, when returning to my column in Nina Magazine, I reflect on the past few months. It has been a very busy time. I am excited to […]
By John Lee. Exports of Kurdish and Kirkuk oil through the Turkish port of Ceyhan have reportedly risen to 420,000 bpd. According to BasNews, this is up from 270,000 bpd in March. 2.5 million bpd were exported through Basra, giving a total of 2.92 million bpd, down from the March record of 2.98 million bpd. […]
By John Lee. The President of BP Iraq has said that the company has been lifting more crude oil cargoes in the past couple of months, as payment for its work in the Rumaila oil field (pictured). Michael Townshend told reporters that current production at Rumaila is about 1.4 million bpd and is expected to remain […]
By John Lee. In its Interim Management Statement this morning, Dragon Oil gave the following update on its operations at Block 9 in Iraq: "In 2014, the partners in Block 9 in Iraq, announced the discovery of oil in two formations in the consortium's first exploration well, Faihaa-1 in which Dragon Oil holds 30 percent. […]
By John Lee. Iran's PressTV reports that preliminary tests have been carried out over 50 kilometers of the final stretch of the pipeline from Assaluyeh, near Iran's offshore South Pars oil and gas field, to Iraq. A spokesman for the National Iranian Gas Company (NIGC) said the next test will be carried out over the […]
RSK’s combined geotechnical-chemical laboratory just outside Basra has achieved accreditation to ISO/IEC 17025:2005, the international standard for competence of testing laboratories. The ISO/IEC 17025:2005 accreditation, which was awarded by the Gulf Cooperation Council Accreditation Centre, an accredited body of the International Laboratory Accreditation Cooperation (ILAC) in March 2015, specifies the general requirements required for a […]
This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Extremists, Oil or Kirkuk? Iraqi Kurdistan's Next Big Crisis: Its Presidency Several weeks ago Iraqi Kurdish MPs got into a fist fight in Parliament. The cause: Whether the current President […]
By John Lee. Russian oil company Lukoil was asked to "sharply reduce" output at West Qurna-2 this year, reports Reuters. Ravil Maganov (pictured), head of the company's upstream division, told reporters: "We've got the letter to curb our enthusiasm ... We were restricted to 250,000 barrels per day (bpd) due to weather and level of […]
During his visit to Washington this week, Prime Minister Haider al-Abadi received the Chairman and CEO of Occidental Petroleum, Mr. Steve Chazen, and the Chairman and CEO of ExxonMobil, Mr. Rex Tillerson, in separate meetings. Both chairmen discussed the progress in oil production in Iraq, and thanked the Prime Minister for the security and stability […]
By John Lee. Islamic State (IS, ISIS, ISIL) militants set fire to an abandoned oil field near Makhmour and Qaraj, east of Erbil, on Wednesday. Anofficial told BasNews that the oil field is located between Peshmerga and IS militants’ frontlines, about 2 kilometres away from Peshmerga forces. It is believed that the oil field was […]
By John Lee. The managing director of the National Iranian Gas Company (NIGC) has said it is possible for Iran to export natural gas to Kuwait through Iraq. Hamid Reza Araqi was quoted as saying that the pipeline which is being built to export gas to Iraq could be used for this purpose also. Iran […]
