Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. The Turkish Petroleum Overseas Company (TPOC) has issued a request for expressions of interest in its Mansuriya Gas Plant The Mansuriya gas field is located in Diyala governorate approximately 45 km north of Ba’quba city in Iraq. This location is about 100 km north-east Baghdad and south-west of Hamrin Lake. Turkish Petroleum […]
Kurdistan Region Prime Minister Nechirvan Barzani has received a delegation from the Russian Federation that included President Vladimir Putin’s Envoy to the Middle East and Deputy Foreign Minister Mikhail Bogdanov, Chairman of Gazprom Neft, Alexander Dyukov, and Deputy Energy Minister, Yuri Sentyurin. The delegation highlighted historic relations between Kurdistan and Russia, and their intention to […]
By John Lee. BlackRock Frontiers Investment Trust has said that the fund's most significant detractors from performance were its Iraqi oil stocks. In its Half-yearly Report, the fund commented: "Although Kurdistan has started exporting oil through it's pipeline to Turkey, the International Oil Companies ("IOCs") are still not receiving payment for these exports which is […]
By John Lee. Oil major BP has reportedly agreed with the Iraqi oil ministry to cut this year's expenditure on development work at Rumaila oilfield from $3.5 billion (4.1-billion-Iraqi-dinar) to $2.5 billion. According to The Economic Times, the cut in spending will have no impact on production from the oilfield this year, where output is […]
Oryx Petroleum has announced its financial and operational results for the three months ended March 31, 2015. (All dollar amounts set forth in this news release are in United States dollars, except where otherwise indicated). Financial Highlights: Total revenues of $5.3 million on working interest sales of 128,700 barrels of oil and average realized sales […]
To review the latest prospects for and progress of the December 2, 2014 agreement between the KRG and the Federal Government of Iraq, a joint meeting between the Kurdistan Region Council of Ministers’ Presidency and Kurdistan representatives in Baghdad was held in Erbil on Wednesday. After being presented with details and data of oil export […]
From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iraqi security forces are still battling for the control of the country's largest refinery in Baiji, where the Islamic state group has been launching several offensives:
International learning solutions provider Atlas Knowledge has signed a landmark deal that will see it work with the Iraqi Government to deliver world class safety and technical training to the country’s burgeoning oil and gas workforce. The contract with the Ministry of Oil and Baghdad Oil Training Institute (BOTI) will see Atlas Knowledge deliver a […]
By John Lee. Iraq plans to export a record volume of crude oil from its Gulf ports in June, reports Reuters. The State Oil Marketing Organization (SOMO) has reportedly allocated over 3.1 million bpd of Basra crude to buyers in a preliminary June loading programme, up from the usual monthly total of between 2.6 million […]
By John Lee. Shares in ShaMaran Petroleum were trading down 10 percent on the Vancouver stock exchange, following the announcement of its financial and operating results for the three months ended March 31, 2015: Production Facilities Implementation of the 30,000 bopd Atrush Phase 1 Production Facility is in progress. Construction has continued on foundations for […]
Hermes Datacomms, a leading global provider of managed networks for the upstream oil and gas industry, part of the SpeedCast Group, today announced the opening of its newest office in Erbil, Iraq. The new facility is in direct response to increasing demand for services from the oil and gas sector in Iraq and will enable […]
Iraq Business News (IBN) recently interviewed Colin Findlay, General Manager of Severn Valve Solutions and Executive Director of the Severn Glocon Group of companies, about doing business in Iraq. IBN: Can you tell us a little about your business in Iraq? Colin Findlay: Severn Valve Solutions was formed in 2012 and has quickly become the […]
