Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By Ayah Aman for Al Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the opinions of Iraq Business News. Iraqi Prime Minister Haider al-Abadi’s visit to Cairo on Jan. 11 included several political, military and economic agreements, and marked a new chapter in Egypt-Iraq relations. These agreements also contributed in […]
By John Lee. Finance Minister Hoshyar Zebari received on January 21, 2015, Mr. Hans Nijkamp, head of Shell in Iraq and the vice president of Shell Oil. During the meeting, they discussed the company's operations in the Majnoon and West Qurna 1 oil fields, and the South Gas Project, as well as the oil company […]
By Patrick Schmidt. The Iraqi Deputy Prime Minister announced that Iraq would try to increase its oil production along with exports in order to compensate for low oil prices. Iraq has recently lost 50 percent of its revenue due to the slump in world crude prices. The country aims to boost production with the Kurdistan […]
By John Lee. Gulf Keystone Petroleum (GKP) has appointed a new Chief Financial Officer. Sami Zouari (pictured), 42, joins the Company following careers in both the oil & gas industry and investment banking, where he also had a particular focus on the Energy and Commodities sectors in the Middle East and North Africa. Educated at […]
Shares in Genel Energy were down 3 percent on Wednesday morning following the company's trading and operations update in advance of the its full-year 2014 results, which are scheduled for release on 5 March 2015. The information contained herein has not been audited and may be subject to further review: HIGHLIGHTS A combination of low […]
By John Lee. Iraqi Oil Minister Adel Abdul Mahdi told a conference in Kuwait on Wednesday that oil prices are unlikely to fall further, following the drop of nearly 60 percent since June: "Our estimate is that the prices (of oil) have reached the bottom. It is very difficult to drop lower than this ... […]
By John Lee. Iraq and Turkey have agreed on a new natural gas pipeline project. The announcement was made during the visit of Turkey's Energy Minister, Taner Yıldız, to Iraq on Sunday to attend 17th meeting of the Turkey-Iraq Joint Economic Commission. Technical analysis on a new natural gas pipeline will start soon. According to […]
By John Lee. In its Trading Statement this morning, Dragon Oil issued the following update on its operations in Iraqi Kurdistan: "On 10 September 2014, the partners in Block 9 in Iraq, Dragon Oil (30%) and Kuwait Energy (70% and operator), announced their first oil discovery at the consortium's first target, the Mishrif formation, reached […]
By John Lee. Iraq produced a record of around 4 million barrels per day (bpd) of crude oil in December, Oil Minister Adel Abdel Mehdi (pictured) told a press conference on Sunday. This beat the previous record for Iraqi production of 3.56 million bpd in 1979, according to an official from the State Oil Marketing […]
By John Lee. A director of the National Iranian Gas Company (NIGC) has said that Iran plans to begin supplying natural gas to Iraq on a regular basis by May of this year. Azizollah Ramezani said about six to seven kilometers of the pipeline has yet to be laid on the Iraqi side of the […]
By John Lee. Reuters reports that a shipping insurer has warned that Iranian oil is being disguised as Iraqi, in an attempt to flout sanctions on Tehran. Insurer West of England said that Iranian crude labelled as Iraqi crude from Basra was being transferred ship-to-ship (STS) by smugglers at the Khor Fakkan port in the […]
His Excellency the Governor of Basra, Dr Majid Al-Nasrawi, together with representatives of the Basra Provincial Council, Mr Aqeel Al Khalidi, Mr Hayder Al Saadi, Mr Jabbar Al Saadi, and Mr Munther, joined the Chairman of the Iraq Britain Business Council (IBBC), Baroness Emma Nicholson, in a dinner at the new Shams Hotel on the […]
