Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. Iraq is reported to be giving bigger discounts for heavy crude from Basra from January. The State Oil Marketing Organization (SOMO) recently abandoned plans to split its "Basra Light" grade into two grades, light and heavy. Reuters says this latest move is aimed at pacifying buyers who have had to deal with […]
By Mohammed A. Salih for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The new oil agreement between Iraq’s federal government and the autonomous Kurdish government in the north appears to have left some room for confusion as to what the Kurds should do […]
The Balance Sheet of the Recent IFG-KRG Oil Deal By Ahmed Mousa Jiyad. On 2 December the Council of Ministers-CoM website posted the decisions taken by the Cabinet including one approving the agreement concluded between the Iraqi Federal Government (IFG) and Kurdistan Regional Government (KRG). Soon after its announcement and due to lack of transparency, […]
By Cengiz Çandar for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Adel Abdul-Mahdi, Iraq’s former vice president and current oil minister in Haider al-Abadi's government, spotted me aboard a flight from Beirut to Istanbul. He was in a rush, on his way back […]
By John Lee. Egypt’s state-owned Petroleum Projects & Technical Consultations Company (Petrojet) has reportedly won two contracts in Iraq valued at $142.5 million (166 billion Iraqi dinars). In the first contract, worth $75 million, Petrojet will carry out the first phase of the rehabilitation and upgrade of the current facilities in Basra Gas Company, for […]
By John Lee. Prime Minister Dr. Haider Al-Abadi met the CEO of BP, Bob Dudley, in his office on Sunday. During the meeting, they discussed the production and development of oil fields in Iraq, and in particular the oil fields operated by BP in Rumaila and Kirkuk. Dr. Haider al-Abadi expressed Iraq’s interest in increasing […]
By Mushreq Abbas for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. As soon as the oil agreement signed Dec. 2 between the Iraqi government and the Kurdistan Regional Government (KRG) was announced, optimism emerged in Iraqi and international circles, which considered the agreement to be the […]
By John Lee. The Kurdistan Regional Government (KRG) is reported to be planning to export natural gas to in the near future. The head of the KRG's Industry and Natural Resources Committee, Sherko Jawdat, told BasNews: “This step is still in the beginning, but the process has not gone into the implementation stage yet, however […]
UK Consul General Angus McKee visited Gulf Keystone's production facility at the Shaikan oil field on Wednesday, where he was given a tour by company officials. He viewed the production processes, control room and loading of tankers for onward transportation. Following the visit, McKee said: "Kurdistan Region's oil industry is a real success story, and […]
Oryx Petroleum Corporation has announced an update regarding development, production and sales for the Demir Dagh field in the Kurdistan Region of Iraq ("KRI"). Highlights: The Demir Dagh-7 well will be tied into the Demir Dagh production facilities in the coming weeks, taking total Demir Dagh gross (100%) productive capacity to more than 15,000 bbl/d […]
Shell and the Foundation of Football Club Barcelona (FFCB) have signed an agreement extending the award winning extra-curricular school programme “FutbolNet”, for an additional two seasons in Basrah. The “FutbolNet” programme is based on FFCB’s methodology of using football to develop life and leadership skills, respect, tolerance, teamwork, responsibility and effort amongst children and encouraging […]
By John Lee. DNO ASA, the Norwegian oil and gas operator, today confirmed receipt of USD 30 million (36 billion Iraqi dinars) as first payment for oil exported by the Kurdistan Regional Government from the Tawke field during 2014. The payment will be shared by DNO (USD 20.625 million) and partner Genel Energy plc (USD […]
