Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. SNC-Lavalin has announced that Kentz Corporation, a member of the SNC-Lavalin Group, has signed a Project Management Contractor Agreement in Iraq with one of the world's leading blue-chip International Oil Companies (IOC) for a three-year term with a potential value of up to approximately US$97 million (113 billion Iraqi dinars). The contract […]
Kurdistan Region Prime Minister Nechirvan Barzani and Deputy Prime Minister Qubad Talabani talked to the press following yesterday’s Parliament session hosting the Kurdistan Region Oil and Gas Council. Prime Minister Barzani said the Region would not hand oil control to the Iraqi State Oil Marketing Organisation, SOMO. He noted the federal government cannot export oil […]
By John Lee. Iraqi Oil Minister Adel Abdul-Mahdi [Adil Abd al-Mahdi] met on Sunday with the Korean Ambassador in Baghdad, Mr. Jo Jong. They discussed the strengthening of relations between Iraq and South Korea, especially in the energy sector. (Source: Ministry of Oil)
By John Lee. On a three-day visit to Turkey, Iraq’s foreign minister Ibrahim al-Jaafari has reportedly told his Turkish counterpart, Mevlut Cavusoglu, that oil affairs in Iraq, including Iraqi Kurdistan, come under the control of Baghdad. At a join press conference he said that they are trying to resolve the recent “mistakes” with Turkey, a […]
By John Lee. Kirkuk Governorate has reportedly renewed its demands on the central government to honour a pledge and build a $3-5 billion (3.5-5.8 trillion Iraqi dinar) oil refinery in the province. Alsumeria News quoted the acting chairman of Kirkuk Provincial Council as saying that the project has been on the cards since 2007, but […]
By John Lee. Iraqi Oil Minister Adel Abdul-Mahdi [Adil Abd al-Mahdi] met this week with the Australian Ambassador, Lyndall Sachs, to discuss the strengthen of relations relations between the two countries, particularly in the oil sector. The Minister pointed out that "Australia is one of the countries that has good relations with Iraq, and we […]
By John Lee. International oil companies (IOCs) in southern Iraq are seeking to push ahead with their own water injection facilities to meet production targets, according to a report from Platts. Malaysia's Petronas, operator of the Gharraf [Garraf] oil field, is the latest to ask the Ministry of Oil for permission to build a standalone […]
By John Lee. In its third-quarter results on Tuesday, Talisman Energy gave the following update on its operations in Iraq: In the Topkhana Block, the extensive well testing of the T-2 well has been completed. The results were consistent with the results of the long-term K-2 well test, in terms of fluid rates and composition, […]
By John Lee. Iraq's exports of 76.282 million barrels of crude oil in October brought in $6.241 billion [7.3 trillion Iraqi dinars] in revenues, according to the Iraqi Oil Ministry. AIN reports that Iraq averaged exports of 2.461 million bpd for the month at an average selling price of $81.82 dollars a barrel. These exports […]
By John Lee. Reuters reports that Iraqi Kurdistan plans to increase the capacity of its oil pipeline to the Turkish port of Ceyhan to 700,000 bpd. Work to upgrade the line is expected to boost the flow from 280,000 bpd at present to 400,000 bpd by year-end, eventually reaching the design maximum of 700,000 bpd. A […]
By Padraig O’Hannelly. Readers of Iraq Business News will already know Baroness (Emma) Nicholson of Winterbourne (pictured) as the UK’s Trade Envoy to Iraq, and as Chairman of the Iraq Britain Business Council (IBBC). We met with her recently to discuss the work of her charity, the AMAR International Charitable Foundation, which is facing new […]
By John Lee. Nechirvan Barzani (pictured), Iraqi Kurdistan's Prime Minister, has denied reports that Iraq’s State Oil Marketing Organization (SOMO) will open an office in Erbil. Kurdish MP, Dilshad Sha’ban, has also told BasNews: “After we heard reports of SOMO wants to open office in Kurdistan region, we followed on the report, and we found […]
