Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. Reuters reports that Iraqi Kurdistan has shipped a total of nineteen tankers carrying 13.7 million barrels of crude oil since May, using its new pipeline to the Turkish port of Ceyhan. An official told the news agency that the flow of oil continues without any issues, and a 20th tanker will be […]
By John Lee. Robt. Stone (ME) LLC (RSME) has to announced that it has signed a Joint Venture agreement with NSCC International Limited (NSCC), under the name of “NSCC-RSME”, to exclusively bid together for "projects of mutual interest beyond UAE with a particular focus on Iraq". The Joint Venture will primarily pursue EPC (Engineering, Procurement […]
By John Lee. Iraqi Oil Minister Adel Abdul-Mahdi [Adil Abd al-Mahdi] has reportedly promised to make Basra the economic capital of Iraq, but added that there are many obstacles to be solved in achieving this. During a visit to oil and gas installations in southern Iraq, the Minister pointed out the importance of the South […]
By John Lee. As part of its Interim Statement, Petrel Resources has given the following update on its Iraq operations: "The political uncertainty and civil strife in the Middle East makes it difficult to be optimistic about our activities in Iraq. But progress has been made. A new government has been formed. The Minister of […]
By John Lee. Improved weather conditions and the resolution of some logistical delays have led to an increase in oil exports from Iraq's southern terminals. According to information gathered by Reuters, exports have averaged 2.58 million barrels per day (bpd) for the first 23 days of September, equal to the record post-2003 high achieved in […]
By John Lee. Iraq's Petroleum Research & Development Center (PRDC), part of the Iraqi Ministry of Oil, has successfully patented a new chemical to enhance the octane rating of gasoline. Mr. Kareem Abd Al-Hassan Alwan, the director of PRDC, said that the chief chemist Mr. Zaidoon Khalaf Alsaaidi earned patent No. 3979 for the invention, […]
By John Lee. Iraqi Oil Minister Adel Abdul-Mahdi [Adil Abd al-Mahdi] has met with a Kuwaiti delegation led by the country's Ambassador to Baghdad, Ghassan al-Zawawi, to discuss cooperation in the energy sector. The Minister praised Kuwait for its economic and political support for Iraq, and praised Kuwaiti companies for their contribution to the development […]
By John Lee. Syscom 18, the Romanian-based system integrator for the oil and gas sector, is reported to be "grappling with" the effects of the ongoing conflict in Iraq. General Manager Ion Andronache told Business Review that projects worth “several millions of euros annually” are at risk and could have a negative impact on its turnover. […]
Iraq Energy Sector: Reality & Expectations by Ahmed Mousa Jiyad, Iraq/ Development Consultancy and Research, Phone: (+47) 5659 5699 Email: [email protected] I was the guest speaker kindly invited by Brussels Energy Club (BrEC) for this season’s event that took place in Brussels on 11 September 2014. The event was limited to BrEC members and personal […]
Some of Britain’s most successful businessmen and women will fly to Erbil tomorrow (September 23rd) on a Trade Mission designed to show the UK’s continuing support for the resilience of the Kurdistan region of Iraq’s infrastructure, society and economy. Organised by the Iraq Britain Business Council (IBBC), the group will spend three days meeting senior […]
By John Lee. Reuters reports that Iraq's oil exports fell from $7.8 billion in July to $7.1 billion in August. Citing sources at the State Oil Marketing Organisation (SOMO), the report said that 73.6 million barrels of oil were exported in August at an average price of $97.4 per barrel, down from $102.8 in July. […]
By John Lee. The Kurdistan Region of Iraq has exported more than 14 million barrels of oil from its independent oil pipelines to Turkey in the last nine months, according to a report from BasNews. A spokesman for the KRG's Natural Resources Committee told the news agency that the exports have brought in over 1 […]
