Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. Afren announced today that Willkie Farr & Gallagher (UK) LLP (WFG) has completed its independent review into the receipt of unauthorised payments by members of management and senior employees. In connection with the conclusion of this review, the company has decided to terminate the employment and directorships of Osman Shahenshah and Shahid […]
By John Lee. In its Interim Management Statement on Tuesday, Dragon Oil gave the following update on its Iraqi operations: "On 10 September 2014, the consortium comprised of Kuwait Energy (70% and operator) and Dragon Oil (30%) reported its first oil discovery at Block 9, Iraq. "The successful discovery was at the consortium's first target, […]
By John Lee. Platts reports that Iraq has banned three oil tankers from loading at its oil terminals. in response to direct exports of crude by the Kurdistan Regional Government over the objections of Baghdad, shipping market sources said Friday. The United Carrier (pictured), the United Dynamic and the Nautilus have previously transported crude on […]
By John Lee. Petrofac has also been awarded a major contract in Iraq to provide general construction management services to BP Iraq NV (BP) on the Rumaila field near Basra. Petrofac will provide management and personnel to manage brownfield modifications to assist BP – and its partners in the Rumaila Operations Organisation (ROO), China National […]
By John Lee. Iran’s oil minister, Bijan Namdar Zanganeh (pictured), has said that Iran is actively working in all the oil fields it shares with Iraq, and will extract its entire share of oil in these joint fields. The was speaking during a visit to Cheshme Khosh Oil Company in Dehloran, near the Iraqi border. […]
By John Lee. In its Drilling and Production Update issued today (Friday), Dragon Oil has said that it plans more detailed testing at its Mishrif site: "On 10 September 2014, the consortium comprised of Kuwait Energy (70% and operator) and Dragon Oil (30%) reported its first oil discovery at Block 9, Iraq. "The successful discovery […]
By John Lee. A tanker carrying crude oil from Iraqi Kurdistan is finally believed to have been unloaded. The United Leadership had been sitting off the Moroccan coast for more than three months, but Reuters reports that at the end of September it sailed away and appears to have been lightered somewhere in the Mediterranean. […]
By John Lee. Lukoil president Vagit Alekperov (pictured) is to meet Iraq's Minister for Oil, Adel Abdul-Mahdi [Adil Abd al-Mahdi], to discuss the expansion of the company's operations in the country. The head of the Russian oil company told journalists: "I will be in Baghdad on October 13 to meet the oil minister. I hope, […]
Transparency Governance in Iraq’s Extractive Industry at a Crossroads by Ahmed Mousa Jiyad, Iraq/ Development Consultancy and Research, Phone: (+47) 5659 5699 Email: [email protected] Iraq has done rather well by joining and acquiring compliance status with Extractive Industry Transparency Initiative (EITI). Significant aspects of transparency are observed; vital entities created and annual reports delivered. Yet, […]
By John Lee. Shares in Irish-based Petroceltic International have risen more than 20 percent on Monday following the announcement of that the company is in detailed discussions regarding a possible offer to be made by Dragon Oil. With the support of the Board and management team of Petroceltic, Dragon Oil has completed an extensive confirmatory […]
By John Lee. Rudaw reports that Russia's Gazprom Neft has been forced to halt operations at its Halabja block following demonstrations by hundreds of protestors from 34 villages around the town of Darbandikhan. According to the report, the protesters have given the oil company until 20th October to stop all exploration activity, claiming that “scientific […]
By John Lee. Denmark's Maersk Oil is re-starting its operations in Iraqi Kurdistan, having pulled out in August due to the threat posed by the Islamic State (IS). Company boss Jakob Thomasen (pictured) told Børsen: “It’s obvious that the things that have happened over the summer haven’t been pleasant to witness for Maersk Oil, a […]
