Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
Gulf Keystone Petroleum (GKP) has announced that Todd Kozel has decided to stand down from the Board of Directors of the Company and not to accept the previously announced role of Executive Director upon retiring as Chief Executive Officer. As such, Mr Kozel declined to seek re-election to the Board at the company's Annual General […]
By John Lee. Oil Minister Abdul Kareem al-Luaibi [Elaibi] (pictured) said on Wednesday that Iraq is currently producing oil at a rate of 3.15 million bpd, and expects exports this month to average 2.6 million bpd. Reuters quotes Luaibi as saying that the recent fighting in the north and west of the country had not […]
By John Lee. The Kurdistan Regional Government (KRG) has rejected a statement by Abu Dhabi-listed Dana Gas to the effect that the London Court of International Arbitration had awarded the company the right to receive some outstanding payments from the Kurdish government. Dana Gas said on Sunday that its consortium with Crescent Petroleum and Pearl Petroleum […]
By John Lee. In a Trading Statement on Tuesday, Dragon Oil gave the following update on its operations in Iraq: In Iraq, the consortium of Dragon Oil (30%) and Kuwait Energy Corporation (70% and operator) is drilling an exploration well. The well is targeting two prospective reservoirs, which, in case of a discovery, are expected […]
By John Lee. Kurdish politicians officially suspended their participation in the Iraqi government on Friday, as forces under their control seized two oilfields in northern Iraq. Prime Minister Nouri al-Maliki has appointed temporary replacements for the five Kurdish ministers of the cabinet. Kurdish forces took over the Bai Hassan and Kirkuk oilfields near Kirkuk; an […]
KRG statement on recent events at oil facilities and infrastructure in Makhmour district This morning, members of the Kurdistan Regional Government (KRG) and Kirkuk Oil Protection Forces moved to secure the oil fields of Bai Hassan and the Makhmour area, after learning of orders by officials in the federal Ministry of Oil in Baghdad to […]
By Padraig O'Hannelly. The Kurdistan Regional Government (KRG) has upped the ante in the continuing dispute with Baghdad over oil export revenues. In response to what it describes as "the Iraqi federal government ... not sharing revenues in accordance with the Iraqi Constitution", the KRG has threatened to take legal action against anyone who buys […]
By John Lee. Oil Minister Abdul Kareem al-Luaibi [Elaibi] (pictured) has said that the Iraqi government is dedicated to supplying the ideal safe environment for international companies working in Iraq: "Work in oil refining facilities and oil fields is normal and the ministry has supplied the extra protection needed for those locations by coordinating with […]
By Ali Hashem for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Many in Baghdad fear that Iraq is falling apart, given the complex situation that saw the oil-rich country divided into three parts: an autonomous Kurdish region, a Sunni de facto state, while the Shiites, […]
The Kurdistan Regional Government (KRG) threatened on Wednesday to take legal action against buyers of Iraqi oil unless the autonomous region is paid its share of revenue from any sales. The full text of the statement from the KRG follows: Under Article 112 of the Iraqi Constitution, the Iraqi federal government is legally required to […]
By John Lee. Oryx Petroleum Corporation announced a production and drilling update on Monday for the Demir Dagh field in the Hawler license area in the Kurdistan Region of Iraq, including test results for the Demir Dagh-6 appraisal well (“DD-6”). Oryx Petroleum is the operator and has a 65% participating and working interest in the […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Turkish truck drivers continue to make the voyage to Iraq despite the country's volatile state. Iraq is Turkey's second largest export market and despite the dangers, it remains an important source of trade. […]
