Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
Following approval of its declaration of commerciality by the Kurdistan Regional Government (KRG), WesternZagros Resources has announced that it is moving to develop the first of its two significant light oil discoveries. Once its development plan for the Sarqala field is approved, the Company expects to produce up to 10,000 barrels per day (bbls/d) of […]
By John Lee. Oryx Petroleum has announced two positive updates on its operations in the Hawler license area in Iraqi Kurdistan, in which the company has a 65 perccent participating and working interest: Testing of the DD-4 appraisal well on the Demir Dagh field achieved expected flow rates and confirmed reservoir and fluid characteristics. Henry Legarre […]
Gulf Keystone Petroleum (GKP) has this morning provided an Operational and Corporate update, and released a third party audit of the Company's reserves, contingent resources and prospective resources for its petroleum interests in the Kurdistan Region of Iraq. Summary The Company continues to maintain current stable production and sales levels of approximately 10,000 barrels of […]
Thales has been awarded a contract to provide an Integrated Security System (ISS) for the West Qurna-2 oil field development located 65 km northwest of Basra in Southern Iraq. This contract has been signed with LUKOIL Mid-East Ltd, a subsidiary of the Russian oil company LUKOIL. Thales will design and deploy the Integrated Security System […]
By John Lee. Iraq is to invest in the construction of a refinery in East Borneo, Indonesia. Indonesian Energy and Mines Minister, Jero Wacik (pictured), said that if construction started this year, the new refinery would start production by 2018. Platts reports that the head of the Iraqi delegation, Delman N Abdullah, said that Iraq agreed […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. MENA Natural Resources Governance Knowledge Hub – A Conceptual Framework In a constructive collaboration effort between Revenue Watch Institute (RWI) and the Lebanese Center for Policy Research (LCPS), a two day closed […]
By John Lee. Iraq produced oil at a rate of 3.5 million bpd in February, and exported at a rate of 2.8 million bpd, a sharp month-on-month gain and the highest such figure in at least a quarter-century, reports AFP. The deputy prime minister for energy affairs, Hussain Al Shahristani (pictured), said February output would have […]
Gazprom Neft has completed laying, testing and connecting a 165 km oil pipeline from the Badra field, which the Company operates in Iraq, to the Gharraf oilfield (Nasiriyah district, Iraq). With infrastructure already in place at Gharraf, completion of the pipeline from Badra means that the field is now connected to the main Iraqi pipeline […]
Genel Energy has announced its preliminary audited results for the year ended 31 December 2013: Results summary KRI export pipeline infrastructure complete and in the commissioning phase. Volumes of KRI oil in storage at Ceyhan continue to grow Turkey-KRG Gas Sales Agreement a significant milestone in the commercialisation of Miran and Bina Bawi gas fields […]
By John Lee. The Minister for Oil Abdul Kareem Luaibi [Elaibi] has received the Sudanese Minister of Oil, Mr. Makkawi M. Awadh, and his delegation in his office in Baghdad. Following the meeting, Mr. Luaibi said: "We discussed [how] to supply Sudan with crude oil, as well as the possibility to participate in building a […]
By John Lee. French oil giant Total is reported to be considering building a "world-scale" petrochemical complex in Iraq. AFP reports that Patrick Pouyanne, the head of Total's refining and chemicals division, said he signed a preliminary accord with Iraq's industry ministry in November to examine the feasibility of the complex in Basra. "They are […]
This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Baghdad's Financial Blockade: Iraqi Kurdistan Talks Independence While Locals Strike Conflict between Baghdad and Iraqi Kurdistan over oil exports has resulted in something of a financial crisis in the northern region. […]
