Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. India's Hindustan Petroleum (HPCL) aims to increase crude imports from Iraq by 8 percent to about 65,000 bpd in the year to the end of March 2015, as it takes up better terms offered by Baghdad. The company's director of refineries, B. K. Namdeo, told Reuters that Iraq is offering 60 days' […]
Shares in WesternZagros Resources fell 12 percent on Thursday following the announcement that it has completed a revised resources assessment of its Kurdamir Oligocene reservoir in the Kurdistan Region of Iraq and there are no material changes. On the Garmian Block, declaration of commerciality has been filed, the Baram-1 exploration well has discovered light oil, […]
Oryx Petroleum has announced that it has determined that the Demir Dagh 2 well discovery is a Commercial Discovery pursuant to the terms of the Erbil Production Sharing Contract. Oryx Petroleum is currently undertaking an extensive appraisal program in relation to the full Demir Dagh field, and will continue to undertake such appraisal activities through […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Many countries impose capital gain tax on individuals, companies and corporations when a profit realized from the sale of assets. National and state legislation often has a large array of fiscal obligations […]
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. Iraqi Kurdistan vs Baghdad: Oil Crisis Not About Money, its About Independence The announcement by Iraqi Kurdistan that they had started exporting oil to Turkey, despite numerous warnings from […]
By Robert Tollast. Robert Tollast is a consultant at Noorbridge, a Helsinki based consultancy with staff in London and Nasiriyah, Iraq. He has written extensively on security, politics and economic issues in Iraq for various publications, and is currently researching a modern history of Iraq with support from The Middle East Forum. email: [email protected] twitter: […]
By John Lee. The Korea Gas Corporation (KOGAS) is among the state-owned Korean energy firm that have come under heavy pressure from the country's new government to shed assets and pay off debt by 2017, reports Reuters. Korea's Yonhap news agency says that the company is considering selling a 49 percent stake in its fully-owned […]
The Governments of the Republic of Iraq and the United States of America reaffirmed their commitment to joint cooperation in the areas of oil production and export, natural gas, electricity resiliency and reliability, clean energy, and critical energy infrastructure protection during the second meeting of the Joint Coordination Committee (JCC) on Energy, held February 5, […]
By John Lee. Oil exports from Iraq to Jordan have been halted due to deteriorating security in Anbar province, according to a report from Reuters. A spokesman for the Ministry of Oil said: "Due to security developments in Anbar and because the transfer of oil to Jordan is done by truck, which needs safe passage […]
By Mustafa al-Kadhimi for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. What are the prospects of a permanent solution for governing relations between the Iraqi Kurdistan Regional Government (KRG) and the federal government in Baghdad? This is a question without an answer in […]
By John Lee. The Iraqi government has reportedly engaged the law firm Vinson and Elkins to target buyers of the crude oil which they say is being illegally exported from Iraqi Kurdistan. A anonymous Iraqi source told Reuters: “This is not a game. Anyone who buys this oil is doing something illegal ... We will target […]
The KRG Ministry of Natural Resources (MNR) announces the publication of its first Monthly Report. The Report contains the latest information on production and export in the Kurdistan Region, domestic refining and consumption, well activity, rig counts and map, employment figures and updates on Production Sharing Contracts. The report will help interested citizens, companies and […]
