Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Turkey and Iraq have worked out a new oil pipeline deal. The idea has caused a serious rift with Baghdad, which says it has the sole right to control sales of oil and […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. China and CNPC are Consolidating Further their Positions in Iraq Petroleum Sector Four years after the first bid round took place, some international oil companes (IOCs) are consolidating their positions. while others […]
KRG Prime Minister Nechirvan Barzani, speaking at a conference in Erbil today (Tuesday), highlighted Kurdistan Region’s contribution to the global energy market and reiterated Kurdistan’s commitment to the Iraqi constitution in the Region’s dealings with Turkey. The Prime Minister referred to the discussions over the past two years between the Kurdistan Regional Government and Turkey […]
By John Lee. ExxonMobil signed agreements on Thursday with PetroChina for a 25 percent participating interest in the West Qurna I project in Iraq, and with Indonesia's Pertamina for a 10 percent participating interest in West Qurna I. ExxonMobil retains 25 percent interest and remains lead contractor. The transfer has been approved by the South Oil […]
A consortium of architecture and design firms from Michigan, USA, has been hired to design a $600 million, 2.8 million-square-foot new petroleum engineering university in Basra. CBS Detroit reports Iraq’s Minister of Higher Education and Scientific Research, Ali Al-Adeeb, has been touring projects created by the firms that are part of Icon Global Architecture Engineering […]
Baker Hughes is preparing to resume operations in Iraq after protests in Basra prompted the company to issue force majeure notices to its customers. Reuters reports that Derek Mathieson, Baker Hughes' vice president, told an investor conference: "We have initiated the resumption of operations ... Within the coming weeks, we will be working toward becoming […]
By John Lee. Vitol and Glencore have finalised term contracts to sell over 1.5 million tonnes of gasoil to Iraq's State Oil Marketing Organisation (SOMO), reports Reuters. Vitol will supply four cargoes of 500 ppm sulphur gasoil, along with three cargoes from Glencore, through 2014 at a premium of $7.37 a barrel over Middle East quotes […]
By John Lee. Russia's Gazprom Neft has postponed initial production at the Badra oilfield until next year, due to safety concerns and logistical problems. Reuters reports that the company announced in a Eurobond prospectus that it had postponed the December launch due to "the failure on the part of certain contractors to fulfill their contractual […]
In light of the recent events in Basra, Iraq Future Energy and Iraq Energy Forum - which was due to be held from 26 – 28 November 2013 at the Iraq Energy City in Basra, Iraq - will now take place from the 3 – 5 June, 2014. Kay Mitchell, Portfolio Director - Middle East, […]
By John Lee. Egypt's Petrojet has won a $100-million tender to design, supply and install the butane pipeline project from Nasiriyah to Khor Al-Zubair in Basra. Company boss Mohamed Shemy [Mohamed Shimy] said the project is to be completed within 18 months. According to a report from Egypt Independent, the company beat competition from Russia, […]
By John Lee. Russia's Gazprom Neft has picked a contractor to drill six production wells in the Badra field in Iraq which it operates. China’s Zhongman Petroleum and Natural Gas Group Co., Ltd (ZPEC) has won the tender. The contract includes engineering, procurement and drilling of wells. Two rigs will start drilling in March 2014. […]
By John Lee. Oil Review Middle East reports that the Kuwait-based Safwan Petroleum Technologies Company (SPETCO) has said that it is looking to expand its upstream oil and gas services in Iraq and Saudi Arabia. Anish Abraham, the company's manager of OFS/BD, told ORME that its specific attention in terms of marketing and distribution was […]
