Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
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 […]
By John Lee. Local authorities in Basra province have reportedly threatened to break away from the central government and create an autonomous region of their own. The idea was rekindled by MP Wail Abd al-Latif, who told Rudaw: “Efforts toward making Basra an autonomous region is a project and not a trump card against the […]
The State Secretary at the Ministry of Foreign Affairs of Hungary, Mr. Zsolt Nemeth, has received the Head of the KRG Department of Foreign Relations, Minister Falah Mustafa to discuss a number of issues including ways to further enhance mutual relations. The meeting was also attended by the Hungarian Ambassador to Iraq, Mr Tibor Szatmari. […]
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. Legal Loopholes in Oil Industry Threaten Iraqi Kurdistan’s Environment The region of Iraqi Kurdistan is brimming with untapped oil resources. And multi-national oil companies know it. But because of […]
By John Lee. The head of refineries at Hindustan Petroleum (HPCL) has told Reuters that Iraq is willing to double the credit period on crude sales to 60 days if Indian refiners buy more in 2014. B.K. Namdeo added: "Iraq is very positive. They are willing to raise credit period to 60 days and waive […]
By John Lee. The Wall Street Journal reports that Shell and the Iraqi government are nearing a deal to build an $11-billion petrochemical facility in southern Iraq. In addition to its development of the Majnoon oil field, Shell also signed a $17.2-billion deal last year to collect natural gas from Iraq's southern oil field production. […]
By John Lee. As part of its results for Q3 2013, Oryx Petroleum gave the following update on its Iraqi operations: Demir Dagh Appraisal - The Corporation has significantly progressed its appraisal plan for the Demir Dagh discovery. Oryx Petroleum has a 65% participating and working interest in the Hawler license area. Key highlights include […]
By John Lee. ShaMaran Petroleum has announced its financial and operating results for the three and nine months ended September 30, 2013. (Unless otherwise stated all currency amounts indicated as "$" in this news release are expressed in thousands of United States dollars): Highlights The Company announced on October 30, 2013 that its USD 150 […]
By John Lee. Shares in DNO International, the Norwegian oil and gas company with significant interests in Iraqi Kurdistan, were trading up 5.4 percent on Thursday morning after the company announced third quarter 2013 net profit of NOK 282 million [$45 million] on operating revenue of NOK 810 million [$130 million]. The shares are now […]
By Semih Idiz for Al-Monitor . Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. It is no secret, thanks to frequent leaks to the media, that energy cooperation between Turkey and the Kurdistan Regional Government (KRG) is continuing apace. This, however, has not broken […]
By John Lee. Baker Hughes has announced that a protest incident by local residents occurred last Saturday at a subsidiary's facility near Basra. No injuries were suffered and the facility was secured. The incident is currently under investigation. Due to the significant disruption of business, Baker Hughes has suspended operations in Iraq, and has issued […]
By John Lee. Iraqi Kurdistan has finalized a comprehensive package of deals with Turkey to build multi-billion dollar oil and gas pipelines. Reuters reports that the deals could see Kurdistan export some 2 million barrels per day (bpd) of oil to world markets and at least 10 billion cubic meters per year of gas to […]
