Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
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 […]
By John Lee. A British employee of security firm G4S has reportedly been injured by a group of workers at a Schlumberger camp near the Rumaila oilfield. The Daily Star says the man had tried to remove a picture of Imam Ali, and flags and pamphlets commemorating Imam Hussein, venerated figures in Shiite Islam, allegedly […]
From Jewish News One. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Disturbing video footage has appeared of dozens of angry Shi'ite Muslim workers storming a Schlumberger Ltd camp at the Rumaila oilfield and beating a British security adviser they accused of insulting their […]
By John Lee. Iraq's deputy prime minister for energy, Hussain al-Shahristani (pictured), has said that 'Big Oil' is about to spend over $25 billion next year to boost oil output towards record levels. He predicted that the southern fields are expected to pump an extra 500,000 bpd in 2014, compared to just over 3 million […]
By John Lee. Reuters reports that Iraqi Oil Minister Abdul Kareem Luaibi [Elaibi] and BP CEO Bob Dudley (pictured) paid a visit to Kirkuk on Wednesday to win over the local government before the company starts work on this controversial northern oilfield that straddles the border with autonomous Kurdistan. Baghdad signed a deal in early […]
By John Lee. Marathon Oil Corporation has announced that the Mirawa-1 exploration well has discovered multiple stacked oil and natural gas producing zones on the Company's operated Harir Block in the Kurdistan Region of Iraq. Located approximately 40 miles northeast of Erbil, the Mirawa-1 well was drilled to a total depth of approximately 14,000 feet. […]
One of the largest oilfields in the world is back in operation after an unorthodox upgrade. The boost in oil production from the Majnoon field in southern Iraq is expected to contribute significantly to meeting global energy demand. It could also help regenerate a country ravaged by war. But redeveloping what was once a raging […]
