Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. China Petrochemical Corporation, also known as Sinopec, is still unable to participate in projects in central and southern Iraq four years after it acquired a project in northern Kurdistan, reports the Wall Street Journal. The company held talks with Russia's Lukoil about jointly developing the West Qurna-2 oil field, but Lukoil's chief […]
By John Lee. DNO International has announced today that it has initiated sales from its second horizontal well in the Tawke field in the Kurdistan region of Iraq following testing at a new record rate of 32,500 barrels of oil per day. Each of ten independent fracture corridors penetrated by a 930-meter horizontal section in […]
By John Lee. Prime Minister Nouri al-Maliki says Iraq has signed a $6 billion deal with Swiss company Satarem to build and run southern Iraq's first new, large-scale refinery in 30 years. The oompany will set up the 150,000 barrel-per-day refinery near Amara, in Missan [Maysan] province, on a 50-year build-own-operate (BOO) contract. Satarem was created […]
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. Iraqi Prime Minister Nouri al-Maliki, in an exclusive written interview with Al-Monitor, said that Iraq supports a “transitional government that will manage affairs until elections are held and a constitution is […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraq and European Union Energy Cooperation: A New Important Milestone In June, 2013 Iraq and the European Union-EU signed financial agreement pertaining to establishing the Iraq-EU Energy Centre in Iraq. This came […]
By John Lee. Shell has officially inaugurated Iraq's huge Majnoon oil field on Sunday, and said it aims to reach 175,000 barrels a day in the coming weeks. Production from the field's first well started on 20th September, and Hussein al Shahristani, the Iraqi deputy prime minister for energy, said in Dubai that output is […]
By John Lee. ShaMaran Petroleum has announced that the Atrush partners have received approval from the Kurdistan Regional Government (KRG) for the first phase in the development of the Atrush Block. The TAQA-operated Block, located 85 km northwest of Erbil, is expected to initially produce approximately 30,000 barrels of gross oil per day (bpd) with […]
By John Lee. Rudaw reports that the KRG’s Minister of Natural Resources, Ashti Hawrami (pictured), has dismissed as “inaccurate and misleading” claims by Dana Gas that the KRG owes the company millions of dollars in overdue payments. In a letter sent to Dana Gas managing director, Majid Hamid Jafar, he said: “The statements made in […]
By Omar al-Shaher for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The project designed to distribute the country’s oil revenue surplus directly to Iraqis is once again at the forefront of recent events, as political blocs have begun to prepare for the general […]
By Saleem al-Wazzan. 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. Fighting for Clean Air: Locals Living Near Basra Oil Wells Move Because of Pollution The oil wells in southern Iraq have made the areas relatively prosperous. […]
By John Lee. The National Iranian Drilling Company (NIDC) has signed an agreement with the Iraqi Drilling Company under which Iran will provide personnel training and supervision of Iraqi drilling operations. According to a report from Iran's PressTV, the agreement was signed by NIDC Managing Director Hamid-Reza Golpayegani and Deputy Director-General of the Iraqi Drilling […]
A pipeline to export oil from the Kurdistan Region will be operational within a few months, Ashti Hawrami (pictured), the Kurdistan Regional Government Minister of Natural Resources, told a meeting at the UK's Conservative Party conference yesterday. 'The new oil export pipeline from the Kurdistan Region is almost complete and is expected to be operational […]
