Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. Andrei Kuzyayev [Andrey Kuzyaev] (pictured), head of Lukoil's overseas operations, has said that Lukoil plans to reach commercial levels of oil production at West Qurna-2 in the first quarter of 2014, and is interested in participating in the Kirkuk oilfield in northern Iraq. He told Reuters: "There are no infrastructure risks [in […]
By John Lee. Reuters reports that Iraq's southern oil exports averaged 1.821 million barrels per day (bpd) in September. This is down from from the 2.308 million bpd in August as a result of maintenance work at that al-Basra Oil Terminal (ABOT) (pictured). The work has closed two of the port's four berths, and the […]
By John Lee. The KRG's Ministry of Natural Resources plans to monitor tanker trucks carrying fuel from local refineries to petrol stations in order to regulate the price and quality of petrol in the region, according to a report from Rudaw. Petrol stations receiving petrol from the government at a subsidized price are required to […]
By Walid Khadduri for Al-Monitor, translated from Al-Hayat. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. On Sept. 14, 2013, the Iraqi parliament's Oil and Energy Committee published a report drafted by the advisory board of the Prime Minister's Office, which indicated that Iraq […]
By Ahmad al-Sayegh. 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. Refining crude oil at home is a major business in eastern Syria, near the Iraqi border. And Islamic militias in charge here are selling the crude […]
By John Lee. Iraq's Deputy Prime Minister for Energy, Hussain al-Shahristani (pictured), has said the company is on track to pump 3.7 million barrels a day of crude by the end of the year. He told a conference in Dubai: "Iraq will easily pass 3.5 million barrels a day before the end of the year […]
By John Lee. Iraqi Deputy Prime Minister for Energy Hussain al-Shahristani (pictured) has asked the Kurdistan Regional Government (KRG) to connect its new oil pipeline with Baghdad's Kirkuk-Ceyhan pipeline in a way that allows Baghdad to measure oil flows, according to Reuters. The KRG is expected to complete the 300,000-bpd pipeline in the coming weeks, […]
Shares in Petrel Resources fell 7 percent on Tuesday following the publication of the company's Interim Statement for the period ended 30 June 2013. Highlights: · Iraqi investment enhanced through 20 per cent shareholding acquisition in Amira Hydrocarbons Wasit B.V. This deal gives Petrel an immediate effective 5 per cent carried interest through to production […]
By John Lee. Oil officials confirmed on Monday that a leaking pipeline in the south of the country had been repaired, but planned work at the al-Basra Oil Terminal (ABOT) was continuing to restrict exports. The leaking pipeline had caused a drop in output from the Rumaila oilfield. Reuters reports that Iraq had restored normal […]
By John Lee. The provincial council of Nineveh has reportedly granted its governor the power to sign deals with foreign oil firms independently of Baghdad, which rejected the move as unconstitutional. a predominantly Sunni Muslim governorate in Iraq's northwest, is following the example of the autonomous Kurdistan region, which has pursued an increasingly independent energy […]
By John Lee. BP and China National Petroleum Corporation (CNPC) have received a total of $4.5 billion until the end of 2012 for their investments in the Rumaila oil field, according to a report from the Wall Street Journal. A senior Iraqi oil official told the newspaper that Baghdad has paid a total of $8.5 […]
By John Lee. Genel Energy and DNO International have signed a Gas Sales and Purchase Agreement with the Kurdistan Regional Government to supply gas from the Summail field in the Dohuk licence in the Kurdistan Region of Iraq. The gas will partially displace diesel currently used to generate electricity in a 500 MW power plant […]
