Translated from Al-Hayat by Abdel Wahed Tohmeh, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraqi Kurdistan Region Natural Resources Minister Ashti Hawrami (pictured) said that the shares of oil companies operating in the region have exceeded $3.5 billion. He stressed the […]
Archive | Iraq Oil & Gas News
Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
Zubair Oil Contract Revised
By John Lee. Associated Press reports that the Italian oil company Eni has agreed to lower production targets at the Zubair oil field. It has also extending the length of the contract by five years. Eni says that the deal signed on Monday in Baghdad sets a new target at the field of 850,000 barrels […]
Iraq 'Fails to Resume Kirkuk-Ceyhan flows'
By John Lee. Iraq has again failed to restart exports of crude oil via the Kirkuk-Ceyhan pipeline, reports UpstreamOnline. Pumping was suspended since 21st June due to a leak in the Ain al-Jash area, around 290 kilometres northwest of Baghdad. There was a brief restoration of service last week, but flows are again reported to […]
Iraq Offers India Three Oilfields
By John Lee. Iraq has offered three discovered oilfields to India "on a nomination basis" and agreed to renegotiate a contract pending since 2000, reports Telegraph India. Oil Minister M Veerappa Moily told reporters that Iraq offered to give state-owned Indian firms the Kifil, West Kifil and Merjan oilfields in the Middle Furat region in […]
Tags: Block 8, india, Indian Oil Corporation, Kifil, MERJAN, Middle Furat, ONGC Videsh, OVL, West Kifil
BIOGH Issues First Construction Licence
By John Lee. The Basra Oil and Gas International Free Zone (BIOGH) and its development managers EPGI have issued its first construction license to Basra Mas Company in relation to an initial 10 year construction programme. Works commenced on site on the 9th July with handover to Basra Mas who this week began work on […]
Oryx Petroleum Reveals Kurdistan Plans
By John Lee. Bloomberg reports that Oryx Petroleum Corp. (OXC) is to drill a well at its Banan site in Iraqi Kurdistan in the third quarter. The company, Canada’s newest publicly traded oil explorer, is hoping to find out of the site has the same type of reserves as its Demir Dagh discovery, which has 160 million […]
Tags: Addax, Banan, Demir Dagh, exploration, Iraq Oil Production News, Kurdistan News, Oryx Petroleum
Sonoro Terminates Iraqi Agreement
By John Lee. Sonoro Energy Ltd. has announced that the Company has changed its strategy of making significant use of advisory and consulting services in Iraq to primarily utilizing its own established network. With this change, the Company has terminated its advisory and consulting agreement with Amira Management B.V. (an entity with the same principals […]
Tags: Amira Management, asphalt, Berkeley Petroleum Mesopotamia Asphalts, Canada, Geopetrol, Salahaddin, Sonoro
Video: New Electricity, Gas Deals with Iran
From Iran’s PressTV. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iran has reached an agreement with Iraq to increase its electricity exports to its western neighbor. Nearly 150 megawatt of electricity is expected to be added to the volume of Iran's electricity exports. […]
India Interested in Iraqi Refineries
By John Lee. India is interested in building refineries and petrochemical plants in Iraq, according to a report from the Economic Times. Oil Minister M Veerappa Moily (pictured), who led a 28-member delegation to participate in the 17th India-Iraq Joint Commission meeting in Baghdad, expressed interest in setting up gas-based projects including fertiliser plants. He […]
Spudding of Shaikan-10 Development Well
Gulf Keystone has announced that further to the approval of the Field Development Plan for the Shaikan field, a world class commercial discovery, announced on 26 June 2013, the Company has commenced its development drilling programme with the spudding of Shaikan-10. In parallel, production operations from the newly commissioned Shaikan production facility ("PF-1") are scheduled […]
Total Cleared of Iraqi Corruption
By John Lee. A Paris court has cleared oil company Total, its chief executive Christophe de Margerie (pictured), and over a dozen other defendants of corruption charges related to the UN's oil-for-food programme in Iraq. The former interior minister Charles Pasqua, the Swiss oil trader Vitol, and a former French ambassador to the UN, were […]
India "Interested in Importing LNG from Iraq"
By John Lee. Reuters reports that India said it is interested in importing liquefied natural gas (LNG) from Iraq, with imports of the cleaner fuel becoming attractive after New Delhi decided to raise prices of locally produced gas from April 2014. Iraq has emerged as the second-biggest crude oil supplier to India after supplies from […]