Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. The Missan Oil Company (MOC) has announced that new oil rigs are being installed at the Halfaya oil field to increase the number of new wells in the second stage of developing the field. The Director General of the company said that two new rigs belonging to PetroChina have already arrived and […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraqi EITI Report 2011: The Need to Act Promptly, Effectively and Properly This contribution was based on PowerPoint presentations I delivered before “EITI Beyond Compliance Report Analysis Workshop” organised by Revenue Watch […]
By John Lee. France24 reports that Chevron has signed another oil exploration deal in Iraqi Kurdistan. The contract, under which Chevron will acquire an interest in and operatorship of the Qara Dagh block production sharing contract, is the company's third in the autonomous region; it was previously barred from working in non-Kurdish parts of the country […]
By John Lee. India's external affairs minister, Salman Khurshid, starts a two-day visit to Iraq on Wednesday, during which he will hold talks with top Iraqi leadership on issues including the supply of oil. Khurshid, the first senior Indian leader to visit Iraq since 1990, is expected to call on Prime Minister Nouri Al-Maliki, and […]
By Hiwa Barznjy. 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. Iraqi Kurdistan has a sea of oil and politicians are eager to exploit the resource. But one expert says oil extraction must be more carefully managed. […]
By John Lee. Iraq unveiled a new energy strategy on Wednesday that aims to raise $6 trillion from oil and gas sales by 2030 and massively increase local power generation, reports AFP. The Integrated National Energy Strategy (INES) would see Iraq invest $620 billion in the sector over nearly 20 years. Thamir Ghadhban (pictured), former […]
By John Lee. Japan has offered a loans of about 120 billion yen ($1.24 billion) to Iraq to build a new refinery and rebuild a port. Nikkei reports that Japan will initially lend 82.7 billion yen to build a refinery to extract natural gas liquids at the Rumaila oil field, while a second loan of […]
By John Lee. DNO International announced today that its deep Tawke-17 well tested 1,500 barrels a day of 26-28 degree API crude oil from an Upper Jurassic reservoir underlying the Tawke field in the Kurdistan Region of Iraq. Separately, the Tawke-20 well, the Company's first horizontal well in the Tawke field, has flowed an average […]
By John Lee. At today's AGM of Afren, which has operations (pictured) at Barda Rash in Kurdistan, the Chairman Egbert Imomoh opened the meeting with the following statement: Our vision to be the leading independent upstream Exploration and Production (E&P) Company in each of the areas we operate is underpinned by a clear and consistent […]
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. Technip, a French company specializing in the management of energy producing installations, received a “significant contract” in the second phase of the oil refinery project in the Iraqi province of Karbala, […]
The American University of Iraq, Sulaimani [Sulaymaniah] (AUIS) announced today that it is the beneficiary of a generous donation from Genel Energy. The bequest of $20 million USD, which was facilitated by the Kurdistan Regional Government and is part of Genel’s commitments to enhance the infrastructure of the Kurdistan Region, enables AUIS to continue to […]
Who is the biggest winner from the recovery in Iraqi oil production? Denise Natali, a Middle East expert at the National Defense University in Washington, told the New York Times: “The Chinese are the biggest beneficiary of this post-Saddam oil boom in Iraq ... They need energy, and they want to get into the market.” […]
