Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
The Missan Oil Company (MOC) has announced that it has finished building a 1,700-metre runway in the Halfaya area. It will be used to transport employees of companies like CNOOC and Petrochina to and from the international airport at Basra. Mr. Ali M. Al-Bahadli, the director general of the MOC, said the runway is 30 […]
By John Lee. Shares in Irish-based exploration group Petroceltic International (PCI) were up 3 percent in early trading on Monday, following the release of its preliminary results. The results included the following statement on its operations in Iraqi Kurdistan: "Since 2005, the Kurdistan Region of Iraq has become one of the most active exploration locations […]
By John Lee. Shares in Genel Energy opened 1.5 percent higher on Monday morning following the company's interim management statement for the period from 1 January 2013 to today. This statement is issued ahead of Genel Energy's Annual General Meeting, which is being held at 11.00am today at the Sofitel St James's, 6 Waterloo Place, […]
Iranian Oil Minister, Rostam Qassemi [Qasemi] (pictured), has said that Iran is keen to expand oil cooperation with Iraq. Speaking on the sidelines of an oil conference in Tehran, he told reporters that cooperation in joint oil fields and exporting Iranian gas to Iraq are examples of the growing cooperation between the two countries, adding […]
By John Lee. Commenting in Oilprice.com on the newly-announced, $18-billion pipeline from Iraq to Jordan, John C.K. Daly says that while it is easy to understand the appeal of such a project in energy-starved Jordan, the geopolitical issues remain significant and seemingly unresolved. The 1,043 mile-long dual pipeline would be capable of transporting one million barrels of […]
By John Lee. Hundreds of locals blocked a main entrance of Iraq's giant southern West Qurna-2 oilfield on Tuesday. According to Iraq Oil Report, local residents have long complained that oil development has caused them to lose agricultural land for which they have not been adequately compensated, while many expected to receive jobs at oil […]
Iraq's oil ministry is raising its estimate for the country's proven oil reserves by nearly 5 percent, from 143 billion barrels to 150 billion barrels, according to a report from UPI. Oil Ministry spokesman Assem Jihad said the higher figures are the result of increased exploration over the past two years, adding that the revised estimates […]
The Iraqi embassy in Cairo says there are "no further plans" regarding an oil pipeline from Iraq to Egypt, but confirmed that Iraq's State Company for Oil Projects (SCOP) signed an agreement for the export of oil to Egypt. "There is currently an agreement between us, but we haven’t yet received any official communications from […]
The KRG's Natural Resources Minister, Ashti Hawrami (pictured), has said that the Kurdish region could export 250,000 barrels of oil a day this year and is "on track" to ship 1 million bpd by 2015 and 2 million by 2019. "We need to get oil from the Kurdistan region -- and more widely from northern […]
By John Lee. The Iranian Deputy Oil Minister Javad Oji (Owji, Ouji) (pictured) has announced that the country will start exporting 40 million cubic meters (mcm) a day of natural gas to Iraq by summer 2013. Iran's PressTV reports that an agreement has been reached to supply Iraq via two separate routes. Construction of the “friendship” pipeline […]
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. The visit of a delegation representing the Iraqi National Alliance to the Iraqi Kurdistan Region and its meeting with the region’s president, Massoud Barzani (pictured), was largely considered a step toward […]
By John Lee. Italy's Techint Engineering and Construction has won a $387.8 million contract to build housing for workers at the Zubair oil field, reports Fox Business. Techint will build a village for workers and a regional office for operating partners in the field, the Iraqi council of ministers said, adding that work in the […]
