Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
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 […]
From Iran’s PressTV. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Negotiations between Iraq's central government and Kurdistan's regional government have been described as productive. Officials in the Kurdistan Region have sent a letter to Iraq's ruling National Alliance. The alliance has visited Kurdish […]
By John Lee. Shares in the Anglo-Turkish oil and gas company Genel Energy closed up 6.4 percent on Wednesday after it announced that the first of five exploration wells it plans to drill this year in the Kurdistan Region of Iraq has made a significant oil discovery. The company said the Chia Surkh 10 well […]
By John Lee. Nihad Mossa, director general of the Ministry of Oil's State Company for Oil Projects (SCOP), told The Jordan Times on Monday that Jordan and Iraq have signed an $18-billion agreement to build a double pipeline that will supply Jordan with crude oil and natural gas. He added that the Iraqi government is keen […]
By John Lee. Rigzone reports that the Iraqi oil ministry is planning to auction the giant 'Nasiriya Integrated Project' -- which involves the development of a $4.4-billion oil field and the building of a 300,000 bpd refinery in southern Iraq -- on 19th December. At a workshop in Amman, Jordan, for international companies interested in the […]
By John Lee. The first cargo of Iraqi Kurdistan's crude oil has been sold on the international market, industry sources report. World Bulletin says that the crude, pumped from Genel Energy's Taq Taq oilfield (pictured), was exported by truck to Turkey and sold via tender for loading in April. One trader said the cargo sold […]
In March the Iraq Club celebrated its 1st anniversary with a fun and informative event held in Dubai Marina. The anniversary event was attended by 100 senior energy and infrastructure professionals actively engaged in Iraq. The Club was honoured with a presentation by His Excellency, Ismat Ageed Siddiqi, Ambassador-Consul General to UAE–Dubai. Kyle Stelma, Managing […]
