Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
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 […]
By Ahmed Mousa Jiyad. On behalf of the Iraqi Government and IEITI, Mr. Alaa Mohie El-Deen, General Secretary of Iraqi Extractive Industries Transparency Initiative (IEITI), invited me to attend the EITI Compliance & Second IEITI Report Conference held at Al-Rasheed Hotel on 3 April, and asked me to make a presentation, which took place at […]
The following is a statement by Kurdistan Regional Government on what it describes as "the manipulation of the EITI process": The EITI oil transparency report that inexplicably disappeared In 2008, the then federal Deputy Prime Minister, Barham Salih, committed Iraq to achieving compliance with the Extractive Industries Transparency Initiative (EITI), which aims to help citizens […]
By Matthew Gayle. According to Bloomberg, Oil Minister Abdul Kareem al-Luaibi [Elaibi] recently said that Iraq is seeking a long-term accord to boost oil exports to China as OPEC's second -biggest producer increases output from fields operated by companies like Royal Dutch Shell (RDSA). Crude exports from Iraq to China average 500,000 barrels per day, […]
Global Trader reports that British business activity in Iraq is increasing on a monthly basis with process engineering and technology group DPS Global being the latest firm to reveal details of a major new project. The company has started work on the expansion of the Khurmala Dome Field Development (pictured), the northernmost dome of the […]
By John Lee. Austria's OMV, the operator of the Bina Bawi field in the Kurdistan Region of Iraq, has today issued the following press release: An extended well test ("EWT") commenced production from the Bina Bawi-3 well on March 20, 2013. Furthermore the contractor group has submitted a Declaration of Commerciality for the field to […]
By John Lee. Indonesia has signed a deal with Iraq's State Oil Marketing Organization (SOMO) to buy Basra light crude in the second half of 2013. According to reports from Reuters and Jakarta Globe, Iraq is winning more customers in Asia as it is selling its crude cheaper than comparable grades, undercutting rival Saudi Arabia […]
By John Lee. The Korean Gas Corporation (KOGAS) said on Wednesday that an attack on its operations at the Akkas gas field in Anbar will not delay its plans to start commercial production in September 2015. A spokesman for the state-run company told Platts: "There was no major damage to the facilities at the field, […]
By John Lee. The Kurdistan Regional Government has denied that an incident involving HKN Energy in the Kurdish region of Iraq was related to security issues, and said it was instead tied to a labour dispute. In a statement, the KRG also denied media reports that about 120 oil workers were held hostage: "The Kurdistan […]
