Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
WesternZagros Resources today announced its operating and financial results for the year end ended December 31, 2012, and additional key highlights and activities to date. With tremendous exploration success and solid operational execution in 2012, WesternZagros moved well ahead on its mission to be recognized as one of the leading junior oil and gas companies […]
By John Lee. Research by the Financial Times shows that the top 10 American and foreign contractors in Iraq have secured business worth at least $72 billion between them, with the total for all contractors coming in at $138 billion. Top of the list is KBR (formerly Kellogg Brown and Root), which was once run […]
LUKOIL has begun supplying computers and other equipment for schools of Madeina and Izzaldin-Salim municipalities under the social program of West Qurna-2 project. The program aims at developing facilities of educational, medical and sports institutions in the districts bordering on the contract area. This work is based on agreements concluded with the administrations of Madeina, […]
Translated from Azzaman Iraq for Al-Monitor by Naria Tanoukhi. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Former Iraqi oil minister Issam al-Jalabi says that although Iraq is an oil-rich country, it still imports petroleum products from abroad to meet its needs 10 years after […]
CNN's Fareed Zakaria speaks with Paul Brinkley, former U.S. Deputy Under Secretary for Business Transformation with the Department of Defense, about his efforts to get major American companies to set up in Iraq: (Source: CNN)
Dana Gas PJSC, the Middle East’s leading private-sector natural gas company, and Crescent Petroleum, the Middle East’s oldest private oil and gas company, in their capacity as joint operators, have announced that the total investment on behalf of the partners in gas operations in the Kurdistan Region of Iraq has exceeded US$1 billion. Total cumulative […]
By John Lee. The Missan Oil Company has finished drilling one of the new wells at the al Halfaya field. Director General of the company, Ali Imurig Soadj, said that the BOHI company, contracted by Petrochina, completed the HF-107-K107 well at the al Mushrif reservoir. Thirty-five wells have been drilled at Halfaya, including 8 old […]
By John Lee. Iraq plans to spend $130 billion on the country’s upstream sector over the next five years, according to a report from Bloomberg. Speaking at a conference in Basra, Oil Minister Abdel-Kareem al-Luaibi [Elaibi] (pictured) said the expenditure will be necessary to help raise production capacity to 9 million barrels a day (bpd). […]
The Iraq Britain Business Council (IBBC) has welcomed a new initiative to boost the Iraqi jobs market. A weekend conference in Basrah - sponsored by the Ministry of Oil and supported by Shell - has been investigating how to revitalise the Iraqi private sector by ensuring contracts with oil majors went to local firms. Oil […]
ShaMaran Petroleum has announced its financial and operating results for the year ended December 31, 2012. Unless otherwise stated all currency amounts indicated as “$” in this news release are expressed in thousands of United States Dollars. Highlights The Company announced on February 4, 2013 an increase of 35% in Best Estimate 2C Contingent Resources […]
The United States Government, through the U.S. Agency for International Development (USAID), signed a Memorandum of Understanding with the Iraqi Ministry of Oil on March 17. This agreement outlines U.S. support for the Ministry to improve the effectiveness and transparency of its operations. Held at the U.S. Embassy in Baghdad, the signing ceremony was attended […]
By John Lee. Indonesia's Coordinating Minister for the Economy, Hatta Rajasa (pictured), has said Pertamina is considering taking a stake of up to 20 percent in the West Qurna-I block, which is owned by Exxon Mobil. According to a report from Fox Business, Mr. Rajasa told reporters: "Exxon has got a new oil field in […]
