Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. Bloomberg reports that Iraq will ship 35 cargoes of crude oil from the Persian Gulf in March, six fewer than last month. About 59.7 million barrels of the Basrah Light blend are to be exported from the al-Basra Oil Terminal (ABOT), equating to 1.93 million bpd, compared with average daily shipments in February […]
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. Baghdad and Erbil, the capital of the semi-autonomous Kurdistan region of Iraq, have exchanged accusations over the payment of foreign oil companies for extraction costs, which the Kurdistan Regional Government (KRG) […]
Genel Energy plc has announced its preliminary audited results for the year ended 31 December 2012. Highlights Consolidated our position as the leading independent oil and gas producer in the increasingly attractive Kurdistan Region Current production capacity of circa 80,000 bopd (net), with 2012 average net working interest production of 44,500 bopd in line with […]
By Mark Simmonds, United Kingdom's FCO Minister for International Energy. Iraq is retaking its position at the energy top table. After decades of economic mismanagement and political repression, the country is emerging as one of the most important and dynamic global energy producers. Oil production has increased by over 50% in the last six years, […]
By John Lee. In its final results for the year ended 31st December 2012, oil and gas service provider Petrofac issued the following updates on its operations in Iraq: Badra oilfield development project, Iraq In February 2012, we were awarded a US$330 million lump-sum EPC contract by Gazprom for the first phase of the Badra […]
By John Lee. AUMA, the German-based manufacturer of electric actuators, actuator controls and valve gearboxes for the oil and gas industry, has won a $2-million order to supply more than 400-explosion proof actuators and gearboxes in Iraq. Working together with the Ministry of Oil's State Company for Oil Projects (SCOP), the company will supply actuators […]
By John Lee. Iraq's Oil Ministry has said that insurgents have blown up the fuel pipeline from Baiji [Beiji, Bayji] refinery (pictured) in Salahaddin province to Nineveh province for the third time this month. The attack on the pipeline occurred at 11:00 p.m. local time on Tuesday, and halted fuel supplies from Iraq’s largest refinery, […]
WesternZagros Resources has spudded the latest well of its extensive exploration and appraisal program in the Kurdistan Region of Iraq. Drilling began on the Kurdamir-3 appraisal well on the Kurdamir Block on February 22, 2013. 3D seismic surveys are also underway on both the Kurdamir and Garmian Blocks, and preparations are progressing for the three […]
By John Lee. The Kurdistan Regional Government is reported to have signed new agreements with Gazprom Neft, the oil-producing subsidiary of Russian gas monopoly Gazprom. "We are satisfied with Gazprom Neft's work in the region. New agreements have been reached with this Russian company in recent days," KRG President Masoud Barzani (pictured) was quoted as […]
6th March sees the anniversary event of The Iraq Club Dubai. This network for senior energy professionals operating in Iraq, has gone from strength to strength since it launched in 2012. The bi-monthly event which regularly attracts over 100 senior representatives from companies such as Leightons, Gulftainer and Schlumberger, expects a higher turn out next […]
By John Lee. Talks aimed at resolving the oil payments dispute between the Kurdistan Regional Government (KRG) and the Iraqi Federal Government are believed to have reached deadlock. Hopes of a resolution had been raised last week, but coalition legislator Ammar Tohme told Bloomberg that the political factions failed to agree on the amount of […]
From Iran’s PressTV. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Turkey has reportedly struck a massive oil and gas agreement with Iraq's Kurdistan Regional Government, a move that would strain Ankara's ties with the US and the central government in Baghdad. According to […]
