Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Kurdish military officials and the Iraqi central government are currently trying to defuse an armed confrontation over a disputed northern territory. Kurdish military officials said the forces of Nouri al-Maliki, Iraqi prime minister, […]
By John Lee. Iraq and the Russian state oil producer Gazprom Neft have awarded an $879 million contract to South Korea's Samsung Group to develop the Badra oil field in eastern Iraq. Samsung will design and build phase two of a central processing facility (CPF) for oil production in the field, which is expected to […]
By John Lee. Iraq's Petroleum Contracts & Licensing Directorate (PCLD), part of the Ministry of Oil, has announced that following requests received from interested companies the deadline for submitting qualification information for the Nasiriya Integrated Project has been postponed to 28th February 2013. Documents sent by DHL are accepted provided that they have been sent […]
By John Lee. WesternZagros Resources has awarded a contract for two 2,000 horse-power drilling rigs with a leading North American drilling contractor. The two rigs have been contracted to drill the Hasira-1 well, the Baram-1 well and subsequent wells on the Company's Garmian Block in the Kurdistan Region of Iraq. The drilling services contract was […]
Iraq's State Oil Marketing Organization (SOMO) has issued a statement suggesting it will take legal action against companies exporting crude oil without dealing with the central government, including the confiscation of cargoes and the filing of lawsuits against sellers, buyers and transporters. The statement reads as follows: "In accordance with the provisions of Laws No. […]
By John Lee. Oil exports from Iraq's southern Basra terminals were restored to 2.35 million barrels on Saturday bad weather on Friday, according to a report from The National. Output was said to have fallen to just 1.32 million barrels on Friday. Exports from Basra's offshore terminals, Iraq's main oil hub, tend to fluctuate because […]
This week marks the 150th edition of our Iraq Business News newsletter, and we are delighted to mark the occasion by bringing you a major new guide to business in Iraq. Published by Allurentis, in association with Iraq's National Investment Commission (NIC) and UK Trade & Investment (UKTI), the fourth edition in the annual New […]
By John Lee. A spokesman for Iran's Oil Ministry has confirmed that Iran is planning to build a pipeline to carry natural gas to Iraq and Syria. Alireza Nikzad Rahbar told Iran's PressTV on Wednesday: "Based on agreements already reached, a 56-inch pipeline is to be laid out from Assaluyeh [near South Pars Gas Field in […]
By John Lee. Iraq has approved the deal under which Kuwait Energy would replace Turkey's state-owned Turkiye Petrolleri AO (TPAO) on the Block-9 exploration contract. Abdul-Mahdy al-Ameedi, director of the ministry's contracts directorate, told Reuters: "Kuwait Energy has acquired the stake of the Turkish company TPAO, and now it's holding 70 percent of the contract, […]
By John Lee. Iraq's crude oil exports fell by 11 percent in December due to bad weather in southern oil export terminals and the suspension of exports from Kurdistan, according to a report from Dow Jones. Exports averaged 2.348 million bpd, down from 2.620 million bpd in November. From the south, Iraq exported 2.023 million bpd, […]
By John Lee. Genel Energy has started shipping crude oil directly into Turkey from its Taq Taq oil field (pictured) in Iraqi Kurdistan, two weeks after exports from the region were halted, reports Bloomberg. According to the report, the KRG won’t resume exports through the central government pipeline network until the federal authorities pay the […]
By John Lee. The former head of the South Oil Company (SOC), Fayadh Hassan Nima [Niama], has been named to replace Ahmad Shamaa [Ahmed al-Shamma] (pictured) as Deputy Oil Minister. Shamma, whose responsibilities included downstream activities and overseeing the Basra Gas Company -- the joint venture between Shell, Mitsubishi and the South Gas Company -- […]
