Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. As part of its operational update yesterday, Petroceltic gave an update on its operations in Iraqi Kurdistan: An active exploration and development programme is scheduled for 2013 with a capital expenditure budget of US$150 million. Exploration drilling and seismic acquisition accounts for approximately 43 percent of the budget with the balance committed […]
By John Lee. Sameer Salman Al Taei has been named as the new head of the state-run North Oil Company (NOC), which oversees oil fields in northern Iraq. Formerly head of the oil fields department in the NOC, Al Taei replaces Hamid Al Saedi, who has been director general since 2010. (Source: The National)
Amarinth, a leading company specialising in the design, application and manufacture of centrifugal pumps and associated equipment to Oil & Gas, petrochemical, chemical and industrial markets, has won its first order in Iraq to supply 12 API 610 OH2 A-Series pumps for the Zubair Initial Production Facility and has appointed Horizon Development International (Basra) as […]
By John Lee. The board of Petrel Resources has reluctantly accepted the resignation with immediate effect of Guy Delbès (pictured), who was instrumental in bringing the company to Iraq. A statement from the company continued: "Following his 84th birthday Guy is seeking to reduce his business interests. "A former French diplomat, Guy Delbès has served […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The Iraqi Extractive Industries Transparency Initiative-IEITI (now called Iraq Revenue Transparency-IRT) issued its second report, entitled “Oil Export and Field Development Revenues in 2010”, on 27 December 2012. The Report was released […]
Russia’s LUKoil has said it has cut its oil production plan in Iraq by almost a third, in line with the local government’s plans to increase the lifetime of its oilfields, reports Al Arabiya. Andrei Kuzyayev, head of LUKoil Overseas, told Russian state TV channel Rossiya-24 that LUKoil is now looking for peak production at […]
DNO International has announced that its long-serving Managing Director, Helge Eide (pictured), is stepping down effective 31 December 2012. "After almost 17 years at DNO International, including the past 13 years as Managing Director, it was time to make way for a new generation of leadership," said Eide. He noted that he originally considered leaving […]
A new report from Deloitte, entitled "Mergers and Acquisitions in the Oil and Gas Industry -- Current upstream M&A issues and transaction considerations", looks at the factors affecting investment in Iraq: "Iraqi production, which has now passed the 3 million barrel per day level, is benefiting from foreign investors with the expertise to exploit these […]
By John Lee. WesternZagros Resources has announced the appointment of Mr. William (Bill) Jack to the position of General Manager Kurdistan, to be resident in Iraqi Kurdistan, effective February 1, 2013. This appointment follows the decision by Mr. Ian McIntosh, Vice President, Kurdistan Business Unit, to retire in January 2013 after three years of valuable […]
Advertising Feature Iraq Energy Institute (IEI) has just concluded its first Iraq Energy Forum (IEF) which was held in Al Rasheed hotel at the heart of Baghdad for the period 11-13 December 2012. The successful three-days major event was organized in cooperation with the Council of Representatives with attendance exceeding 220 delegates representing parliamentarians, diplomats, […]
Advertising Feature The 3rd Basra International Oil & Gas, organized by Expotim International Fair Organizations INC and Pyramids International Group, ended on the 9th of December, after hosting a record number of exhibitors and visitors. The largest oil & gas show in Iraq opened its gate to 18,000 visitors from over 35 countries in 2012, […]
A new oil rush is taking place in Iraq. The country is emerging as a new oasis of opportunity, while the rest of the world struggles to emerge from the global financial crisis. And as Al Jazeera's Jane Arraf reports from Baghdad, it is not just oil that is attracting hungry foreign companies: (Source: Al […]
