Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
The State Compamy for Oil Projects (SCOP), part of the Ministry of Oil, has reportedly completed construction of 18 storage tanks at the Najaf refinery, with a total capacity of 51 million liters. The Media director of Najaf refinery, Ahmed Razg, told AIN: "The cost of the project was IQD 21 billion [$18 million], bringing […]
By John Lee. KBR has announced that it has been awarded the Mansuriya Full Field Development contract to perform front end engineering and design (FEED) studies and Quality Control Support Services (QCSS) for the Turkish Petroleum Overseas Company (TPOC), a wholly owned subsidiary of Turkish Petroleum Corporation (TPAO), in Diyala Province. The Mansuriya project is […]
By John Lee. Oil ministry spokesman Assem Jihad said on Tuesday that the country's oil exports averaged 2.62 million bpd in November, the same rate as in October. 78.6 million barrels were exported for the full 30-day month at an average price of $104.35 per barrel, giving total revenues of about $8.2 billion. This was […]
Speech by KRG Prime Minister Nechirvan Barzani to the CWC Kurdistan-Iraq Oil and Gas Conference Excellencies, distinguished guests, ladies and gentleman, welcome to Erbil. Welcome to the Kurdistan Region of Iraq. I am happy to participate with you all today, to listen, to learn about, to discuss and debate the vital issues surrounding the oil […]
By John Lee. Iraqi Prime Minister Nouri Al-Maliki and Eni’s CEO Paolo Scaroni (pictured) met today in Baghdad to discuss Eni’s activities in the Country. During the meeting, which the company described as "cordial", Eni’s CEO updated the Prime Minister on the development activities of Zubair’s super giant field and confirmed Eni’s commitment and presence […]
By John Lee. Reuters reports that oil exports from Iraqi Kurdistan have halved to around 100,000 bpd in recent days. An Iraqi oil official said on Monday that the Kurdistan Regional Government had told Baghdad's State Oil Marketing Organization (SOMO) that exports were reduced because operators were "facing some technical problems that will take some […]
By John Lee. Sri Lanka is to purchase oil from Iraq after the US imposed new sanctions on Iran. According to a report from AFP, the US Senate unanimously approved new economic sanctions on Friday aimed at further crippling Iran's energy, shipping and port sectors, a year after Congress passed tough restrictions against Tehran. Sri […]
By John Lee. General Exploration Partners (GEP) has signed a purchase and sale agreement to sell 53.2% of its participating interest in the Atrush Block to Abu Dhabi National Energy Company PJSC (“TAQA”). In conjunction with the sale, Aspect Energy International, LLC will divest itself of any interest in GEP, leaving ShaMaran Ventures B.V. (a […]
By John Lee. DNO International was advised by the Kurdistan Regional Government that a payment of USD 160 million was transferred last night for distribution to the foreign members of the Tawke joint venture in partial payment for past oil exports of oil from the Tawke field in the Kurdistan Region of Iraq. DNO's share […]
The Abu Dhabi National Energy Company, TAQA, today disposed of its entire holding in WesternZagros Resources, which holds two oil and gas production sharing contracts in the Kurdistan Region of Iraq. TAQA purchased 74 million common shares in WesternZagros at CDN$0.63 per share for a total amount of CDN$46.6 million in October 2011. TAQA completed […]
By John Lee. Reuters reports that LUKoil, Russian’s biggest non-state oil producer, which is believed to be considering buying ExxonMobil's stake in the West Qurna-1 oil field, has bought oil from Kurdistan in defiance of Baghdad. Baghdad has long insisted it has the sole right to export oil, but LUKoil's Geneva-based trading arm Litasco has […]
WorleyParsons has been awarded a three year contract by LukOil Mid-East Limited to provide project management services for West Qurna-2 oil field development project in Iraq. WorleyParsons will provide project management, technical and construction supervision personnel to support the West Qurna-2 engineering, procurement and construction (EPC) activities. WorleyParsons will also develop a Project Management System […]
