Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
Genel Energy has issued the following trading and operational update in advance of the Company's 2012 full year results, which are scheduled for release on 28 February 2013. Information contained within this release is un-audited and may be subject to further review. Tony Hayward (pictured), Chief Executive said: "2012 saw a strong production performance and […]
By John Lee. Reuters has reported that BP will undertake work to arrest declining production at the Kirkuk oilfield, in a move that has outraged the Kurdistan Regional Government. Abdul Mahdy al-Ameedi, head of the oil ministry's Petroleum Contracts and Licensing Directorate (PCLD), told The Wall Street Journal that a request has been sent to […]
The Kurdistan Regional Government has issued a strongly-worded statement challenging the policy of the Federal Government and the Ministry of Oil: The Kurdistan Regional Government is proud of the achievements of its oil and gas industry since the fall of the former regime in 2003. It expects the federal government of Iraq to be proud […]
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, […]
