By John Lee. Sterling Energy has presented today at the 9th Africa Independents Forum 2012, which forms part of the 19th Africa Oil Week conference, an annual event held in Cape Town. The please click on the following pages to see information on the company's operations in Iraqi Kurdistan:
Archive | Iraq Oil & Gas News
Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
Tags: Sterling Energy
An International Energy Event in The Heart of Baghdad
Advertising Feature The Iraq Energy Forum (IEF) will be held in Baghdad, at the Al Rasheed Hotel on 12 December 2012. This is an initiative founded and hosted by the Iraq Energy Institute (IEI), the official advisor to the Federal Parliament of Iraq on energy policies. Iraq Energy Forum is taking place at a time […]
Kurdistan Payment Delays Cause Dana Gas Bond Default?
By John Lee. Dana Gas may become the first United Arab Emirates (UAE) company to fail to pay an Islamic bond on maturity, according to a report from Reuters which cites "three sources familiar with the matter". Shares in the UAE's largest listed natural gas firm fell more than 4% on the Abu Dhabi Securites […]
Bad Weather Halts Basra Oil Exports Again
By John Lee. Bad weather on Sunday forced Iraq to cut exports from its southern oilfields from 2.35 million barrels to just 792,000 barrels. Port officials have said that things should start to pick up again on Monday, according to the report from Agenzia Giornalistica Italia. The same thing happened last week when adverse weather […]
Tags: Basra News, Iraq Oil Exports News
45 New Oil Wells Drilled in Maysan
By John Lee. The Missan Oil Company has announced the completion of 45 new oil wells in the province as well as the rehabilitation of a number of old wells. The Director General of the Company, Ali M'arij, told AIN that "the Chinese company PetroChina drilled 30 new oil wells and rehabilitated six old ones […]
Tags: Bazergan, Bazerkan, Bazirgan, HaLFAYA, Maysan, Maysan Oil Company, Missan, Missan Oil Company, PetroChina, Weatherford
WorleyParsons Awarded Contract Extension at Rumaila
By John Lee. WorleyParsons has been awarded a $90m contract extension by BP Iraq NV, and its partners PetroChina and Iraq's State Oil Marketing Organization (SOMO), to continue providing engineering, procurement and management services to boost production from the super-giant Rumaila oilfield in Southern Iraq. In November 2009, BP and its partners entered into a […]
Tags: BP, PetroChina, Rumaila, SOMO, South Oil Company, State Oil Marketing Organization, WorleyParsons
Iraq to Increase November Oil Shipments
By John Lee. Bloomberg reports that Iraq will keep the number of shipments of Basrah Light crude from the Persian Gulf unchanged in November compared to October, but will increase the total volume. According to the loading program, Iraq will ship 46 cargoes from the al-Basrah Oil Terminal (ABOT) (pictured). Exports will total 73.9 million […]
Tags: Iraq Oil Exports News
Place Your Bets: Erbil or Baghdad
The dispute between Iraq's central government and the Kurdistan Regional Government over oil contracts in northern Iraq has been dragging on for years, but it recent times we've seen developments that push the sides further apart rather than bringing them together. While the short-term issue of payments for shipments from Iraqi Kurdistan appears to have […]
Saipem Negotiating $1bn Iraq Contract
By John Lee. The Chief Executive Officer of Italy's Saipem has said that the company is negotiating a contract worth around $1 billion in Iraq. According to Reuters, Pietro Franco Tali (pictured) said on a conference call that the negotiations could be finalised by the end of the year. Iraq Business News believes the contract […]
OMV to Hand Back Blocks to KRG
By John Lee. According to Iraq Oil Report, Austria's OMV will hand back two exploration blocks to the Kurdistan Regional Government. In its latest trading statement, OMV said it had written off exploration expenses at the "unsuccessful wells and exploration licenses" relating to the Mala Omar and Shorish blocks. The company has failed to find […]
2013 Budget Spending Up 18%
The Iraqi Council of Ministers has approved a draft budget of 138 trillion dinars ($115 billion) for 2013, an 18 percent increase on this year’s spending programme. The figures are based on expected average oil prices of $90 per barrel, and exports of 2.9 million barrels of oil per day, of which 250 thousand bpd […]
Tags: Iraq Budget News
250MW Power Station Opened in Karbala
Deputy Premier for Energy Affairs Hussein al-Shahristani (pictured) has opened a new 250-MW, gas-fired power station in Karbala. Sharistani said that the government is working on electricity generating stations in Babel, Karbala and Anbar provinces, while another 250-MW station will be opened in Hilla in the coming days. Iraq recently announced that it also plans […]