Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The following is an extended version of my brief intervention delivered before IEA’ Energy Business Council virtual meeting held in Paris, 19th Oct 2012 on the Agency’s World Energy Outlook Special Report […]
By Thomas W Donovan, attorney at the Iraq Law Alliance. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Foreign "experts" like to depict Iraq's oil industry as a cesspit of corruption, turmoil and factional politics. In fact, however, Iraq has made real progress, and […]
ExxonMobil is in talks to sell its 60% stake in the massive West Qurna-1 oil field, while gearing up to start a controversial drilling program in Iraqi Kurdistan, the Wall Street Journal reports, citing what it described at "people familiar with the matter". Exxon's 2010 deal with the Iraqi central government to improve production in […]
By John Lee. WesternZagros has announced that during the post-perforation clean up period of the Eocene testing program, an initial low rate flow of 42 to 45 degrees API oil to surface has been achieved at the Kurdamir-2 exploration well. The Company advises that flow rates and the potential for commerciality cannot be confirmed until […]
(Note: the speech was read by Minister Ali Saeed, as the Prime Minister was unable to attend). Ladies, gentlemen and distinguished guests, good morning. I wanted very much to be here with you today, but unfortunately I have had to change my plans due to some unforeseeable circumstances. In any event, I would like to […]
By John Lee. Iraq plans to invest up to $1.6 billion on renewable energy over the next three years, according to a report from Retuers. The new solar and wind power stations will to add 400 megawatts to the national grid, helping to close the gap between the 8,800 MW produced and the 14,000 MW needed. […]
Investment almost $1 billion - highest foreign investment in Iraqi oil and gas sector Total 67 million barrels produced since 2008 – highest by private sector in Iraq Project achieves government fuel cost savings of $5.4 billion Dana Gas and Crescent Petroleum, in their capacity as joint operator of the Khor Mor field, have announced […]
By John Lee. Iraq's South Oil Company has announced the completion of new pipeline network connecting its sites in North West Basra and the floating piers in the Fao [Faw] area, south of the province. Director General Dhia al-Mussawi told Aswat al-Iraq that the new pipelines will pump oil from storage in Tuba to the […]
Russia's LUKoil said on Tuesday that Iraq has not asked it to replace Exxon Mobil at the West Qurna-1 oilfield. Nefte Compass said last week that Iraq was considering replacing Exxon with either Russia's LUKoil and Gazprom Neft, but LUKoil Vice President Leonid Fedun (pictured) told Reuters: "No one has offered us West Qurna-1 ... […]
By John Lee. Todd Kozel (pictured), Gulf Keystone's Executive Chairman and Chief Executive Officer, should not be considered a credible witness, a lawyer for Excalibur Ventures said at the opening day of a trial in London. Excalibur is suing the oil explorer for a 30 percent stake of the assets under a collaboration agreement, which according […]
By John Lee. Engineering technology specialist Frazer-Nash Consultancy has been selected by BP Iraq, via the Rumaila Operating Organisation (ROO), to provide technical assurance during a fitness-for-service (FFS) assessment programme of the giant oilfield's pressure vessels and associated equipment, reports OilVoice. In addition Frazer-Nash has also been asked to assist in the development of a […]
By John Lee. The Missan Oil Company, Iraq’s third-largest state-owned oil company, plans to drill 80 new wells in the southeastern region, its director general, Ali Muarej, told Bloomberg. The plan is to boost crude oil output from its current level of 200,000 bpd to as much as 300,000 bpd next year. Half of Missan's production is […]
