Iraqi Deputy Prime Minister for Energy Hussain Shahristani speaks to Reuters about crude production in the country and the global oil market outlook. (Source: Reuters)
Video: Shahristani on Oil Market, Production Outlook
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: Exxon, Exxon Mobil, ExxonMobil, Iraq Oil Exports News, Iraq Oil Production News, Shahristani, video
Maysan Province Seeks to Control Local Oil Fields
By John Lee. A member of the Energy Committee in Maysan Provincial Council has called on the Ministry of Oil to grant the province the right to take part in running the oil sector in the province, according to a report from AIN. Ammar Nasrallah told the news agency: "We call to apply the constitutional […]
Tags: China National Petroleum Corporation, CNPC, HaLFAYA, Maysan, Maysan Oil Company, Missan, Missan Oil Company, PetroChina, Petronas, Total
Vast Exploration Hands Back Qara Dagh Block
By John Lee. Vast Exploration has announced that along with its consortium partners, Niko Resources and Groundstar Resources, it has entered into a relinquishment and termination agreement with the Kurdistan Regional Government to surrender their collective interests in the Qara Dagh Block (pictured). Vast acquired a working interest in the block under a production sharing […]
Tags: Groundstar Resources, Jay Garner, KRG, Kurdistan News, Niko, oil contracts, Qara Dagh, Vast Exploration
Iraq Calls on Arabs to "Use Oil as Weapon"
By John Lee. Reuters reports that Iraq's representative to the Arab League said that Arab states should use oil as a weapon to put pressure on the United States and Israel over the attacks on Gaza. Qais al-Azzawy told reporters in Cairo on Friday: "Iraq will invite (Arab) ministers to use the weapon of oil, […]
Tags: Arab League, Israel
DNO Reports Record Output, Shares Fall
By John Lee. DNO International ASA, the Norwegian oil and gas company, today announced that gross production across its oil and gas portfolio has exceeded 100,000 barrels of oil equivalent (boe) per day for the first time, split two-thirds from the Kurdistan region of Iraq and the balance from Oman and Yemen. On a Company […]
Tags: DNO, Iraq Oil Production News
Heritage Updates on Kurdistan Operations
Shares in Heritage Oil closed down 1.9 percent on Thursday, following the company's interim management statement. The companay gave the following update on its operations in Iraqi Kurdistan: Following the Initial Sale, HEME currently holds a 49% interest in the Miran Block and continues to act as operator. Miran West Initial work-over operations to prepare […]
International Speakers to Discuss Iraqi Energy Market
Advertising Feature Internationally acclaimed experts from across the oil and gas sector will be addressing the challenges and opportunities in the Iraqi market, at the upcoming Basra Oil & Gas International Exhibition & Conference. Speakers from Weatherford, Gulf Energy, South Oil Company (SOC) and Penspen will put forward their views on technology, health & safety, […]
Iraq to Invest up to $150bn to Increase Oil Output
By John Lee. Oil Minister Abdul Kareem Luaiby [Luaibi, Elaibi] (pictured) has told the Abu Dhabi International Petroleum Exhibition and Conference that Iraq could spend up to $150 billion on projects to expand its crude production capacity. The Wall Street Journal quotes the Minister as saying: "Iraq can reach 9 million barrels per day in […]
Tags: Iraq Oil Production News
Abu Dhabi's TAQA to Buy Atrush Block?
By John Lee. The Abu Dhabi National Energy Company (TAQA) is said to be in advanced talks to buy a stake in the Atrush Block in Iraqi Kurdistan. The Atrush Block is operated by the joint-venture company General Exploration Partners (GEP) which holds an 80 percent working interest in the Block. Aspect Holdings, LLC through […]
Tags: Abu Dhabi National Energy Company (TAQA), Aspect Holdings, Atrush, General Exploration Partners, Kurdistan News, Marathon, ShaMaran
Wood Group Wins Iraq Contract
By John Lee. Wood Group PSN (WGPSN) has been awarded a contract by DNO Middle East to provide engineering and project support services to the Tawke field, in the Kurdistan region of Iraq. The contract marks WGPSN’s expansion into Iraq. The energy services company will deliver engineering studies, detailed design, technical and operations support to […]
Crescent Petroleum Gears Up for Expansion in Iraq
By John Lee. Majid Jafar (pictured), the chief executive of UAE-based Crescent Petroleum, has said the company is gearing up for expansion in the Iraqi oil and gas sector. Speaking to Reuters on the sidelines of the World Economic Forum (WEF) in Dubai, he said: "We are looking at entering Libya with the right opportunity. […]
Afren Falls on Interim Management Statement
By John Lee. Shares in Afren closed down 1.8 percent on Tuesday following the company's interim management statement. Afren gave the following update on its operations in Iraqi Kurdistan: Barda Rash Having commenced an extensive testing programme at the BR-1 well in July 2012 and establishing oil rates in excess of 6,000 bopd of 28° […]