Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
Iraq’s energy sector holds the key to the country’s future prosperity and can make a major contribution to the stability and security of global energy markets, the International Energy Agency (IEA) says in a special report of the World Energy Outlook released today – the first time that the IEA has conducted a comprehensive review […]
Reuters reports that the Iraqi government has approved the exploration, development and production contract for Block 10 in the south of the country. Russia's LUKoil, which already has an interest in the giant West Qurna-2 oilfield, won the deal for the 5,500-square-kilometer Block 10 in Muthanna and Dhi Qar provinces in Iraq's 4th round energy […]
Iraq’s oil refining capacity will increase by 23 percent to 760,000 barrels a day by early next year, according to Deputy Oil Minister Ahmad al-Shamaa. In an interview with Bloomberg, the Deputy Minister said that the refinery expansions, particularly of the Daura (Doura) facility in Baghdad (pictured), and the Basra plant in the south, will […]
By John Lee. Korea’s state-run Korea Gas Corporation (KOGAS) has won a $127m contract to build a 110-kilometer pipeline linking the Iraqi cities of Kirkuk and Baiji. The company said it will sign the contract with Iraq’s state-run Oil Pipelines Company (OPC) this month. KOGAS was selected as the preferred builder in a process that had eight […]
By John Lee. Genel Energy has said it that it will continue shipping crude oil from Iraqi Kurdistan, following confirmation from the KRG that it has finally received an initial payment from Baghdad. Despite Iraq's finance ministry issuing an initial payment early last week, by Friday the funds had still not landed in the KRG account, […]
By John Lee. Genel Energy has announced that the Chia Surkh 10 exploration well was spudded on 7th October 2012. The Chia Surkh 10 well is the first exploration well to be drilled on the Chia Surkh exploration block whichcovers an area of 984 square kilometres in the southern part of the Kurdistan Region of […]
Why is the World Energy Outlook 2012 focusing on Iraq? (Source: IEA)
By John Lee. The Kurdistan Regional Government (KRG) is planning to build an oil pipeline to Turkey with a capacity of 1 million barrels a day, according to a report from Platts. KRG natural resources minister Ashti Hawrami (pictured) told an energy conference in Turkey on Thursday that plans were already in place for the […]
By John Lee. Gulf Keystone has announced the launch of an offering of senior unsecured convertible bonds due October 2017 in a principal amount of USD$ 200 million, which may be increased in the event the Company exercises in full its increase option of up to USD$ 25 million (the "Increase Option"). Shares in the […]
The Managing Director of Romania's Rompetrol has said that the company is interested in exploring in Iraq. Gavit Kurkimov (pictured) said: "We have just visited Iraq. The main purpose of our visit was to gather information on the possibilities of drilling there ... we do not carry out any activities in Iraq, but have opened […]
By John Lee. Iraq is to increase export oil exports to Jordan from 10,000 barrels per day to 15,000 bpd at a discounted price, Jordanian Energy Minister Alaa Batayneh said. Following repeated requests by the kingdom, the two countries have agreed that Iraq will sell the additional 5,000 barrels a day at a discount of […]
Advertising Feature Iraq is looking forward to welcoming you at the Iraq Energy Forum (IEF) which will be held in Baghdad, at AL Rasheed Hotel on 12/12/2012. This is an initiative founded and hosted by Iraq Energy Institute (IEI), the official advisor to the Federal Parliament of Iraq on energy policies. Iraq Energy Forum is […]
