Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
Iraq continues to grow its oil production at a good pace. Having recently breached the three million barrels of oil in a day mark, it is now averaging over a month 2.6m b/d, the most in three decades, according to Falah Alamri, the head of the State Oil Marketing Organisation. With Iran's oil production having stalled recently, […]
By John Lee. Baghdad and Erbil both have too much at stake not to settle their dispute over oil, although they may take a year or so to do it, Genel Energy Chief Executive Tony Hayward (pictured) told Reuters. "The scale of the opportunity for Kurdistan and for Iraq is so large that there will […]
By John Lee. The Energy Committee of Maysan's Provincial Council has announced the discovery of an oil field in Ezair district, 70 km southwest of the city of Amara (pictured). The Committee's Chairman, Amer Nasrallah, told NINA that an exploratory well had been drilled to a depth of 4,260 meters at the Deemeh field, and […]
By John Lee. The Kurdistan Regional Government (KRG) has extended its deadline for the federal government to pay the money it says it is due in respect of oil exports to 15th September, after which time it will again halt exports of Kurdish crude. Baghdad, on the other hand, has threatened to trim Erbil's budget […]
By John Lee. Iraq's central government is considering trimming federal budget payments to the country's Kurdistan by more than $3 billion to cover losses it says came from the autonomous region's oil exports, reports Reuters. Ali al-Moussawi, advisor to Prime Minister Nuri al-Maliki, said a committee found losses of more than $3 billion resulting from […]
By John Lee. An Iraqi Oil Ministry spokesman has said the Ministry will make future energy exploration contracts more lucrative, to encourage foreign firms to compete in auctions for exploration blocks. "Economic and financial aspects will be reviewed in light of our experiences", said Assem Jihad. "The final details of the contracts will be worked […]
By John Lee. Iraq’s oil exports rose to an average of 2.565 million bpd in August, up from 2.516 million bpd in July, the highest level in two decades (according to NINA), or highest in three decades (according to Reuters). Spokesman for the Ministry of Oil, Asem Jihad, said that Iraq's daily export of oil […]
By John Lee. Iraq’s GDP is expected to grow by 33% over the next three years, according to a report from Reuters. The average rate of about 10% per annum over the next three years will be driven by increased oil revenues, Mudher Kasim, deputy governor of the central bank, told Reuters in an interview. […]
By John Lee. Iraq's Kurdistan is to continue pumping oil for export until 15th September, extending its deadline for the central government to make disputed payments to companies working in the region. The KRG had halted exports for several months from the start of April over $1.5 billion it said was owed to foreign oil […]
By John Lee. Sterling Energy Plc has announced the following updates in the Sangaw North Production Sharing Contract ("PSC") in Kurdistan: 2D Seismic Acquisition: The acquisition of 2D seismic data in the Sangaw North PSC, which commenced in July, has now been completed. 117 km of data was successfully acquired and is now being processed, […]
By John Lee. Expro has secured a contract for production testing for Eni in Iraq utilising its clamp-on SONAR meters. The company will provide completely non-intrusive multiphase production testing to Eni for oil wells in the Zubair field, which Eni Iraq, B.V. operates in cooperation with Iraq’s state-owned South Oil Company (SOC). Expro will utilise […]
The 9th Maghreb Mediterranean MidEast Upstream 2012 Conference in Geneva is part of Global Pacific & Partners worldwide suite of senior management conferences that it has conducted annually for over two decades, and Iraq Business News is delighted to be chosen as a Media Partner. Our MENA-Med Conference showcases the regional exploration, oil/gas-LNG and energy […]
