Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. Petroceltic International, the independent oil & gas exploration company with interests in Iraqi Kurdistan, has announced its results for the period ended 30 June 2012. Highlights: Proposed Merger of Petroceltic & Melrose Resources plc ('Melrose') announced 17 August. Declaration of Commerciality announced 9 August for the Ain Tsila Field in Algeria. Final […]
By John Lee. Oil pumping from Iraq to Turkey was suspended temporarily on Monday due to a pipeline fire in Turkey. The fire occurred in Dorkulu village, near the town of Slopi in Turkey's Sirnak province. It is understood that the fire has been extinguished, but the loading of tankers at Ceyhan port has been […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The Iraqi Ministry of Oil confirmed in late July that Russia’s Bashneft had accepted the ministry’s maximum acceptable remuneration fee (MARF) for exploration Block 12, which was offered in the fourth bid […]
By John Lee. The Iraqi government has reiterated commitments to take all legal actions against the French energy giant Total for signing contracts with Kurdistan region. “We will take legal actions to force the company to sell its share (25%) of al-Halfaya oilfield", said Deputy Prime Minister Hussein al-Shahristani (pictured). Total "was requested to withdraw […]
ShaMaran Petroleum has announced its financial and operating results for the three and six months ended June 30, 2012: Highlights The Appraisal Work Program and Budget on the Atrush Block has been approved by the KRG. The Program consists of 3D seismic and a number of appraisal wells and studies. The Atrush-2 appraisal well was […]
UAE exhibitors to take firm role at international event in Basra as opportunities in Iraq continue to increase The UAE’s oil and gas industry is expected to make a major impact at the third annual Basra Oil & Gas International Conference and Exhibition officially supported by Ministry of Oil and organized by Expotim & Pyramids […]
By John Lee. Genel Energy, the London listed exploration and production company and largest independent oil producer in the Kurdistan Region of Iraq, has announced its half year results for the six months to 30 June 2012. Shares in the company closed at 700p on Thursday, up just 0.8%. Highlights Expanded our position as the […]
By John Lee. Shares in DNO International, the Norwegian oil company with interests in Iraqi Kurdistan, were down 4% at lunchtime on Wednesday following the announcement of second quarter results: DNO International ASA, the Norwegian oil and gas company, today released results for the second quarter of 2012 with operating revenues of NOK 155 million, […]
By John Lee. The Chief Executive of Italian oil and gas group Eni says the company does not plan to compromise its business in Iraq by making energy deals with Kurdistan. Paolo Scaroni (pictured) said that one of the conditions for developing the Zubair field was that there could be no deals with local governments […]
By John Lee. Shares in oil exploration company Afren closed up over 3% on Tuesday following the announcement of the company's interim results. The company gave the following update on its operations in Iraqi Kurdistan: Barda Rash Extensive testing commenced at the BR-1 well on 7 July 2012 and has yielded oil rates in excess […]
By John Lee. An MP and member of the Parliamentary Oil and Energy Committee has hit out at Saudi Arabia for its "hostile policy" towards Iraq. Udai Awad, of the Ahrar bloc within the Sadrist Trend, told AIN: "The reason for the dispute with Saudi Arabia is the attempt by KSA [Kingdom of Saudi Arabia] […]
By John Lee. Shares in Heritage Oil closed up 12.3% on Tuesday following the announcement that it will sell part of its Miran Block in Kurdistan and borrow money from Genel Energy to raise $450 million to fund oilfield purchases in Nigeria. The comany will sell a 26 percent stake in the block to Genel and […]
