Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
LUKoil has reportedly offered Rosneft its African and Iraqi projects in a swap for Arctic shelf cooperation. LUKoil CEO, Vagit Alekperov, said on Thursday: “We have offered them our geological prospecting assets abroad. So far, talks are underway. We have offered them a whole package. If they are interested, we’ll offer them West Africa and […]
Iraq gave a veiled warning to France's Total on Wednesday not to make deals with the KRG without the approval of central government in Baghdad, reports Reuters. Kurdistan said on Tuesday it expects more oil majors to follow Exxon in striking deals in the region; Total has already said that it was interested. Iraqi Deputy […]
This week in London, Iraq Business News was delighted to be Gold Media Partner at CWC's Iraq Petroleum 2012 conference, attended by wide range of senior executives and officials from the energy sector. The following sound-bites will give you a small taste of the mood of the event: "Iraq has greater potential than any other […]
Reuters reports that the White House confirmed on Tuesday that President Barack Obama received a request from Iraqi Prime Minister Nouri al-Maliki to intervene to stop ExxonMobil's deal with the Kurdistan region. "We've received the letter but are going to decline comment until we respond to Prime Minister Maliki," said White House spokesman Tommy Vietor. […]
Greek power plant builder Metka SA, and Turkey’s Gama Holding AS, are reportedly the remaining two companies on the shortlist to build a new power station in Iraq, according to a report from Bloomberg, citing Naftemporiki. The 500 MW plant has an estimated budget of $400 million. In recent weeks both of these companies, along with […]
Iraq's oil production targets may be revisited, as the country refines its plans to ramp up output. Thamir Ghadhban, Chairman of the Advisory Commission to Prime Minister Nouri al-Maliki, told CWC's Iraq Petroleum 2012 conference in London that production will hit 3.4 million barrels per day (bpd) at the end of 2012, 3.9 million bpd […]
State-owned China National Petroleum Corporation (CNPC) says the first phase of Iraq's Halfaya oilfield has started operating at 100,000 bpd, 15 months ahead of schedule. The company says it has already started preliminary work on the second phase of development at the field, which will bring the capacity to 200,000 bpd. Iraq signed a 20-year […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. After many postponements, Iraq’s fourth bid round took place on 30-31 May 2012. Twelve exploration blocks were offered, but only three were awarded. With two-thirds of the offered blocks receiving no bid, […]
Advertising Feature Iraq Business News is delighted to bring you the latest Iraq Market Tracker report from Dunia Frontier Consultants. The market tracker highlights the activities and market performance of a basket of publicly traded firms who derive a significant percentage of their revenues from operations in Iraq, but are traded on foreign exchanges: a […]
Bloomberg reports that Iraq is to offer more attractive terms in its next auction of exploration rights for natural gas. Oil Minister Abdul Kareem al-Luaibi [Elaibi] (pictured), told the agency in an interview: “Bidding will be next year, but we will start now to prepare the data package, and we will hold a roadshow for […]
UPI reports that the Iraqi and Jordanian governments plan to meet in July to discuss the building of a natural gas pipeline between the countries. As its current supplies of natural gas from Egypt are unreliable, the Jordanian government has been considering securing natural gas supplies from other neighbouring countries. Last week, Iraq approved a […]
The governor of Nineveh province, Atheel Nujaifi, has expressed support for the oil deals signed in October between ExxonMobil and Kurdistan Regional Government (KRG), according to a report from AKnews. Atheel, who was reportedly opposed of Exxon's KRG deals, said in a interview with Iraq Oil Report that joint oil development could help ease tensions […]
