By John Lee. Two oil executives in the Kurdistan Region have told Reuters that Chevron is purchasing 80 percent of the Sarta and Rovi blocks from India's Reliance Industries. Austria's OMV holds the other 20 percent interest in Sarta/Rovi. Chevron reportedly declined to comment on Wednesday, saying that it continued to be interested in pursuing […]
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: Austria, Chevron, india, Kurdistan News, oil contacts, OMV, Reliance, Reliance Industries, Rovi, Sarta
Iraq to Begin Gas Imports from Iran by March 2014
By John Lee. Iran's Oil Minister, Rostam Qasemi (pictured), says his country is expected to start exporting natural gas to Iraq by the end of the next Iranian year (to start March 21, 2013), reports the Iranian news agency PressTV. Last year, the oil ministers of Iran, Iraq and Syria agreed to construct a pipeline […]
Shahristani tells Japex, Petronas to Speed up Development at Gharraf
By John Lee. The Iraqi Deputy Prime Minister for Energy Affairs, Hussein al-Shahristani, has reportedly urged the consortium developing the Gharraf oilfield in Maysan province to speed up progress on the project. He also offered to help "eliminate the obstacles facing the work of the company", which is a venture between the Japanese JAPEX and […]
Chevron to Pay $200m for Kurdistan Oil Exploration Rights
By John Lee. America's second-largest energy company, Chevron Corporation, may buy the rights to two oil exploration zones in Iraqi Kurdistan. According to a report from region from the Sunday Times in London, it would acquire the rights from Reliance Industries, India's largest private sector enterprise. The deal, which may be announced this week, is […]
Tags: 'Your Country' - United States, Chevron, india, Kurdistan News, oil contracts, Reliance, Western Zagros, WesternZagros
Premier Oil to join Bashneft in Oil Block 12
By John Lee. Britain's Premier Oil is teaming up with Russia's Bashneft to develop Iraq's oil exploration block 12. In an update to the markets on Thursday, Premier said: "Subject to ongoing discussions with the authorities in Iraq, Premier has agreed to join Bashneft on Block 12, an 8,000 km2 block in the underexplored Salman […]
Iraq Signs Energy Exploration Contracts
By John Lee. Iraq signed the gas exploration contract with Pakistan Petroleum Ltd. (PPL) on Sunday for gas Block 8, which lies in the Diyala and Wassit provinces in the East of the country. Meanwhile on Monday, a consortium led by Kuwait Energy signed the contract for oil Block 9, having bid fee of $6.24 […]
Tags: 'Your Country' - United Kingdom, 4th round oil licences, Block 10, Block 8, Block-9, Dragon Oil, Inpex, Japan, Kuwait Energy, LUKoil, oil contracts, pakistan, Pakistan Petroleum Limited (PPL), Russia, Turkiye Petrolleri
Iraq to Create Dhi-Qar Oil Company?
By John Lee. The Iraqi province of Dhi Qar (Thi Qar) may get it's own oil company, according to a report from AIN. The Deputy Prime Minister with responsibility for Energy Affairs, Hussein al-Shahristani (pictured), discussed the issue with the Deputy Chairman of Dhi-Qar Provincial Council, Hadi Mohan, at his office in Baghdad. Shahristani instructed to […]
Tensions Rise as Kurdistan Trucks Oil to Turkey
By John Lee. Turkey has started importing the crude oil from the Kurdistan Region of Iraq, and will hold negotiations over direct sales to the natural gas. The Turkish Energy Minister said in a press conference on Friday that "Turkey has started importing five to ten trucks of crude oil per day from Kurdistan, and […]
Tags: Exxon, Exxon Mobil, ExxonMobil, Iraq Oil Exports News, KRG, Kurdistan News, oil contracts, Turkey
Shell to Start Pumping Gas in Southern Iraq
By John Lee. Shell plans to start pumping gas from its gas joint venture in southern Iraq in the next three weeks according to Reuters. Initial production will be 60 million cubic feet per day, but Shell's Iraq boss Hans Nijkamp told Deputy Prime Minister Hussain al-Shahristani that output would be increased by a further […]
Baker Hughes Rig Survey Includes Iraq for First Time
By John Lee. Baker Hughes has included Iraq in its international survey of rotary drilling rigs for the first time since 1990. The Baker Hughes Rig Counts are an important business barometer for the drilling industry and its suppliers. When drilling rigs are active they consume products and services produced by the oil service industry. […]
Tags: Baker Hughes, rig count
Iraq Crude Production Overtakes Iran
By John Lee. Iraq’s crude oil production overtook Iran’s last month for the first time since 1988, when the countries ended their eight-year war, reports Bloomberg. Iraq pumped 2.984 million barrels a day in June, versus 2.963 million bpd for Iraq, OPEC said today in its Monthly Oil Market Report. Production from Iran fell ahead […]
Afren Takeover Speculation
By John Lee. Shares in Afren, the U.K.-based oil and gas company with operations in Iraqi Kurdistan, gave up some of their recent gains on Wednesday, but were still nearly 10% up on Monday's intra-day low on speculation of a takeover offer. According to This is Money, rumours were rife that Italy's ENI, and Exxon […]
Tags: Afren, Ain Sifni, Badra Rash, Barda Rash, ENI, Exxon, Exxon Mobil, ExxonMobil, Italy, VSA Capital