Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
The KRG's oil minister, Ashti Hawrami, told CWC‘s Iraq Petroleum 2012 conference in London that crude oil production capacity in the Kurdistan region is 300,000 barrels a day, and is expected to hit 400,000 barrels a day by the end of next year. Production capacity is expected to increase further to 1 million barrels a […]
A leading Iraqi energy adviser says the country may need to invest in as many as 120 crude oil tanks, each with a capacity of half a million barrels. Speaking at CWC‘s Iraq Petroleum 2012 conference in London, Dr Mussab al Dujayli, a former Director General of Iraq's State Oil Marketing Organization (SOMO), said that […]
Reuters reports that Petrofac has won a $95 million contract to carry out maintenance work for Iraq's new offshore terminals and sub-sea pipelines at the Gulf. The contract involves maintenance work to ensure there are no leakages in the pipelines or any faults at the two new single point mooring (SPM) terminals that may delay […]
Heritage Oil has announced that it has commenced drilling the Miran West-4 appraisal well in Kurdistan. Highlights: The Miran West-4 appraisal well has commenced drilling on the Miran Block in Kurdistan This is the fifth well to be drilled on the large Miran field and the fourth on the Western structure. The well is designed […]
In May, Turkey and Iraqi Kurdistan announced they would build pipelines taking oil and gas from Iraq into Turkey, then possibly Europe. But according to this article from NIQASH behind the energy dream, lurks a nightmare of militant Kurdish independence fighters and the spectres of energy giants, Iran and Russia. Any opinions expressed are those […]
The following article was published by Reidar Visser, an historian of Iraq educated at the University of Oxford and currently based at the Norwegian Institute of International Affairs. It is reproduced here with the author’s permission. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. […]
Heritage Oil has issued the following update on operations: Highlights The Miran West-4 appraisal well will shortly commence drilling on the Miran Block in Kurdistan. It will be the third appraisal well drilled on the Western structure The well is designed to further appraise the oil potential of the Upper Cretaceous reservoir It is intended […]
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 […]
