Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
AKnews reports that Iraq is ready to supply crude oil to Brazil following the increase in oil production in recent months. Deputy Prime Minister for Energy, Hussein al-Shahristani, met with the a Brazilian delegation to discuss ways to improve political and economic relations between the two countries, especially in the energy sector. The Brazillian side […]
Iraq has warned Turkey against following through with a deal to build new pipelines carrying oil and gas from Iraqi Kurdistan, reports International Business Times. Turkey signed the pipeline deal with the Kurdistan Regional Government on Sunday, bypassing the central government in Baghdad. The BBC quotes Ali al-Moussawi, an adviser to Iraq's president, as saying, […]
Prime Minister Nechirvan Barzani at a major energy conference in Erbil yesterday said that Kurdistan’s relations with Turkey in the energy sector have entered a new phase. He expressed his optimism that after his recent visit to Turkey, more political will and understanding will lead to stronger economic relations. In his speech at the energy […]
Dubai contractor Drake & Scull is reported to be close to winning a $300 million contract in Iraq. Chief executive Khaldoun Tabari said the contract will be the construction of an oil and gas pipeline in Basra, reports Reuters. “We are very close to finalizing the deal,” he said. Drake specializes in mechanical, electrical and […]
Danish company Phoenix International has signed an $86m (100 billion IQD) contract with Basra Investment Commission for the production of oil pipelines. AKnews reports that Phoenix was granted the project licence for a 250-acre area in the town of Umm Qasr, in southern Iraq. The licence is for 35 years, which is subject to renewal. […]
Working-at-height specialist Simian Risk has won a contract to provide on-site training for Shell and the South Oil Company in Iraq. The UK-based consultancy firm, which launched in 2005, will provide bespoke scaffolding and work at height training and supervision at a new oil field site in Southern Iraq. Simian Risk will be working closely […]
Iraq is buying unmanned drones from the United States to help protect its southern oil platforms, U.S. and Iraqi officials said on Monday. An official from the Office of Security Cooperation in Iraq, which is part of the U.S. embassy, declined to give the model or number of drones that are part of the contract, […]
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 […]
Shares in DNO International, the Norwegian oil and gas company with operations in Iraqi Kurdistan, were up 8% in early trading on Monday following the release of record results for the first quarter of 2012. Operating revenues were NOK 712 million up from NOK 281 million in the first quarter of 2011. Net profit climbed […]
Bloomberg reports that Iraq will increase its exports of Basrah Light crude from the Persian Gulf by 20 percent in the second half of May, compared to a month earlier. According to the loading program, Iraq will ship 26 cargoes from the al-Basrah Oil Terminal (ABOT) (pictured), seven more than a month earlier. Exports will […]
Construction Tech, part of the UAE-based Tech Group, has won two significant deals in Iraq totaling over $47 million, according to a report from Trade Arabia. The bigger of the contracts is a $45 million deal to revamp the Central Bank of Iraq, while there is also a $2.15 million agreement with Shell to support […]
ShaMaran Petroleum has announced its financial and operating results for the three months ended March 31, 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. 3D seismic acquisition on the Atrush Block […]
