Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
Iraq will reduce its exports of Basrah Light crude from the Persian Gulf by 15 percent in the first half of June compared to the second half of May, according to Bloomberg. A loading program seen by the news agency shows that the country plans to ship 19 cargoes from the al-Basrah Oil Terminal (ABOT), […]
Gulf Keystone and Genel Energy have updated the markets on their operations at Ber Bahr-1, the first exploration well on the Ber Bahr block in the Kurdistan Region of Iraq: The Ber Bahr 1 well has now completed drilling and initial testing. The well was drilled to 3993m in the Chia Zairi formation. The well […]
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 […]
An energy company based in the United Arab Emirates has reportedly signed a contract with Iraq's Free Zones Department to invest in the Khor al-Zubair Free Zone. In a statement received by Aswat al-Iraq, the project will cover an area of 16,000 square meters. It was also announced that an Iraqi company will invest in […]
Kurdistan's minister for natural resources, Ashti Hawrami (pictured), has said that Exxon Mobil is still operating in oil fields in the Kurdistan Region. According to the report from AKnews, his statement came in response to a remark by the Iraqi Oil Minister, Abdul-Kareem al-Luaibi [Elaibi], who told Arabic Sabah newspaper that the US company has suspended […]
Gulf Keystone Petroleum (GKP) this morning announced its results for the year ended 31st December 2011. Shaikan (75% working interest; Operator) 420% (P90) / 181% (P10) increase in gross oil-in-place numbers for the Shaikan discovery with a range of 8.0 billion (P90) to 13.4 billion (P10) barrels, following independent evaluation by Dynamic Global Advisors ("DGA") […]
Gulf Keystone (GKP) announced on Friday that the Sheikh Adi-2 exploration well spudded on the Sheikh Adi block in the Kurdistan Region of Iraq. The Sheikh Adi block is located immediately to the west of the Company's Shaikan block, which is a major discovery. Sheikh Adi-2, the second exploration well on the block, is being […]
Speech by KRG Prime Minister Nechirvan Barzani, at the STEAM Conference, Saad Palace Conference Centre, Erbil, 20th May 2012. Good morning and welcome to Erbil, the capital of the Kurdistan Region. I would like to welcome His Excellency Taner Yildiz, the Minister for Energy and Natural Resources, Mr Madhat Balkan, Chairman of the STEAM organization, […]
WesternZagros Resources announced on Wednesday its operating and financial results for the first quarter ended March 31, 2012, and additional key highlights and activities to date. Headlines $25.9 million of gross oil proceeds in Q1 2012, more than double the proceeds generated in Q4 2011. Proceeds generated from the sales of 450,000 barrels of test […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The prospects of energy and development in Iraq could witness and face serious changing circumstances, thus different policy options have to be in place to face different situations and possible scenarios. The […]
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, […]
