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.

Iraq Oil Bases Sprout as Halliburton Chases Growth

Schlumberger Ltd., Halliburton Co. and Baker Hughes Inc. are among companies this past week that said they’re expanding operations in Iraq. Weatherford International Ltd., the fourth- largest oilfield-services provider by market value, will expand staff in Iraq to more than 1,000 by July, Chief Executive Officer Bernard Duroc-Danner told investors yesterday

Shell Beats Estimates

Royal Dutch Shell Plc, Europe’s biggest oil company, posted a 57 percent increase in earnings after production climbed for the first time in more than three years following startups in Brazil and Russia. Net income in the first quarter rose to $5.48 billion from $3.49 billion a year earlier, The Hague-based Shell said in a […]

25% of Nasiriya Development Completed

Iraq says it has completed 25% of the plan to develop its Nasiriyah oil field. Nasariya’s development is carried out by the state-owned South Oil company. The field, which currently produces 10,000 barrels a day, is expected to increase output to 50,000 in 2011, according to the company’s Director-General Dhia Jaafar. The company has drilled […]

BP to Be Paid in Crude for Iraq Investment Costs

28 April 2010 - Bloomberg BP Plc will be paid in crude for its investment costs in an Iraqi contract that offers about the same rate of return as other projects worldwide, Chief Executive Officer Tony Hayward said. BP and China National Petroleum Corp. are spending about $15 billion in Rumaila, Iraq’s largest oil deposit, pledging […]

Basra Tender on the Table

Companies have until 5 May to prequalify to compete for the rehabilitation and expansion of the existing export facilities and pipelines in the southern oil hub city of Basra, Reuters said.