Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
The export of oil from the Kurdistan Region of Iraq has been stopped from today because the federal government in Baghdad has not honoured its payment commitments, Kurdistan's Ministry of Natural Resources (MNR) said on Sunday. “After consultation with the producing companies, the Ministry has reluctantly decided to halt exports until further notice. There have […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The upstream petroleum sector in Iraq has been on a significant development drive, in time and magnitude, since mid-2009, and such development efforts would, if realized, bring outstanding results for Iraq and […]
Shares in ShaMaran Petroleum were down 13% in early trading on the Vancouver exchange following the company's announcement of its financial and operating results for the year ended December 31, 2011: Highlights A major oil discovery in the Atrush Block was announced by the Company on April 13, 2011. The Atrush 1 well flowed at […]
Entrepose Projets, a 100% subsidiary of Entrepose Contracting, a contractor specialised in the design and construction of complex projects in the oil and gas sectors in particular and the energy and environmental sectors in general, has announced that it has been awarded, within a partnership, a contract in Iraq for the construction of oil storage […]
According to a report from Bloomberg, Iraq plans to increase its exports of Kirkuk crude from the Turkish port of Ceyhan (pictured) by 20 percent in April: 24 cargoes to be shipped, up from 21 in March; shipping rate of 510,000 barrels a day, up from 425,484 bpd in March. Shipments of Iraqi Kirkuk crude from […]
Reuters reports that Iraq's central government has approved a payment of close to $560 million to oil producers in Kurdistan, following a threat from the Kurdish authorities to halt exports. On Monday, the KRG said it had reduced exports to 50,000 bpd and warned it would stop them altogether if Baghdad was not forthcoming with […]
Crude exports from the Kurdistan region of Iraq dropped to 50,000 bpd and may cease in a month if Baghdad refuses to pay about $1.5 billion owed to producers, Kurdistan Regional Government (KRG) authorities have said. Kurdistan started shipping oil again in February 2011 after an interuption of more than a year following a long-standing […]
Iraq’s state-run South Gas Company says its output will exceed 2 billion cubic feet by 2013, according to a report from Azzaman. The company’s director-general, Hussein Khudhair, said in a statement that “once the projects under construction are completed, the production will be in huge quantities surpassing two billion cubic meters”. He said “gigantic projects” […]
Tenaris has established a service center in Basra as the next step in its commitment to the Iraqi oil and gas market’s development, which began with the supply of tubular goods following its reactivation. From the new service base, Tenaris will provide in-country technical support and service for customers who are using Tenaris technology, staffed […]
Shares in Afren, the oil exploration company with interests in the Kurdistan Region of Iraq, were up nearly 5% in early trading on the London markets following the announcement of full-yer results: The results included the following statement on operations in Kurdistan: Kurdistan Region of Iraq - a world class petroleum play 2011 saw the […]
Shares in WesternZagros closed up more than 10% on Monday following the announcement of a new oil find in Kurdistan, and the publication of results:
The Kurdistan Regional Government (KRG) has issued the follow statement on the reported granting of a contract to BP for the development of oilfields in Kirkuk: Neither Iraq’s federal oil ministry nor state-owned oil companies have the right to unilaterally award contracts to develop currently producing fields in Kirkuk province or in other adjacent areas, […]
