Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
Shares on Gulf Keystone Petroleum gained 7.6% on Thusday following the company's response to speculation: Gulf Keystone notes the continued and unfounded speculation on various bulletin boards and other social media sites regarding an alleged planned placing of the Company's shares at 160p per share. Gulf Keystone does not normally comment on such unfounded speculation. […]
Shares in DNO International ASA, the Norwegian oil and gas company, closed up 6.7% on Thursday following an update on the company's resources. The company released updated estimates setting its remaining proved plus probable (2P/P50) company working interest reserves at 502 million barrels of oil (including condensate and other liquids) and 165 billion cubic feet […]
Fairstar Heavy Transport N.V. (FAIR) has been awarded a contract by Saipem S.p.A. to provide float-over and installation services to Saipem for the 8,000 tonnes CMMP Platform in the Persian Gulf, off-shore Iraq. Saipem has contracted the new 50,000DWT semi-submersible vessel FINESSE for the transportation of the CMMP module from the fabrication facility in Karimun, […]
Reuters reported today (8 May 2012) that it has seen ministry of oil documents indicating that Royal Dutch Shell is ready to cut the production plateau target of the Majnoon oilfield to 1 million bpd from 1.8 million bpd. In my humble view, if this is true, it should be a welcoming development. As many, […]
The output of OPEC in April hit its highest point since 2008 as extra crude from countries such as Libya, Saudi Arabia, and Iraq more than compensated from the loss of Iranian crude supply. Analysts found that the 12 member countries making up OPEC averaged 31.75 million barrels per day (mbpd). In April it was […]
The recent sanctions imposed on Iran by the United States has in turn put pressure on India to diversify to other oil producing nations. Until now Iran was India’s second largest supplier of oil, meeting 12% of the country’s needs. This position has now been taken over by Iraq. The reason for the movement away […]
Royal Dutch Shell is in talks to try to cut the production target at the Majnoon oilfield to 1 million bpd from 1.8 bpd. Shell executives proposed the extension of the oil fields plateau, which begins in 2017, to 20 years from seven years. The Iraqi side is understood to be resisting pressure to increase […]
EIC Consult brings you a fantastic opportunity to gain a thorough understanding of the Iraqi energy marketplace. The Iraq 2012 report delivers expert energy intelligence designed to identify existing investment opportunities and understand future growth requirements. The report provides over 200 pages of critical analysis of the current political and business climate alongside comprehensive coverage […]
The battle for Iraq’s oil goes on. Iraqi Kurdistan is intent on controlling its own oil, Baghdad is intent on wresting that control from them. Will the impasse ever be solved? Only if both sides see reason, one commentator argues in this article from NIQASH. Ever since oil was found in Iraq nearly a century […]
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 […]
The energy sector in Iraq is predicted to see investment of a minimum of US$50 billion over the next five years amidst a gradually improving security situation. This was one of the key findings of ‘Iraq – An Energy Overview 2012’, a comprehensive country report developed by EIC Consult, the market research and consultancy arm […]
The Special Inspector General for Iraq Reconstruction (SIGIR) has released its 33rd Quarterly Report to the U.S. Congress. This 158-page report is a valuable resource for all who are interested in economic development in Iraq. Please click here to download.
