Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
In its latest corporate update, Gulfsands Petroleum included the following statement on its Iraqi operations: Gulfsands signed a Memorandum of Understanding in January 2005 with the Ministry of Oil in Iraq for the Maysan Gas Project in Southern Iraq, following completion of a feasibility study on the project, and is negotiating details of a definitive […]
There has been a welcome outbreak of pragmatism in Iraq in recent days. While the fact that ExxonMobil will apparently be allowed to take part in the auction for the fourth round oil licences was not entirely unexpected, some will see it as a climb down on the part of Baghdad. Others, such as Hess […]
Iraq’s legislation doesn’t prevent oil companies from signing deals with the central government in Baghdad and with the KRG, as ExxonMobil has done, said Adnan al-Janabi, chairman of Iraq’s Oil and Energy Committee. Speaking on the sidelines of an oil conference in London, he added, "there are no blacklists in parliament". “With or without the […]
Iraq plans to ship 17 cargoes of Basrah Light crude oil from the Persian Gulf in the first half of February, according to a loading program obtained by Bloomberg. This would be two cargoes more than in the second half of January. A total of 28.06 million barrels, or 1.87 million barrels a day, will be […]
The World Refining Association (WRA) today announced the return of Middle East Downstream Week (MEDW) 2012. The conference will highlight the significant benefits that can be achieved in the downstream industry through diversification strategies, integrations plans and key business improvements during times of financial unrest where crude is priced at US$100 per barrel. To be […]
Dow Jones reports that the gas capture project with Shell and Mitsubishi in Southern Iraq is expected to start production this year. The head of the South Gas Company, Ali Hussein Khudhier, told the news agency that they expect to produce 50 Mcfd of gas this year. He added that the floating LNG plant and […]
The current political tensions in Iraq are likely to delay the finalisation of a new hydrocarbon law for more than a year, according to Reuters. "With these chronic political differences I can’t see any possibility of having an oil law this year,” said Adel Barwari, a Kurdish adviser to Maliki. “If the [differences] were, say […]
Reuters reports that Iraq has delayed its 4th energy auction until the end of May. "The oil ministry has decided to delay the 4th bidding round until May 30-31 to give more time for the interested companies to study the new amended contract," said Abdul-Mahdy al-Ameedi, director of the oil ministry's petroleum contracts and licensing […]
The Sunday Times, citing unidentified industry sources, reports that French oil and gas producer Total is close to securing exploration rights over several exploration blocks in Iraqi Kurdistan. A deal could be announced within weeks, according to the newspaper. Chevron and ConocoPhillips are also believed to be competing for rights in the semi-autonomous region, following […]
According to a report from Bloomberg, Iraq will complete the initial planning for a 150,000 barrel-a-day refinery in Kirkuk in April. Shaw Energy & Chemicals Ltd. has completed 60 percent of the refinery’s front-end engineering and design (FEED) phase, the director general of North Refinery Company, Abdulghafoor Abduljabbar said at an oil forum in Tokyo […]
The following is a presentation by General Barry R McCaffery (USA, retired), on the threat of an Iranian closure of the Strait of Hormuz. Barry McCaffrey served in the United States Army for 32 years and retired as a four-star General. At retirement, he was the most highly decorated serving General, having been awarded three […]
Despite objections from Baghdad, ExxonMobil already has personnel on the ground in Iraqi Kurdistan, according to Reuters. Whiel the company has kept silent on its exploration agreement with the Kurdistan Regional Government (KRG), one central government regards as illegal, one Western industry source in Erbil told the news agency: "They [Exxon] are definitely here and […]
