Gulfsands Petroleum (LSE: GPX) announced after the close of trading on Monday that Waterford Finance & Investment Limited had increased its stake in the company to 15%. The shares closed up 2.1% at 167.37p
Waterford Increases Stake in Gulfsands
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.
GKP Jumps on Takeover Rumours
Shares in Gulf Keystone Petroleum (JKP) jumped on Monday following yesterday's report that U.S. oil major ExxonMobil was considering a takeover bid at five times the company's closing share price on Friday. The shares were up as much as 34% in early trading on Monday, but had given up half those gains by mid-afternoon. Reuters […]
Harris CapRock Contract with Nabors in Iraq
Harris CapRock Communications, a global provider of fully managed communications for remote and harsh environments, has signed a two-year contract to provide Nabors Industries with satellite communications for multiple land rigs and a base office in Iraq. Harris CapRock’s Very Small Aperture Terminal (VSAT) services will provide Nabors personnel working on remote Iraq land drilling […]
Tags: Harris CapRock, Nabors
Exxon to Pounce on Gulf Keystone?
ExxonMobil is reportedly considering an $11 billion takeover of Kurdistan-focused explorer Gulf Keystone Petroleum. Reuters, citing the Independent on Sunday newspaper, said that Exxon is considering making an estimated 800 pence per share bid for the British company, which has made huge oil finds Iraqi Kurdistan. Neither company could be reached for comment by Reuters […]
ShaMaran Finishes Testing at Pulkhana-9
ShaMaran Petroleum has issued an operational update on the Pulkhana-9ST2 geological sidetrack: The Pulkhana-9 original hole reached a Total Depth ("TD") of 2333 meters in the Cretaceous Balambo formation. A comprehensive testing program of six well tests (“DST”) recovered oil from four separate reservoir intervals, including two new reservoirs that predrilling had not been recognised […]
EIC O&G Trade Mission to Basra - Deadline Approaching
The EIC is organising an oil and gas trade mission to Basra in Iraq. Missioners will have the opportunity to attend organised group meetings with key local players, as well as incorporating a briefing meeting presented by qualified speakers with in-market experience and the opportunity to meet with local companies. Why Iraq? As Iraq works […]
Shaw Wins Feasibility Study on Basra Refinery
The Shaw Group Inc. (NYSE: SHAW) has announced that it has been awarded a contract by the South Refineries Company, which is part of the Republic of Iraq’s Ministry of Oil, to provide a feasibility study for the rehabilitation of its 140,000 barrels per day refinery in Basra, Iraq. The study will assess the current […]
Tags: 'Your Country' - United States, Refineries, Shaw Group, South Refinery Company, United States Trade and Development Agency (USTDA)
Vinsons, Cleary Advising Iraq on $17bn Gas Deal
Vinson & Elkins and Cleary Gottlieb Steen & Hamilton are advising Iraq’s oil ministry in a $17.2 billion deal with Royal Dutch Shell and Mitsubishi to develop the infrastructure required to process natural gas in the southern part of Iraq. The transaction agreements, which were signed on 27th November, came as Iraq attempts to rebuild its […]
Tags: Basra Gas Company, Cleary Gottlieb Steen & Hamilton, gas gathering, Mitsubishi, Shell, Vinson & Elkins
ProSep Awarded $6.5m Contracts in Iraq
ProSep Inc. (TSX: PRP) has announced that it was awarded three contracts with a new customer operating in Iraq, for the design and supply of a produced water package and water deaeration and fuel gas treatment systems. Together, these contracts represent a value of $6.5 million. The equipment provided will be installed at the same […]
Maliki Calls on US Firms to Help Rebuild Iraq
Prime Minister Nouri al-Maliki has called on U.S. companies to help rebuild Iraq, according to Reuters. In a speech at the U.S. Chamber of Commerce, Maliki said: "As much as we committed to defeat terrorism, we are now committed to grow the private sector ... It is now not the generals, but corporations and business […]
Rumaila Output Down following Attack, Exports not Affected
Oil production at Iraq's Rumaila oilfield has been cut from about 1.4 million barrels per day to by around 700,000 bpd after yesterday's a bomb attack on southern crude pipelines, according to Reuters. The fire that resulted raged all night but was put out on Wednesday morning. Salah Mohammad, general manager of the Rumaila Operating […]
Bombs Hit Iraqi Oil Pipeline
According to various sources, either two or three bombs hit a crude oil pipeline in Iraq's southern oilfields leading to storage tanks around Basra. The impact on oil production or exports was not immediately clear, but the deputy head of the Basra provincial council, Ahmed al-Sulaiti, said firefighters were still battling the fire late on […]
Tags: Attacks