Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
The Middle East Economic Survey (MEES) reports that Norwegian producer Statoil ASA is trying to sell its stake in the West Qurna-2 oilfield. According to the report, the company may use the negotiations to improve the terms of the West Qurna-2 contract and decide against pulling out. If a sale happened, it would be the […]
The first of four new single-point mooring facilities will be ready to commence operations on Jan. 25, according to a report from Bloomberg. If correct, this would be a pull-forward of the schedule reported by Reuters on 4th Jan. Dhia Jaafar, director general of South Oil Company, said the project involves laying pipelines, building eight […]
Russia’s Interfax news agency reports that OAO Bashneft is in talks to form a consortium to develop Iraqi oil fields. The company, controlled by billionaire Vladimir Evtushenkov’s AFK Sistema, reportedly wants to be a junior partner in a consortium that will bid in the next round of tenders for Iraqi oil fields. (Source: Bloomberg)
Reuters reports that a Japanese consortium is planning to build and operate a $2 billion fertilizer plant in Basra. Citing an article from Japanese business daily The Nikkei, they say the Japan International Cooperation Agency (JICA) will provide up to 150 million yen ($2 million) to Mitsui, Toyo Engineering Corp and Tokyo-based consulting firm Unico […]
ShaMaran Petroleum shares fell by 33% on Thursday following this update on its Pulkhana and Arbat blocks in Kurdistan: ShaMaran Petroleum is in the process of examining options to re-focus its asset base in Kurdistan and as a consequence has agreed with the Kurdistan Regional Government to suspend operations on both the Pulkhana and Arbat […]
AKnews reports that uniformed militants have blown up about 10 machine tools used by Sonangol, Angola’s national oil company, in the province of Nineveh on Thursday. Sonangol won contracts to develop the al-Najma and al-Qayara oil fields near the provincial capital Mosul in 2009. The equipment was blown up by IEDs that were placed inside […]
The oil and gas industry in Iraq has seen a lot of activity in recent days - just look at the following news items: Oil Law “Will be Passed Without Iraqiya if Needed” GKP Soars on Renewed Bid Rumours Genel Energy to Upgrade Tawke Oilfield WesternZagros Provides Operational Update DNO Completes Merger with RAK Gulf […]
AKnews reports that the debate on draft hydrocarbon legislation has been postponed by the Oil and Gas Committee of the Iraqi Council of Representatives because of the continued absence of Iraqiya List members. The law needs the approval of all parties to be passed. On 3rd January the committee revealed that an initial agreement between […]
Businesses considering entering the Iraqi market are being offered a second free seminar, to explore further the considerations for operating in Iraq. The second of a series of “Opportunity Iraq” seminars is being delivered by Upper Quartile as part of Aberdeen City Council’s international trade and investment team’s support services. This will deal with the […]
Iraq has disclosed detailed information about the US$ 41 billion in revenue it received from oil and gas exports in 2009. Iraq’s disclosure of the figures follows the country’s commitment to the EITI standard, the global standard for transparency of resource revenues. The revenues are published in Iraq’s first EITI Report, which detailed production figures […]
International learning and skills specialist Atlas has expanded the global footprint of facilities capable of delivering the groundbreaking new global training initiative IMIST for the oil and gas industry with the approval of the first centre in Iraq. The accreditation of the Al Delma facility in Basra City demonstrates Iraq’s commitment to developing its energy […]
The EIC has confirmed that the Iraq trade mission is definitely going ahead on 11-15 Feb 2012. Please see the attached information pack for more details in regards to itinerary, security, insurance, Hostile Environment Training, etc. Due to the location, please ensure that you read the attached information carefully before submitting your application. Deadline for […]
