Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Mr Jiyad is an independent development consultant, scholar and Associate with Centre for Global Energy Studies (CGES), London. He was formerly a senior economist with the Iraq National Oil Company and Iraq’s […]
Iraq increased its oil exports 1.9 percent in December to an average of 2.175 million barrels a day, according to a report from Bloomberg. The country may export at an average 2.6 million barrels a day next year, Falah Al-Amri, director of the State Oil Marketing Organization (SOMO), said in an interview. Iraq exported 2.135 […]
Gulf Keystone has issed the following statement regarding recent takeover speculation: Gulf Keystone notes the continued unfounded press speculation regarding a potential offer for the Company. The Board of Gulf Keystone ("the Board") does not normally comment on speculation, but confirms that it remains committed to creating value for shareholders, via the continuing 2011/2012 exploration […]
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
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 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 […]
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 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 […]
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 […]
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 […]
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 […]
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 […]
