Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
U.S.-based energy firm Emerson has submitted a bid for an automated systems contract at Iraq's ENI-operated Zubair oil field, according to a report from Market Watch. The company, a specialist in oil and gas, refining and power automation, gave no details about the value of the contract to set up process and control automation equipment […]
Aswat al-Iraq reports that a number of American, Malaysian, French and Japanese companies are interested in working in southern Iraq's Missan Oil Company. "The Internatoinal Oil Gas Exhibition, held in Basra Province, saw visits by dozens of foreign companies to the Missan Oil Company pavilion," Ali Abbas al-Turfy told the news agency, adding that "more […]
At the 'Iraq: Untapped Opportunities' conference in London last week, the Deputy Prime Minister with responsibility for energy, Dr Hussain al-Shahristani (pictured), said Iraq needed $200 billion (240 trillion Iraqi dinars) of investment in the energy sector over the next six years. This investment would be broken down as follows: $100bn to develop upstream oil […]
The President of Iraqi Kurdistan said on Wednesday that the region will go ahead with its exploration deal with U.S. oil major Exxon Mobil despite objections from Baghdad. According to Reuters, Masoud Barzani (pictured) said Iraqi Prime Minister Nuri al-Maliki was told of the deal prior to its signing and had no objection, and called […]
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 […]
Russia's Gazprom Neft expects to start commercial production at Iraq's Badra (Badrah) gas field in August 2013, according to Reuters. Initial production is expected to be 15,000 barrels per day. The company said it commenced drilling the first appraisal well on Thursday. "The results of the initial appraisal wells will allow us to better understand the […]
Honeywell has said it currently has $360m worth of contracts in Iraq, Dow Jones has reported. The US-based engineering firm has a contract with China National Petroleum Corporation (CNPC) to develop process control systems and fire and gas detection systems at the Ahdab oil field, Tarek Nahl, the company's Middle East sales manager, told the […]
At the 'Iraq: Untapped Opportunities' conference in London last week, the Deputy Prime Minister with responsibility for energy, Dr Hussain al-Shahristani (pictured), clarified Iraq's target of producing 12 million barrels per day of crude oil. The 12 million bpd was, he said, a capacity figure, and would not necessarily mean that this quantity of oil […]
By Tavish Scott, Member of the Scottish Parliament. This article was originally published by The Scotsman, and is re-published here with the author’s permission. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. A familiar face walked across the hotel lobby. Former BP boss Tony […]
Waterford Finance & Investment Limited disclosed after the close of Monday's business on the London Stock Exchange it has increased its holding in Gulfsands Petroleum to 12.7%. This follows an increase to 6.39% on Wednesday, and to 9.27% on Friday. Waterford is an investment vehicle controlled by Russian investor Michael Kroupeev. Shares in Gulfsands Petroleum […]
Shell, Mitsubishi and the Iraqi government have finally signed the $17.2 billion deal on Sunday to capture flared gas at Iraq's southern oilfields. The 25-year project is intended to boost production of badly needed electricity and reduce the environmental damage caused by flaring, as well as opening up the possibility of gas exports. It will harness […]
Iraq's oil minister said on Sunday that Iraq will send ExxonMobil a further letter demanding an explanation of its contract with the Kurdistan Regional Government (KRG) after receiving no response so far from the U.S. oil group, according to a report from Reuters. "So far we have sent Exxon three letters and tomorrow we will […]
