Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
Azzaman news agency reports that the Iraqi Central Bank’s budget forecast for 2012 is based on and oil price of $80 per barrel. Muatasem Akram, a consultant with the bank, said the forecast was reasonable, though much below the 2012 forecasts for oil prices on international markets. He acknowledged the bank’s budgetary estimates for oil […]
AVEVA (LSE:AVV) has announced that it will participate in the inaugural International Erbil Oil & Gas Exhibition, 15-18 December 2011 in Iraq, where it will showcase its object-centric systems for Integrated Engineering & Design solutions. AVEVA will demonstrate the full range of its AVEVA Plant Portfolio. AVEVA Plant is an integrated suite of software for […]
DNO International this morning reported a net profit of NOK 299 million [$52.6 million] for the third quarter of 2011 versus a loss of NOK 146 million in the same quarter 2010. The strong result is affected by a net positive finance of NOK 301 million in this quarter. In the third quarter the Company […]
Leighton Offshore launched the newest edition to its fleet on Saturday, the Leighton MPV-1 cable lay vessel, at the Al Jazeera Port in Ras Al Khaimah. The MPV -1 will be used to scope the cable-laying of the first phase of $799 million Iraq Crude Oil Export Expansion Project (ICOEEP). The MPV-1 will also work […]
Shares in Gulf Keystone Petroleum (AIM: GKP) jumped 6.4% on Tuesday following a major upgrade of the gross oil-in-place volumes for the Shaikan discovery in the Kurdistan Region of Iraq. The revised gross oil-in-place volumes for the Shaikan discovery, as calculated by Dynamic Global Advisors (DGA), independent Houston-based exploration consultants, are a P90 value of […]
In its latest quarterly report, Kuwait Energy has issued an update on its Iraqi operations: The Iraqi Ministry of Oil announced its intention to offer 12 exploration blocks covering various locations in Iraq. Technical data for each block was made available for purchase in September 2011 along with a preliminary Exploration, Development and Production Service […]
Sharing the Oil Money: How Federalism Could Save Iraq from another Saddam Hussein Iraq’s oil revenues are currently distributed in a way that sets the financial foundation for a new dictatorship, according to this report from Niqash, in which an economist explains how federalism, a better tax system and the national oil and gas law […]
2nd BASRA OIL & GAS 25- 28 November 2011 Basra International Fair Ground, Al Maqal Port / Basra, IRAQ 19 SPONSORS, 470 PARTICIPANT COMPANIES… THE FOREMOST OIL & GAS EVENT IN IRAQ! 2nd Basra Oil & Gas has exceeded all expectations and has proven it is going to be a much bigger success compared […]
Aberdeen companies looking to the Iraq energy sector for business opportunities are invited to sign up for a free seminar hosted by the City Council. The Opportunity Iraq Seminar on Thursday, 17 November will be hosted by the council's International Trade and Investment team and will be led by Iraq market experts, Upper Quartile. Speakers […]
In the ongoing conflict between the Kurdistan Regional Government (KRG) and the federal government in Baghdad over the proposed new oil and gas law, both sides agreed to adopt the draft law that had been presented in February, reports AKnews, citing Ghadhban Fadel, head of the advisers committee in the federal government. The announcement is […]
The North Oil Company (NOC) is hindering the construction of a refinery in the oil-rich disputed province of Kirkuk, a local official said on Wednesday. The refinery is one of four projects that the Iraqi Oil Ministry tendered to foreign companies for final designs late October. The four refineries to be located in Kirkuk, Karbala, […]
Afren plc has completed the acquisition of a 60 percent participating interest in the Barda Rash PSC and 20 percent participating interest in the Ain Sifni PSC, located in the Kurdistan region of Iraq, and executed a corporate credit facility for up to US$200 million in connection with the Acquisition. Further to the announcement of […]
