Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
Sterling Energy has issued its Interim Management Statement for the period beginning 1 July 2011. Angus MacAskill, Sterling's Chief Executive, said: "We are pleased with the progress made towards introducing a partner to the Ntem block in Cameroon and expect to complete the process by the end of 2011. "Following the disappointing results of the […]
ExxonMobil, BP and Eni plan to spend around $100 billion to upgrade their three oilfields in southern Iraq, Thamer Ghadhban, top energy adviser to the Iraqi Prime Minister said on Wednesday. According to the report from the Wall Street Jounal, some $50 billion would be spent to upgrade Exxon's supergiant West Qurna Phase 1 oilfield, […]
Dow Jones reports that Iraq has agreed with oil majors to build a multi-billion-dollar oil field water injection plant in the south of the country, after disagreement over costs that suspended the project for months. The water injection project aims to provide water to maintain reservoir pressure to fields such as Rumaila, West Qurna Phase […]
By Dr Thamir Uqaili Dr Uqaili is E&P Consultant and CEO of Petroconsult Canada & Associates. He has BSc in Oil Technology and PhD in Petroleum Engineering form the Imperial College in addition to MSc in Water Resources Technology from Birmingham University. Dr Uqaili worked in over ten countries including some 35 years in Iraq, […]
Iraq's South Oil Company has awarded Italy's Saipem the EPIC contract for the Iraq Crude Oil Export Expansion Project – Phase 2, within the framework of the expansion of the Basra Oil Terminal (ABOT), off the Al Faw Peninsula in the Arabian Gulf, approximately 550 kilometres south-east of Baghdad. The contract encompasses the engineering, procurement, […]
By Chris Bowers, British Consul General in Erbil. This article was originally published by Rudaw, and is re-published with permission by Iraq Business News. One of the pleasures of writing this column is that it gives me an opportunity to challenge a few myths. One of which is the view that UK businesses are lagging […]
CommLab India has been awarded an eLearning contract by Iraq's Ministry of Oil. This turnkey project is the first of its kind for the Ministry of Oil. The first phase of this project involves a one-year pilot across three of their locations – a refinery, a training center and the oil ministry. CommLab India will […]
WesternZagros Resources has announced a strategic investment agreement with the Abu Dhabi National Energy Company PJSC ("TAQA"). The company's shares have risen 23% since Friday's close. Under the Agreement, TAQA will purchase, through a private placement, 74 million common shares in the Company at C$0.63 per share for gross proceeds of C$46,620,000. When this private […]
The Gulf Today reports that Iraq's State Oil Marketing Organisation (SOMO) has issued a tender to buy: 1.365 million tonnes of gasolinen (unleaded 92 RON); 773,000 tonnes of 0.1 percent gas oil; and, 292,000 tonnes of jet fuel. The fuel is for delivery into Khor Al Zubair terminal between January and June 2012. (Source: Reuters, […]
The Iraq Deputy Prime Minister for Energy, Dr. Hussain al-Shahristani, will be delivering the keynote address at the ‘Iraq: Untapped Opportunities’ conference in London on 22 November 2011, arranged by the Middle East Association and supported by the National Investment Commission of Iraq, UK Trade & Investment and Allurentis. Dr. al-Shahristani will be joined by […]
DNO International announced that is has has completed the process begun earlier this fall, and previously disclosed in September in connection with its planned merger, to end all related party relationships with its former chairman Berge Gerdt Larsen as these were deemed by the board and management to have no continuing business purpose for DNO. […]
The American petrochemical producer Chevron Phillips Chemical is to invest $6 billion [7.2 trillion Iraqi dinars] to create a new facility in Basra. AKnews reports that the Company has obtained a licence to operate in the city, and that Basra Investment Commission has also voiced its support for the project and is now seeking to allocate […]
