Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
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 […]
The Iraqi Oil Ministry said on Saturday that it will prevent ExxonMobil from participating in the fourth oil licensing round if it does not cancel its contracts with the Kurdistan Regional Government, according to AKnews. Abdul Mahdi al-Amidi, Director General of the Contracts and Licenses Department, said that Exxon Mobil violated the working laws of […]
Groundstar Resources has announced that it is joining with its partners, Niko Resources and Vast Resources, in proceeding at Qara Dagh, where site-preparation, engineering and logistics will be carried out in the first half of 2012. The QD-2 well is anticipated to spud in the second half of 2012. Groundstar and partners are also exploring […]
British companies need to move fast if they are to gain a foothold in Iraq and avoid losing out to their competitors. This was the clear message given at the Middle East Association’s ‘Iraq: Untapped Opportunities’ conference held on 22nd November at the Dorchester Hotel, London. Supported by the National Investment Commission of Iraq, UK […]
Hermes Datacommunications International Limited, a key specialist providing Wide Area Network communications to the upstream oil and gas industry has announced that they have received their trading license for Iraq. The Hermes Datacomms Iraq branch has been approved by the Republic of Iraq Ministry of Trade. By obtaining this license, Hermes Datacomms further secures its […]
At the 'Iraq: Untapped Opportunities' conference in London, Charles Hollis (pictured), Director General of the Middle East Association asked a panel of leading businessmen to make one suggestion each as to how Iraq can improve its development efforts. Hans Nijkamp, VP and Country Chairman for Iraq at Shell, said the authorities need to make a […]
The Financial Times has interviewed the Natural Resources Minister of the Kurdistan Regional Government (KRG), Dr Ashti Hawrami, about the future direction of the region's oil industry. Please click here to see the full video.
