Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
Share prices in companies related to oil exploration in Kurdistan rallied on Monday, as stories circulated about a resolution of the dispute between Baghdad and Erbil on the recognition of oil contracts. This came despite an escalation in tensions between the two administrations regarding these contracts, which was brought to a head with the announcement […]
In its third quarter report, Dana Gas has given on update on its Kurdistan operations: "In the Kurdistan Region of Iraq, construction and commissioning of the LPG plant and supporting facilities are now complete, and gas is being delivered to the Erbil and Sulaymania power stations at peak rates in excess of 300 million standard […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The news of ExxonMobil’s venture by signing 6-blocks PSCs with KRG could have very serious ramifications as the move is rather puzzling, it occurred and became known at critical time, and consequently […]
An adviser to the Resources Minister of the Kurdistan Regional Government (KRG) confirmed on Friday that ExxonMobil has signed agreements to explore for oil and gas in six blocks in Iraqi Kurdistan, according to Dow Jones. This is big news, as the Baghdad government has previously excluded companies operating in the Kurdish region from oil contracts […]
ShaMaran Petroleum Corporation reports that it has increased the $50 million private placement previously announced on October 25, 2011 to $51 million. The Company will now sell on a non-brokered, private placement basis an aggregate of up to 127.5 million common shares of the Company at a price of $0.40 per common share for gross […]
Society of Petroleum Engineers (SPE) Iraq Workshop Few years have passed since the Iraq hydrocarbon market emerged to take an active role in the global energy market; growing fast with many different types of technical and logistical challenges but offering rewarding fruit. Our first SPE Iraq workshop aims to bridge the gap between the present […]
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 […]
