Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
Iraq's Oil Ministry has formally approved a proposal to raise production at the al-Ahdab oil field to 200,000 bpd. The Chinese National Petroleum Company (CNPC) that started exploring the field in June. It is considered to be CNPC's largest oil investment in the Middle East and the first oil field to be newly explored in […]
In its interim results, announced this morning, Petrel Resources said it may review its strategy in Iraq following failure to qualify for bidding in the 4th energy licensing round: After 14 years in Iraq it continues to frustrate. The economy remains fragile, as does the security situation. There is still no hydrocarbon law. As such, […]
Simon Hatfield, CEO of WesternZagros Resources, presented at the World Independent and Junior Oil and Gas Congress yesterday in London. Please click on the following pages to see a copy of his presentation on "Managing Oil and Gas Exploration Risk in the Kurdistan Region of Iraq":
In order to meet the specific insurance requirements of oil rig drilling contractors operating in Iraq, Marsh and Anglo Arab Insurance Brokers (AAIB), Iraq Insurance today announced the launch of a new Iraq Land Rig Facility. The facility provides cover for physical loss of or physical damage to drilling rigs and associated equipment, machinery breakdown and […]
By Gavin Jones, Director of Iraq Business News, and Partner at consultancy firm Upper Quartile. This article was originally published on the Emerging Economics blog. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. We are seeing an unprecedented level of interest in Iraq from […]
Commencing on September 26, 2011, Iraq 2011: Future Energy is an industry summit strategically designed to provide stakeholders in the energy sector with a comprehensive understanding on how to develop a highly efficient and profitable industry with a focus on Iraq. Iraq’s oil and gas, power, electricity and infrastructure sectors have significant opportunities and financial […]
According to Kurdish Globe, as merger awaits final approval by the KRG, analyst believes that the move is ‘good sentiment for the region’. The UK-based Vallares PLC, listed in the London Stock Exchange and led by former BP Plc Chief Executive Officer Tony Hayward, announced on 7 September 2011, its plans to merge with the […]
The first of two new reports posted today on the IBN website puts the Iraq private banking sector under the spotlight. ‘Perspective on Iraqi private banks’ is researched and written by Ahmad Saleh and Tom Opdyke of IraqiXchange. The eight page report provides vital background data plus key stats on the sector. The second report […]
SCOP announces for a new supply of water intake pumps and drinking water pumps tender for Samawa loading and unloading station. The materials should be European , American , Canadian, Japanese and English. Tender documents may be collected (by an authorized representative of the tenderer) at SCOP's headquarter in Baghdad against the payment of a […]
The Chairman of the Baghdad Investment Commission, Shaker A. Shabib, spoke recently with Padraig O'Hannelly for Iraq Business News, and outlined the opportunities available in Iraq's capital: Iraq Business News: I'd like to ask you firstly about the opportunities that are available in Baghdad; we hear a lot about the oil producing regions, but what […]
DNO International today [Wednesday] received a second payment of USD 60 million from the Kurdistan Regional Government in respect of oil exports from the Tawke field operated by the Company in northern Iraq. A first payment of USD 103.7 million was received in June 2011. The Company had previously reported temporary reductions in production from […]
According to U.S Energy Information Administration data, Iraq generates the majority of its revenue by exporting oil and importing about 30% of the gasoline it uses. The country is now seeking $30 billion in foreign investment to build refineries and develop oil and gas fields to avoid importing gasoline and diesel. Iraq Mega Projects 2011 […]
