Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
Bloomberg reports that Iraq’s oil production rose to 2.81 million barrels a day, the highest level since the U.S.-led invasion in 2003. Output from oilfields in the Basra reached 2.113 million barrels a day, while daily production in Kirkuk stood at 697,000 barrels, the Oil Ministry said in a statement. (Source: Bloomberg)
Iraq has been devastated by severe conflict for several years. However, rebuilding Iraq will prove to be one of the biggest global investment opportunities for companies involved in the energy sector. According to a recent article in The National newspaper, Iraq sits on the third largest oil reserves in the world and pumps 2.75 million […]
Design , supply of Automatic FM-200 system for electrical , control buildings pump house & booster pumps protection for K3 pumping station at Hadith. The country of origin of the materials should be from Western Europe, USA, Canada & Japan. Tenders documents may be collected (by an authorized representative of the tenderer) at SCOP's headquarter […]
Aberdeen City Council has announced a new initiative to encourage North-east companies to explore business opportunities in Iraq. Upper Quartile, an Edinburgh-based economic development consultancy, will manage the programme, which will target the oil and gas sector, academic institutions and other contractors. Seminars will be held over the coming months to inform firms of the […]
The following article was published by Reidar Visser, an historian of Iraq educated at the University of Oxford and currently based at the Norwegian Institute of International Affairs. It is reproduced 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. […]
Minister Ali al-Dabbagh, Iraqi Government Spokesman, was interviewed by Padraig O'Hannelly for Iraq Business News at last week's Iraq Mining 2011 conference in London. The first part of the interview can be found here. In this second part of the interview, Dr al-Dabbagh discusses the Hydrocarbon Law, the valuation of the Iraqi dinar, foreign investment […]
The contract for the giant Shell/Mitsubishi project to capture gas from Iraq's southern oilfields has taken a step closer to completion. Government Spokesman Dr Ali al-Dabbagh told Iraq Business News that Shell has agreed to the changes required by the oil ministry, and that the contract is now awaiting approval by Iraq's Cabinet. The project […]
Gulf Keystone has announced that it plans to sell a stake in one of its oil blocks in Iraqi Kurdistan. In its half-year operational review, the company said it would seek a buyer for its 20 percent interest in the Akri-Bijeel block, which is estimated to hold around 2.4 billion barrels of oil, and which […]
Dow Jones reports that Iraq and BP have not yet reached agreement on reimbursement of costs to build a multi-billion-dollar oil field water injection scheme in southern Iraq. ExxonMobil was chosen to lead the project on behalf of foreign oil companies rehabilitating Iraqi oil fields. Nihad A. Moosa, head of the State Company for Oil […]
Italian firm Saipem, a subsidiary of oil group Eni, has been awarded a $469 million contract to expand oil export facilities in the southern port city of Basra, according to a report from AFP. The agency quotes government spokesman Ali al-Dabbagh as saying that the company has to complete the project within two years of […]
Gulf Keystone, whose shares are up 75% over the past six weeks, has issued its Operational Summary for the First Half of the year: Kurdistan Region of Iraq · 150% (P90) - 45% (P10) increase in gross oil in place numbers for the Shaikan discovery with a range of 4.9 billion (P90) to 10.8 billion (P10) barrels, following independent evaluation […]
The chairman of the South Oil Company (SOC), Mr. Dhiaa Al- Mousawi, visited Basra Investment Commission (BIC) last week and met its new chairman Mr. Khalaf Al- Badran. They discussed the possible means of creating joint cooperation in order to reactivate the investment opportunities in a step to develop investment in Basra. The chairman of […]
