Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
Maersk Oil, a fully-owned subsidiary of the A.P. Moller – Maersk Group, has acquired a 20% shareholding in HKN Energy Ltd., a subsidiary of U.S.-based Hillwood International Energy, whose sole asset is a licence in Kurdistan Region. The acquisition is a step into the prolific but as yet underdeveloped area of Kurdistan in oil output […]
Shares in Gulf Keystone were up nearly 8% in early trading on the London Stock Exchange, following a Sunday Times newspaper report that it looking to sell itself for up to 1.4 billion pounds ($2.3 billion). The company issued the following statement on Monday morning, saying that press estimates significantly undervalued the company: Gulf Keystone notes […]
WesternZagros Resources has started drilling operations at the Mil Qasim-1 well on the Garmian Block in the Kurdistan Region of Iraq. Mil Qasim-1 is located three kilometers to the south-east of the Company's Sarqala-1 discovery well. Mil Qasim-1 is targeting the prospective Upper Fars interval that exhibited numerous oil shows, including oil to surface in […]
On Sunday 28th August the Council of Ministers approved the draft oil and gas law prepared by the Ministry of Oil, considering it the only text that represent the council's view, and treating all other previous versions as invalid. Also the council decided to send the proposed draft to the parliament and request to table […]
Iraq has agreed to increase oil exports to Jordan by 50%, according to AKnews. The Iraqi Oil Ministry has signed the agreement with its Jordanian counterpart today to increase oil exports from the Baiji [Bayji, Beiji] refinery (pictured) from 10,000 barrels per day (bpd) to 15,000 bpd. Falah al-Ameri, director of the State Oil Marketing […]
The Deputy Prime Minister for Energy Affairs, Hussein al-Shahristani, has been nominated to the post of Acting Minister of Electricity, along with his current post, the semi-official Iraqiya TV Satellite Station reported on Wednesday. “Prime Minister, Nouri al-Maliki, has assigned his Deputy for Energy Afffairs, Hussein al-Shahristani, to hold the administration of the Minister of […]
Heritage Oil has announced its interim results for the six months ended 30 June 2011. Operational Highlights · Miran West-3 well in the Kurdistan Region of Iraq ("Kurdistan"), commenced drilling on 7 August 2011 · Miran 3D seismic acquisition is nearing completion and 2D seismic acquisition in the southern portion of the Miran Block has […]
Supported by the Kurdistan Regional Government, the Iraqi Government and the Ministry of Natural Resources – Kurdistan, Kurdistan-Iraq Oil & Gas will take place in Erbil on the 13-15 November 2011. The summit will be opened by H.E. Dr Barahm Salih, Prime Minister of Kurdistan and H.E. Dr Ashti Hawrami, Minister of Natural resources as […]
A refinery with a capacity of 150,000 barrels per day will be constructed by the Egyptian Qalaa Company in Nineveh province. In a statement, Deputy Oil Minister Ahmed Shamaa said the Ministry of Oil has contracted Qalaa to establish the refinery which will process the crude oil from the Najma and Gayar fields near Mosul. […]
An Amman-based freight company has won a tender to transport 30,000 metric tons of fuel oil per month from Iraq to Jordan, the nation’s official news agency Petra said. Bloomberg reports that the company is called 'Mahmoud Al Zoubi for Transport', and that it will charge 37.3 Jordanian dinars ($52.65) per ton, which was the […]
Iraq's oil ministry has issued a list of the 41 companies qualified to participate in its fourth energy bidding round in January: ATPECO - Japan Bashneft - Russia BP - UK Chevron Corp - United States CNOOC - China CNPC - China Edison - Italy Egyptian General Petroleum Corp - Egypt Eni Iraq - Italy […]
Iraq's oil exports for July fell compared to the previous month in volume terms, but revenues rose as average crude prices increased, the oil ministry said on Monday. AFP reports that Iraq exported 67.2 million barrels in July, down from 68.2 million barrels in June Revenues were up, at $7.311 billion, compared to $7.173 billion […]
