Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
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Iraq’s State Oil Marketing Organisation (SOMO) has adjusted its official selling prices on Sunday for its Basra Light and Kirkuk crude grades for August. In common with some other countries, Iraq’s oil is priced relative to regional benchmark prices: For shipments to US, contracts are priced are relative to the Argus Sour Crude Index (ASCI); […]
Iraqi Prime Minister Nouri al-Maliki will travel to China this week in a bid to attract Chinese investors to Iraq, an advisor to the PM told AKnews on Tuesday. Ali al-Mousawi said that Maliki will head a trade delegation, following an official invitation from the Chinese government. Mousawi said Chinese companies are already heavily engaged […]
Hermes Datacommunications Middle East, a key specialist providing Wide Area Network communications to the upstream oil and gas industry has secured a contract to provide Very Small Aperture Terminal (VSAT) communications to Expro North Sea Ltd in Iraq. The contract outlined will include a fully managed VSAT network, bandwidth, equipment, installation and support to The […]
Shell and Mitsubishi signed a final draft agreement with Iraq on Tuesday for a deal worth between $12 billion and $17 billion to capture flared gas at the southern oilfields. The long-awaited deal still needs the approval of Iraq's cabinet, Oil Minister Abdul-Kareem Luaibi [Elaibi] said in a statement. The Iraqi government will hold 51 […]
Aswat al-Iraq reports that an Iraqi oil pipeline, carrying crude oil to Syria, was blown up northwest of Mosul on Sunday, stopping oil exports to Syria Ninewa police source said “a group of armed men have blown an oil pipeline carrying crude oil from northwestern Mosul’s Ain-Zalah refinery to Syria”, adding that the explosion took […]
Advertising Feature The 2nd edition of Basra Oil & Gas, taking place from 25-28 November 2011, is set to be the largest industry event to date in Iraq. It will certainly exceed the record of the first event which hosted 218 exhibiting companies in 2010. 2nd edition is assumed to be held with more than […]
Shares in DNO International jumped 8% on Tuesday following its report of a more than doubling of reserves for the Tawke oil field in the Kurdistan region of Iraq, as a result of a review and assessment by a firm of independent reservoir engineers. The just completed audit of reserves by France’s Beicip Franlab places […]
Shares in Groundstar Resources closed down 29% on Monday, with Vast Exploration down 54%, following their report of unsteady output at the Qara Dagh - 1 exploration well in Kurdistan, Iraq. Drilling of the Qara Dagh - 1 well has reached a total depth of 3,908 meters, has been log evaluated and, as previously reported, […]
Dow Jones Newswires reports that twenty-seven international companies have submitted documents and paid fees to the Iraqi oil ministry to qualify them to take part in the country's fourth oil and gas licensing round. The auction for the 12 exploration blocks is scheduled to take place in January. "The ministry is studying documents of these […]
Officials in the Ministry of Electricity are involved in the theft of millions of dollars of fuel intended for power stations, an MP from the ruling National Coalition told AKnews on Saturday. Susan al-Saad said that the tankers used to transport fuel to power plants across the country regularly go missing, and that this would […]
The attached document is a detailed analysis of the draft INOC (Iraqi National Oil Company) Law. It was prepared by Ahmed Mousa Jiyad and presented in absentia before the Expert Hearing Session organised by the Energy Committee of the Iraqi Parliament on 3rd July 2011.. Mr Jiyad is an independent development consultant, scholar and Associate […]
