Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
MRC invites to bid for the following tenders: -15 ton fork list -Lab Equipment -Lab Equipment -Wheeled Material -5 Ton Lorry Trake -Air Plan Unit -Lab Equipment -Wheeled excavator -Electrical Motor Please click on the above links to to obtain the conditions list for every tender.
North Gas Company announces a new spares tender for Ajeel Gas field scrubber. Please take into consideration that your offers must be in sealed envelopes (technical & commercial offers) with indent number & closing date clearly mentioned on the envelope , addressed to the attention of B.B.C (Broadly bids box) at North Gas Company , […]
Reuters reports that the China National Petroleum Corp (CNPC), the first foreign oil company to sign an oil service contract in Iraq after former president Saddam Hussein was toppled, said on Monday said that it completed construction of the first phase of the Al-Ahdab oilfield. The parent of PetroChina Co Ltd said it started work […]
Iraq has committed to providing accurate figures about its oil revenues by agreeing to verify details of its oil industry with the Extractive Industries Transparency Initiative (EITI). Eddie Rich, deputy head and regional director of the Extractive Industries Transparency Initiative (EITI), told RFE/RL's Radio Free Iraq (RFI) on June 24 that Iraq "is in the […]
Petrel Resources has announced its preliminary results for the year ended 31st December 2010: Highlights: The Subba and Luhais oil field development contract in Iraq is virtually completed. Petrel has received all US$7 million due from the sale of the Company's shareholding in Subba and Luhais. Petrel maintains a 10% profit interest. Petrel has applied […]
Details of the new Basra Logistics City, on the site of the old Camp Bucca, have been released. In December, the head of Basra Investment Commission said the $245 million-deal with the Iraqi Kufan Group and the American Northern Gulf Partners to develop the site marked a significant step toward rebuilding Iraq as it emerges […]
The Italian oil company Eni, and its Saipem subsidiary, said in a statement Wednesday that they are the injured parties in an investigation into alleged bribes related to contracts in Kuwait and Iraq. BusinessWeek says Milan prosecutors are investigating whether executives took bribes from Italian engineering and construction firms for subcontracts in Iraq's Zubair oil […]
By Chris Bowers, British Consul General in Erbil. This article was originally published by Rudaw, and is re-published with permission by Iraq Business News. Let me start by asking a question: why is gas less talked about than oil in Iraq? I am not sure why this is the case but it does seem to […]
Bloomberg reports that Iran has agreed to supply 1.5 million liters a day (9,400 barrels), of gasoil to Iraq over the next 12 months for power generation. Masaab Serri, spokesman for the Iraqi Electricity Ministry, said in an interview that the fuel will enable power plants to generate 250 megawatts, according to the agreement signed […]
Reuters reports that Iraq and its partners, Russia's LUKoil and Norway's Statoil, have shortlisted five companies to compete for the West Qurna Phase Two oilfield development contract. An Iraqi oil official who asked not to be identified said on Tuesday that the oil service companies selected are Saipem , SNC Lavalin Group Inc , Punj […]
Gazprom Neft has chosen Schlumberger to drill the first wells in the Badra oil deposit development project in Iraq, reports Oil Voice. The contract will last three years, and will involve three drilling rigs, with the drilling of the first appraisal and development wells expected to be completed in early 2012. A total of 11 […]
Output at the West Qurna oil field in Basra has increased by 26% since March, reaching 347,000 barrels per day (bpd), according to AKnews. Madi Abdul-Razzaq, director of the operations committee said: "We have a number of new projects to increase production to 400,000 bpd by the end of 2011. The increased production in West […]
