Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
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 […]
Midland Refineries Company announces the below tenders: -83 items of spares for pumps. -8 items of spares for pumps. -11 items of spares for compressors. -44 items of spares for boiler feed pump. -7 items of spares for pumps. -20 items of spares for new river water diesel driven group. - 31 items of tools […]
North Gas Company announces a new spares tender . Offer should be worked out on the basis of CIP Kirkuk, kindly state the following: -Unit Price -Delivery Date & offer validity (90 days) -Include bid bond (1%) of offer value valid for 90 days within technical-envelope otherwise be declined -Country of Origin -Port & country […]
The Oil Projects company (SCOP) announces the issuance of a new design & supply of tank gauging system & field instruments for K3 pumping station at Hadith. Tender documents may be collected (by an authorized representative of the tenderer ) at SCOP's headquarter in Baghdad against the payment of a non-refundable 250 000 (Two hundred fifty thousands). […]
Midland Refineries Co announces for purchasing of a new automatic in-line oil blending unit of 40 M3/HR Capacity. Technical and commercial offers to be submitted separately by DHL and all the offers that send by email will be refused. Closing Date is 4/7/2011 till 1 o'clock in the afternoon. Please click here to find all the tender's […]
