Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
The Ministry of Labor and Social Affairs has said it will require foreign companies operating in Iraq to ensure that local Iraqis make up at least 50% of their work force, in a bid to reduce unemployment in the country. Official figures indicate that Iraq has more than 25% unemployment with unofficial statistics indicating up […]
Shares in ShaMaran Petroleum rose slightly on Friday following the release of the company's final resutls for the year ended December 31st, 2010. The Company reported a net loss of $1.0 million (2009: net income of $2.9 million). Cash balance was $58.7 million as at December 31, 2010 (2009: $63.6 million). Please click here to […]
Groundstar Resources has announced the following update on the drilling progress of the Qara Dagh - 1 exploration well in Kurdistan, Iraq. Since the last update on January 14, 2011, the well has drilled to 3,558 meters measured depth ("MD"). Over the past several days, a 7 inch liner has been set and cemented at […]
Iraq's proven oil reserves total around 173 billion barrels, Deputy Prime Minister Hussain al-Shahristani (pictured) said on Wednesday, according to a report from Dow Jones Newswires. Only 143 billion barrels of these reserves have been fully audited, he said. Another 30 billion barrels located in the Kurdish region of Iraq are considered proven but haven't […]
Iraq's Electricity Ministry said on Wednesday it had shortlisted two private Kurdish-owned companies to build and operate a power plant costing up to $1 billion in Iraq's southern Basra province, Reuters reports. The companies concerned are the Jordan-based Mass Global Investment Co and Arbil-based Kar Group. A winner will be selected at the end of […]
Adnan Al Janabi, the chairman of Iraq's Oil and Energy Committee has said an agreement is likely to be reached in the second half of 2011with Kurdistan on revenues from crude oil exports, Reuters has reported. "The Kurdish authorities requested it for June or July but I think we will miss it. I expect it […]
An advertisement for Trust Petro Serve in this week’s IBN Newsletter, sent out this morning, was linked to the wrong web site in error. Anyone wishing to contact Trust Petro Serve may reach them at: www.trustpetroserve.com, or email Mark O’Hanlon at [email protected], telephone number: +44 1892 704 165 We apologise for any confusion.
International oil companies (IOCs) in Iraq have stepped up efforts to clear the country of millions of landmines, but according to Reuters progress remains slow due to security constraints. According to its demining plan, Iraq is supposed to clear 2 percent of its contaminated land this year but has already hit 5 percent thanks to […]
Gas Filing Co. , one of the ministry of oil companies , has the pleasure to announce for the tender of supplying equipment inspection geometrical as a part of capitalism part of 2011. The bids shall be submitted to Gas Filling Co at 2 o'clock pm of 10/5/2011 Please click here to download more information
ShaMaran Petroleum, the Canadian oil and gas company listed on the TSX Venture under the symbol "SNM", has announced that drilling of the Pulkhana-9 appraisal/development well in the Pulkhana oilfield commenced on April 3, 2011. The Company has contracted an alternative drilling rig (Sakson 101) to the originally agreed Sakson PR3 rig as there was […]
According to a report from Bloomberg, the chairman of the Iraqi parliament’s Oil and Energy Committee said in London on Tuesday that Iraq will be unable to pass its oil and revenue-sharing laws by this summer because of ongoing political disagreements. Passage of the law by June or July is “unfeasible,” Adnan Al-Janabi said at […]
Midland Refineries Co announces new tenders for purchasing the materials as stated below: * 23 items of Spare part for turbine type 353 T Req. No : 1165/2011 * 5 items of Burner soot blower , condenser and ejectors Req. No: 1202/2011 *12 items of Spare parts for extra action pump Req. No: 1194/2011 *18 […]
