Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By Stan Harbison, Vice President of Research and Analysis at energy consultants EPRINC. The initial steps in new Iraqi production have been well received by the Oil Ministry, but now the heavy lifting is underway. A bevy of oil service contracts is in place. The most important work is taking place in the three large […]
Iran’s power development firm, Sunir [Sanir] is negotiating with the Iraqi side to expand the capacity of a plant it is constructing in Baghdad from 160 megawatts to 640 megawatts. Sunir, the power construction arm of Iran’s energy ministry, is the largest foreign contributor in Iraq’s rickety power infrastructure, according the the report from Azzaman. […]
Shares in ShaMaran Petroleum, the Kurdistan-focused oil development and exploration vehicle, rose by 10% on Wednesday as it reported on its oil resources. Please click here to download the full document.
Production Baiji [Beiji, Bayji] refinery has reached 300,000 barrels per day, according to an official spokesman at the oil ministry. Essam Jehad told Aswat al-Iraq news agency that the refinery’s production was at its highest level this year. Output at the complex, which processes crude into diesel and gasoline, fell by 150,000 barrels after a […]
Gulf Keystone has announced the results of the previously reported well test at the Shaikan-2 Appraisal Well drilled approximately nine km to the south-east of the Shaikan-1 discovery well. Shares in Gulf Keystone closed the day down 6% on Tuesday. Shaikan-2 has achieved short term, indicated rates of 10,144 barrels of oil per day (bopd) […]
Massoud Barzani, the president of Iraq's autonomous Kurdistan region, called on Monday for a raft of reforms after protests against nepotism, corruption and a political stranglehold by the two main parties. He urged parliament for early provincial elections and the speedy creation of an integrity commission to check corruption and nepotism in many areas, including […]
Iraq welcomes Sri Lanka’s cooperation and talented labour force to rebuild the nation, according to a report from Sri Lanka's Daily Star. Addressing a media briefing at the Chamber of Commerce yesterday, Iraq's Ambassador, Kahtan Taha Khallaf Kali, said Iraq aims to produce 11 million barrels of oil per day in 2016, compared to about […]
Salahadin Province Council decided last week to form committees in order to negotiate with the Kurdistan Regional Government (KRG) about drilling for oil in the Tozkhormato region [Tuz Khormato]. Provincial Council member Damen Alaiwi told Alsumaria News that the council decided the plan in order to give people living in that region the right to […]
Heritage Oil has held the 10% gain in its share price, following the report in the Thursday's Financial Times that the company had received a informal takeover offer from an un-named Abu Dhabi-based company. The company has not commented on these latest rumours, and is understood to have rejected the offer, which would value the […]
According the a report from Aswat al-Iraq, the Director General of Iraq’s State Oil Marketing Organisation (SOMO), whom it names as Hussein Jamal Abdullah, has been shot dead in Baghdad. The attack was carried out by a group of armed men close to west Baghdad’s People’s Stadium. A colonel in the Iraqi Army has also […]
Platts reports that reduced pumping rates through Iraq's northern oil export pipeline to the Turkish port of Ceyhan are expected to cause delays of eight to nine days to crude oil loadings. Pumping through the pipeline, damaged by a bomb attack over a week ago, resumed on Wednesday but at below normal levels, the sources […]
The following report was presented by Ahmed Mousa Jiyad to the Institute for Energy of the European Commission in Amsterdam, and it is reproduced here with his permission. Mr Jiyad is an independent development consultant, scholar and Associate with Centre for Global Energy Studies-CGES, London. He was formerly a senior economist with the Iraq National […]
