Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
Italy’s energy giant Eni is still interested in investing in the Nassiriya oilfield, Italy's ambassador to Iraq has said. Ambassador Gerardo Caranti was visiting Iraq to evaluate the progress of several projects and to study future suggestions. "We have several projects in Iraq at a cost of more than $2 billion," he told Aswat al-Iraq […]
The Iraqi oil minister said his office is planning to raise oil production volume to 6.5 million barrels per day (bpd) over the next four years. Abdul-Kareem Lueibi [Luaibi, Elaibi] told a press conference that the ministry expects to raise the volume to 2.75m bpd in 2011, 3.3m in 2012, 4.5m in 2013, and 6.5 […]
Iraq plans to sign power plant contracts valued at $6.25bn [7.3 trillion Iraqi dinars] next week with Caterpillar and other companies, according to Arabian Business. Caterpillar, Man SE of Germany and at least one South Korean company will build 50 new power stations, each capable of generating 100 megawatts, Electricity Minister Raad Shallal said on […]
Sterling Energy (AIM: SEY) has provided an update this morning for the Sterling-operated Sangaw North block in Kurdistan (53.33% working interest). Sangaw North #1 Well The side-tracked wellbore of Sangaw North #1 well has been drilled to a depth of 3,360 metres, into the top of the Jurassic formations and at a depth above where […]
Gulf Keystone has announced that the Bekhme-1 Exploration Well has spudded on the Akri-Bijeel block in the Kurdistan Region of Iraq on Monday, 21st March 2011. Bekhme-1 is the second exploration well to be drilled on the Akri-Bijeel block, 20 km to the north-east from the Bijell‑1 discovery well (Operator's P50 estimate of 2.4 billion barrels […]
We've reported in the recent past on the difficulties faced by foreign businesses in getting visas to work in Iraq. This week Iraq Oil Report has found that the reason for the delays is a decision by the office of the Prime Minister, Nouri al-Maliki, that applications for visas don’t just go through the Interior […]
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 […]
