Archive | Iraq Oil & Gas News

Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.

Sterling Energy Slips on Kurdistan Update

Shares in Sterling Energy (AIM: SEY), the independent oil and gas exploration and production company, fell 10% on Thursday morning following an update on operations at its Sangaw North block (53.33% working interest) in Kurdistan. Since the last update on 23 November 2010, operations have been conducted to remove the hydrocarbon gas, containing approximately 0.5% […]

Anti-US Cleric Returns to Iraq

Another wild-card was thrown into the Iraqi mix on Wednesday with the return of radical Shia'ite cleric Muqtada al-Sadr from nearly four years of self-imposed exile in Iran. A fierce opponent of the United States and head of Iraq's feared militia, the Mehdi Army, al-Sadr's return was reportedly low-key, and was not entirely unexpected following […]

Iraq’s Mosul to Produce 200,000 Barrels of Oil Per Day

The Province of Nineveh [Ninawa], of which Mosul is the capital, will soon turn into a major oil producing region in Iraq, with output estimated at 200,000 barrels a day, an Iraqi oil official said. According to the report from Azzaman, the official, who refused to be named, said the crude will mainly flow from […]

Gulf Keystone Jumps on Shaikan-3 News

Shares in Gulf Keystone (LSE: GKP)jumped 5.5% in London on Wednesday after the company announced the completion of drilling and testing operations on its Shaikan-3 shallow appraisal well. This well was designed to drill and test the Cretaceous intervals in the immediate vicinity of the Shaikan-1 discovery well. The Company has a 75 percent working […]

US Sanctions Hamper Iraq Power Imports from Iran

Due to US sanctions, Iraq has been unable to pay Iran millions of dollars owed for electricity, an Iraqi official said, potentially damaging its efforts to supply enough power to a population suffering chronic shortages. According to the report from Reuters, Adel Mahdi, an adviser to the electricity ministry, said on Wednesday that Iraq imports […]

Iraq and Jordan Agree to New Oil Pipeline

Iraqi State Minister, Ali al-Dabbagh, said Iraq agreed to build pipelines across its shared border with Jordan to increase supplies of oil to its western neighbour, according to a report from Bloomberg. The countries also agreed to discuss development of the Risha natural-gas field along their common border, the minister told a news conference in […]

Fourth Bidding Round for 12 Iraqi Gas Fields

Iraq is considering holding a fourth bidding round for international energy firms interested in gas exploration contracts, government officials said on Sunday. Iraq will initially offer 12 exploration blocs, Oil Minister Abdul Kareem Luaibi [Elaibi] told reporters. According to both Reuters and Associated Press, the minister did not give further details, but Abdul-Mahdy al-Ameedi, head […]

Kuwaiti Governor Discusses Opportunities in Karbala

The Governor of the Kuwaiti Capital, Sheikh Ali Al-Jaber, visited soutwestern Iraq’s holy city of Karbala on Sunday to discuss the implementation of several investment projects in the Province, its Governor, Amaluddin al-Hir, said on Sunday. “We have conferred with a Kuwaiti Delegation, who visited Karbala, under leadership of the Kuwaiti Capital’s Governor, Sheikh Ali […]