Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
The Iraqi Oil Ministry denied that the fire that broke out in one of the floors of the oil ministry building last Thursday, caused the destruction of documents related to oil contracts, according to a report from AKnews. Initial investigations indicate that the cause of the fire was an electrical defect. The Oil Minister, Abdul-Karim […]
Iraq's North Oil Company has issued tenders for the supply of: 1) uninterruptible power supplies (UPS). Please click here and here to downoad details. 2) spare parts for wellheads. Please click here to downoad details. The closing dates for both opportunities is 6th February.
The Arab Well Logging Company (AWLCO), a subsidiary of Arab Petroleum Services Company, has extended its deadline for bids to supply truck and logging tools until 15th February. Please click here to download details.
Iraq's Ministry for Oil has announced some new tenders. 1) On behalf of the North Gas Company, the ministry is advertising for the supply of refractory material cement for sulphur recovery units. Please click here to download details. 2) On behalf of the Midlands Refinery Company (Doura refinery), the ministry is looking for fuel consumption […]
Officials of the Kurdistan Regional Government pressed the central government today to recognise oil contracts that they have inked with transnational corporations, warning that they will not resume exports until it does, according to Morning Star. The Kurdistan Regional Government (KRG), which can reportedly export 150,000 barrels a day, has signed 37 contracts for oil […]
Iraq needs foreign investors in the oil sector to help break a bottleneck at its southern ports, Iraqi Prime Minister Nouri al-Maliki said. "We have no restrictions on their [foreign investors] entry. We want them," Maliki told The Wall Street Journal. "We need speed. We need money." Maliki last year gave the nod to a […]
The Iraqi Oil Ministry has announced a plan to equip three refineries with modern equipment that would help in producing oil derivatives. The Undersecretary of the Oil Ministry, Ahmed Shaiyaa, told AKnews that the ministry plans to rehabilitate three refineries: Baiji [Bayji] (pictured), Kirkuk, and Doraa [Doura]. "The ministry will contract with a number of […]
It is one of the better problems a rebuilding country can have: Iraq is attracting too much oil investment. The problem is that the infrastructure does not exist to export most of the extra oil produced. However, this is going to change as early as next year, perhaps increasing exports by one million barrels of oil per day, an increase […]
Shares in Gulf Keystone fell 30% on Wednesday as markets opened for the first time since last week, when Excalibur Ventures in New York issued a legal challenge. Three hours after the London market opened the share price has recovered somewhat, but still leaves a fall of around 10% at 167 pence. Excalibur believes it is entitled […]
The oil minister, Abdul Karim al-Luaibi, has been busy in the few days since his appointment. Not only has he announced that exports from the northern Kurdistan region are to resume, but he has also promised that the focus will be on rebuilding the decayed oil infrastructure, according to the Arab Times. Al-Luaibi, who has […]
One of the first acts of Iraq's oil minister is to announce that oil exports from the northern, semi-autonomous region of Kurdistan will begin again shortly, according to Associated Press. Abdul Karim al-Luaibi said exports will resume "in the coming few days." Al-Luaibi is independent, but with links to Prime Minister Nouri al-Maliki's Daawa party. Just a […]
Iraq's oil minister, Abdul-Karim Elaibi [Luaibi], says the country's daily crude production has exceeded 2.6 million barrels a day. The minister says oil production will reach its planned targets "sooner than expected." Elaibi did not set a date for reaching these new levels in comments to reporters on Monday, although some reports put the target […]
