Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
"A tanker truck that unloaded the oil it was carrying from Iraq in the special zone located in 'no-man's land' on the border between Iraq and Jordan caught fire due to an explosion, causing a fire that affected 19 other trucks," a Jordanian security official told AFP. Police report that two people were killed, between […]
Volumes down, but revenues up Revenue from Iraq’s crude oil exports rose to $4.53 billion in October, the highest level this year, the State Oil Marketing Organization (SOMO) has revealed. The average price for exports in October was $77.10 per barrel, up from $73.07 in September and $71.43 in August. The country exported 46.2 million […]
According to a report from Chatham House, the 'oil question' in Iraq has traditionally been viewed almost exclusively through the prism of ethno-sectarianism. Disputes over the management and licensing of the hydrocarbon sector and over revenue distribution have been seen as a battle for power between Iraq's ethnic and sectarian communities, as if these were […]
Iraq's newly-appointed President, Jalal Talabani (pictured), is apparently using his full allowance of 15 days to formally appoint a new Prime Minister, thus allowing the haggling over the details to continue. And while Nouri al-Maliki remains the 'agreed' candidate, we should never under-estimate the Iraqi parliament's ability to throw us a last-minute surprise. If al-Maliki […]
Halliburton signed the one-year contract with Shell on Tuesday to develop the Majnoon oilfield, according to a media source from Shell. Hanadi al-Salman told Aswat al-Iraq news agency that, “according to the new deal, Halliburton will set up operation centers to dig 15 new wells,” he added. When the contract win was originally announced in […]
Iraq will soon ask for bids on projects to install and run 22 gas turbines that could boost its power generating capacity by 30 percent in the next few years, an official from the Ministry of Electricity said on Tuesday. Reuters reports that the ministry plans to ask companies to build plants in four provinces, […]
Iraq and Kuwait have agreed to create a 500-metre no-man's land on each side of the border, and to move Iraqi farmers to new homes, a Kuwaiti official said today (Wednesday). The Al-Seyassah daily quoted foreign ministry official Jassem Al-Mubaraki as saying that under the deal, Kuwait undertakes to build up to 50 homes inside […]
Iraq's Ministry of Oil denied on Monday that the cause of Iraqi air pollution is the use of tetra ethyl lead (TEL) as an additive to the petrol used in cars. The Ministry stressed that [imported] fuel does not contain this substance, while the locally produced petrol uses it only in small quantities. TEL has […]
The Iraq Petroleum 2010 Conference, taking place in London at the Millennium Gloucester on 29 Nov-1 Dec 2010, will focus on Iraq's upstream strategies to increase production and drive Iraq's oil and gas industry, new ventures, bid rounds and corporate oil and gas players in the industry. These topics will be delivered by industry specialists, […]
Italy's Eni SpA and its partners will raise oil production from Iraq's Zubair oil field 10% above its previous level of around 180,000 barrels a day by the end of this year, the company said on Tuesday. Dow Jones reports that once the 10% increase is achieved, Eni will start receiving payment in the form […]
GE (NYSE: GE) has signed a contract with Iraq’s Ministry of Electricity to supply an advanced fuel oil treatment technology, FuelSolv, to help enhance the reliability and productivity of the Al-Quds power plant on the outskirts of Baghdad. “The Al-Quds power station provides much-needed electricity for Iraq and GE’s innovative gas turbine technology and fuel […]
The Iraqi Minister of Planning and cooperative Development said on Sunday that delays in reconstruction projects in the country are due to the re-sale of projects to subcontractors. Minister Ali Baban told AKnews that the re-sale system of secondary projects had a negative impact on the reconstruction of the country and that it would require […]
