Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
Iraq’s State Oil Marketing Organisation (SOMO) has adjusted its official selling prices for its Basra Light and Kirkuk crude grades for January. In common with some other countries, Iraq’s oil is priced relative to regional benchmark prices: For shipments to US, contracts are priced are relative to the Argus Sour Crude Index (ASCI); Shipments to […]
A multi-billion-dollar gas deal between Iraq and Royal Dutch Shell will be presented for ratification to the new cabinet once it has been formed, Iraq's Oil Minister said. "We are still negotiating the contract," Hussain Al Shahristani said after a graduation ceremony for the oil police, according to a report from Trade Arabia. The $12 […]
Iraq's State Oil Marketing Company (SOMO) has issued a tender for 2,600 tonnes of gas-oil for the Ministry of Electricity. Bids will be accepted until 12:00 on 20 December, 2010, Baghdad time. Please click here to download the English tender document ... ... and here to download the document in Arabic.
The Swedish ambassador in Iraq visited Basra on Thursday to discuss cooperation in business and investment. Basra's governor, Sheltag Abboud Mayah, told AKnews, that the Swedish delegation to Basra came after his visit to the Swedish government to promote cooperation between the two countries. “Opening the Swedish consulate in Basra ... means opening investment opportunities” […]
Eni SpA and its partners, Missan Oil Company, Occidental Petroleum, and Korea Gas Corp (KOGAS), have reached a key production target at Iraq's Zubair oil field. Production at the field near the city of Basra has increased to 201,000 barrels a day from 183,000 when Eni and its partners took over management of the field […]
The dispute between Baghdad and the Kurdistan Regional Government (KRG) over the legitimacy of international oil contracts signed by the Kurds appears to be over. Baghdad’s dispute with Kurdistan froze oil exports from the region last year. Asked if the dispute between the two Iraqi powers had been resolved, Iraqi Oil Minister, Hussain al-Shahristani, told […]
GE (NYSE: GE) today announced that it will provide gas turbine technology to Mass Global Investment Company, an independent power producer, to help meet northern Iraq’s growing demand for electricity. Under the agreement, GE will supply three Frame 9E gas turbines and generators for the 375-megawatt expansion of the Arbil Power Plant, located in Iraq’s […]
An investment delegation from the Korean company Hyundai, specialized in establishing and equipping oil-fired power plants, visited Anbar province on Tuesday to discuss proposals for investment in the province, according to a report from AKnews. Wissam al-Rawi, the head of the Energy Committee of Anbar Council, said that the council discussed investment with the Hyundai […]
An economic adviser to the Iraqi government, Salam al-Qoraishi, said Iraq and Syria had agreed in principle to extend a pipeline with a capacity of 1.7 million barrels through Syrian territories to export Iraqi oil to the Syrian ports on the Mediterranean Sea, according to AKnews. Iraq is currently linked to the Turkish port of […]
These two reports date from December 2009, but are still worth reading by anyone who is interested in the investment climate in the country. Iraq Business News has been in contact with the National Investment Commission (NIC) regarding updates to these reports, and we will keep our readers informed as soon as new documents are […]
MOL Hungarian Oil and Gas has informed the markets that, further to its recent notification on 8 November 2010 on the test results, it has submitted the Discovery Report on the Bijell-1 exploration well to the Ministry of Natural Resources of the Kurdistan Region of Iraq. As previously announced, 3,743 bbl/d 13° API oil and […]
Companies investing in the al-Halfaya oilfield finalized the construction of residence camps and the setting up of drilling equipment to embark on the project on Dec. 15, according to the Missan Oil Company director on Friday. “The consortium of Chinese, Malaysian and French companies investing in al-Halfaya oilfield, 25 km [15 miles] east of al-Amara […]
