Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
MEED reports that prospects look good for the only oil services companies eligible to bid for work on Iraq’s oil fields. At the Adipec oil and gas conference, which took place between 1-4 November in Abu Dhabi, the stands belonging to the ‘big four’ US oilfield services companies -- Schlumberger, Baker Hughes, Halliburton and Weatherford […]
Murphy Oil Corporation (NYSE: MUR) announced on Thursday that its wholly-owned subsidiary, Murphy Central Dohuk Oil Co., Ltd., has finalized an agreement with the Kurdistan Regional Government-Iraq (KRG) to acquire an interest in the Central Dohuk block. Murphy will operate and hold a 50% interest in the block. The Central Dohuk block covers approximately 619 […]
The International Energy Agency (IEA) has reportedly poured cold water on Iraq's plans to quadruple oil production to 12 million barrels a day by 2017, saying it could take 20 years just to reach half the target total. But the agency predicted in a draft of its annual World Energy Outlook that Iraq will succeed […]
According to a report from Interactive Investor, foreign oil companies operating in Kurdistan have been thrust into the limelight as the race for a new Iraqi Prime Minister gets underway. There are over 25 international oil companies operating in the region, including UK-listed Gulf Keystone Petroleum (LSE: GKP) and Heritage Oil (LSE: HOIL). AIM-listed Gulf […]
Iraq's Oil Ministry expects to sign the initial contracts for the Mansuriyah and Akkas gas fields on 14th November, and for the Siba gas field the following day, Abdul-Mahdy al-Ameedi, head of the ministry's licensing and contracting office said on Thursday. "And after the signing we will send the initial contracts to the cabinet for […]
Shares in Sterling Energy (LSE: SEY), which has operations in the Kurdistan region of Iraq, fell 10% on Thursday morning following an Interim Management Statement for the period beginning 1 July 2010. HIGHLIGHTS · Sangaw North #1 exploration well is drilling ahead at 2,927m. · Production, net to Sterling from the Chinguetti field, averaged 621 […]
According to Iraq Oil Report, the US authorities advised Marathon Oil against entering into their recent contract with the Kurdistan Regional Government in the absence of agreement with Baghdad. "The United States’ position remains that it is in the interest of all Iraqi parties to enact a set of national laws to govern the development, […]
By Leanne Case, reporting from Istanbul. I’ve written a fair number of articles extolling the potential of Iraq to British business, I make no apologies for this and believe strongly in the future of Iraq. So do hundreds of international companies! A significant number of who attend the now numerous conferences and events aimed at […]
The managing director of the Iranian Central Oil Fields Company (ICOFC), Mehdi Fakour, reported of a new round of negotiations with Iraqi oil officials to achieve a ‘common language’ to expand cooperation on the development of shared fields, based on national interests of the two countries. In an interview with the Iranian news agency Shana, […]
Bids are invited from oil service companies to supply two workover rigs for the 4.1 billion barrel Halfaya oilfield. The tender from state-run Maysan Oil Company, along with the China National Petroleum Company (CNPC), French oil major Total, and Malaysian state firm Petronas, closes on Nov. 28, and the offer must remain valid for 90 […]
Northern Iraq’s Batna Oil Field in Nineveh Province has resumed production after 20 year stoppage, an official at Nineveh Oil Comission said on Tuesday, The official expressed the hope that production would exceed 2,000 barrels per day (bpd). “The comissioning of Batna Field, one of the oil fields in northwest Mosul’s Zummar town, stopped more […]
Iraq’s oil exports slipped in October to 1.9 million barrels per day from 2.021 million bpd in September, the head of the State Oil Marketing Organisation (SOMO) said on Monday. Reuters reports that Iraq exported an average of 1.492 million bpd from the southern oil hub of Basra and 408,000 bpd from the northern oilfields […]
