Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
The following update on output at Iraq's oilfields comes from Early Warning, citing a report from UPI: Rumaila: Iraq's biggest field with the equivalent of 17.8 billion barrels of oil. That makes it the fourth largest oil field in the world. It contains around 15 percent of Iraq's oil. It is operated by BP and […]
As we predicted in our report last week, Iraq's acting Electricity Minister, Hussain al-Shahristani, asked investors on Saturday to compete to build four new power plants to help the country meet it increasing electricity demands. According to Bloomberg, the Minister promised a healthy profit for the winners. At a meeting of 33 local and international […]
Reuters, quoting 'senior officials', reports that Iraqi Prime Minister Nuri al-Maliki will unveil his new cabinet on Monday, retaining the oil minister who forged ambitious plans to turn the war-ravaged country into a top global oil producer. Oil Minister Hussain al-Shahristani, a Shi'ite and former nuclear scientist, will be a key member of the new […]
The Iraqi Prime Minister, Nouri al-Maliki, allegedly told U.S. diplomats that oil giant Chevron has been in talks with Tehran about developing a cross-border oilfield with Iraq, according to a cable released by WikiLeaks. Dow Jones reports that the cable, sent by the U.S. Embassy in Baghdad, summarizes a conversation between the U.S. diplomats and […]
Wednesday's United Nations Security Council decisions removed, among other things, the restrictions on Iraq's importation of nuclear technology. But how will Iraq use this new freedom? A report from Reuters suggests some options: Nuclear Energy The UN move allows Iraq to re-develop nuclear reactors, but Science and Technology Minister, Raed Fahmy, said a full study […]
WesternZagros Resources Ltd. (TSX VENTURE:WZR) has announced successful test results at the Kurdamir-1 well, which proves the existence of an oil column in the Oligocene reservoir. Shares in the company rose more than 14% in early trading. Sproule International Limited. ("Sproule") has completed an independent audit which confirms a 327 metre combined gas and oil […]
Iraq's Ministry of Oil has just issued a tender for the supply of ten 30-ton truck cranes. Bids should be received by 28th December 2010. Please click here to see full details.
The United States hopes the U.N. Security Council will lift restrictions on the import of nuclear technology to Iraq, even though Baghdad has not ratified a U.N. agreement on tough atomic inspections, according to a report from Reuters. At a meeting on Wednesday to be chaired by U.S. Vice President Joe Biden, the 15-nation Security […]
Iraq's Ministry of Oil has announced that it has extended the deadline for the submission of bids for the supply of pipefittings, valves, and accessories to its Karbala depot. Bids will now be accepted up to 28th December, 2010. Original tender document Details of extension to deadline
Scottish engineer Weir Group (LSE: WEIR) has agreed to plead guilty to two charges of breaching UN sanctions in connection with a number of UN sanctioned Oil for Food programme contracts awarded between 2000 and 2002. Following the guilty plea, the Company will be subject to a confiscation order in respect of its benefit from […]
Rumours continue to fly regarding the fate of Heritage Oil (LSE: HOIL), the oil explorer with operations in Iraqi Kurdistan (pictured), which is said to be the target of takeover bid. The British Daily Mail newspaper reported last week that Malaysia’s state-owned oil and gas company, Petronas, was interested in the company, but Petronas denied […]
The development of Halfaya oilfield in southern Iraq’s Maysan province shall insure enough gas for Kahla’a power station, according to the Director-General of Missan Oil Company, who said that the gas produced from the oil field would exceed 60 million cubic feet. “The development of the Halfaya field shall secure the needs of the Kahlaa […]
