Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. The Japan International Cooperation Agency (JICA) signed a $388-million loan agreement with Iraq on Sunday, to provide Japanese ODA loan for the sixth phase of the Basrah Refinery Upgrading Project. In a statement, JICA said: "This project aims to improve the quality and productivity of petroleum products, reduce the supply-demand gap, decrease […]
Almas Group: Supporting Iraq's Oil and Gas Sector through Specialized Logistics The oil and gas sector is key to Iraq's economic growth, generating significant revenue and development. As the industry grows, efficient supply chain solutions are essential for improving production and operations. Almas Group plays a crucial role by offering specialized logistics and supply chain […]
By John Lee. Iraq's Ministry of Oil has announced the commencement of drilling the 100th well in the East Baghdad Field (Southern Zone). Operated by Midland Oil Company and EBS Petroleum, a body registered in Iraq to conduct the petroleum operations on behalf of China's ZhenHua Oil, this marks Iraq's first horizontally drilled well in […]
By John Lee. Iraq's Minister of Oil, Hayan Abdul-Ghani, has met with members of the Parliamentary Finance Committee, led by Chairman Atwan Al-Atwani, to discuss resuming oil exports from the Kurdistan region via the Iraq-Turkey Pipeline (ITP) and the Turkish port of Ceyhan. The meeting focused on strengthening cooperation between the Ministry of Oil and […]
By John Lee. The Iraqi Ministry of Planning, in collaboration with the Ministries of Oil and Industry and Minerals, has launched a feasibility study for the strategic Al-Nibras [Nebras] Petrochemicals Project in Basra. Consultancy firm KBR has been appointed to conduct a comprehensive technical and economic review to map an optimal implementation path, building on […]
By John Lee. The Iraqi Drilling Company (IDC) has successfully drilled and rehabilitated four new oil wells in the Zubair oil field in Basra. The Deputy Director General of the company, Kazim Habash Khalif, said technical teams completed the drilling of a 3,598-meter well for the Zubair Field Operating Authority, boosting field production capacity. Three […]
By John Lee. Shares in Genel Energy closed up over 6 percent on Tuesday, after the company said it, "continued optimising cash flows, evolving our capital structure and originating and maturing opportunities to acquire new assets that add reserves and diversify our cash generation geographically." In its trading and operations update for the third quarter […]
By John Lee. The Deputy Minister of Oil for Gas Affairs, Mr. Ezzat Saber Ismail, announced that North Gas Company's investment in associated gas has reached 410 million standard cubic feet (MMSCF). During his field supervision of scheduled maintenance at the NGC facilities in Kirkuk, Mr. Ismail said the company is producing around 410 MMSCF […]
By John Lee. Basra Oil Company (BOC) has opened the first phase of a new fuel depot at the West Qurna 1 field. The depot, with a storage capacity of 800,000 liters, was opened by Mr. Asaad Aboud, Director of the West Qurna 1 Field Operations. Mr. Aboud explained that the current storage capacity of […]
By John Lee. UAE-based Dana Gas has announced its financial results covering nine months to 30th September 2024. Regarding the company's operations in the Kurdistan Region of Iraq, it said: "Dana Gas and Pearl Petroleum (Pearl) are fully committed to safely and efficiently resuming the KM250 project. Following the termination of the previous EPC contract, […]
By John Lee. The Deputy Minister of Oil for Extraction, Mr. Bassem Mohammed Khudair, met with Mr. Fan Jianbang, CEO of the Chinese company Geo-Jade Petroleum, along with his accompanying delegation, on Sunday. Discussions focused on the development of the Naft Khana oil field in Diyala Province, operated by Geo-Jade on behalf of the Midland […]
By John Lee. Iraq's State Company for Oil Projects (SCOP) has laid the foundation stone for the Wasit Oil Authority building, a project aimed at enhancing administrative and organizational performance within the Midland [Middle] Oil Company. The project spans 6 dunams (approximately 15,000 square meters) and includes a three-story building covering 1,100 square meters, along […]
