Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
During the visit of Iraqi Prime Minister Nouri al-Maliki to Syria, the Iraqi delegation signed an agreement to extend an oil pipeline through the Syrian territories, Khaled al-Assadi told Aswat al-Iraq news agency. Al-Maliki had arrived in Damascus on Wednesday to lead a high-profile delegation on an official visit to Syria. He held talks with […]
Halliburton (NYSE: HAL) has been awarded a wellwork integrated services contract by ExxonMobil Iraq Ltd. for refurbishment of wells in the West Qurna (Phase 1) field in southern Iraq. Halliburton will provide on-site logistics and technical support for both rigless and rig-assisted workovers. Other services provided by Halliburton include provision of a workover rig, coiled […]
KCA DEUTAG, the international drilling and engineering contractor, announced that it has commenced operations in Iraq, with the deployment of one rig in the north of the country and a second being mobilised shortly. KCA DEUTAG established its presence in the country with its first rig, now operating in Northern Iraq. The company’s second Iraqi […]
The recent declaration by Hunt Oil CEO Ray Hunt that his company was willing to work with partners in Iraq to develop its oil and gas assets in Kurdistan underlines the Region’s position as a likely new hotbed for M&A activity, according to a report from mergermarket.com. Hunt’s comments about oil and gas sector partnerships […]
Reuters reports that Russia is talking directly with Iraq's oil-rich Kurdistan region about investment opportunities there, Russia's ambassador to Iraq said on Tuesday, a strategy that could irritate Iraq's central government. Baghdad is at odds with the semi-autonomous northern region and has strongly opposed oil deals the Kurds have signed independently with foreign companies. The […]
The deputy chairman of Basra's local council, Ahmad al-Sulieti, met representatives of the Jordanian al-Barq company to discuss the possibility implementing projects in the energy sector, according to a statement of his office reported by Aswat al-Iraq. (Source: Aswat al-Iraq)
Oil Minister Hussein al-Shahristani has signed a Memorandum of Understanding on strategic cooperation in oil and gas field with his Syrian counterpart Sufian Allaw, according to Syrian news agency (SANA). “In the presence of Prime Minister Nouri al-Maliki and his Syrian counterpart, Naji Otri, a Memorandum of Understanding on strategic cooperation in the field of […]
Russia’s Lukoil aims to produce 120,000 barrels of oil a day at Iraq’s field by the end of 2012, and is seeking customers for the fuel in Asia, according to a report from BusinessWeek. The Moscow-based company plans to begin selling crude from the field in 2013, Paul Hawkins, director of supply and trading […]
Delays in the Nabucco gas pipeline project, which re reported on in recent days, are not a problem because there has been a dip in European gas demand due to the economic downturn, the chief executive of shareholder OMV said on Tuesday at the Reuters Central European Investment Summit in Vienna. The 7.9 billion euro […]
Reuters reports that the Chief Executive of Weathford International, one of the largest suppliers of goods and services to oil companies, said the oil services industry needed more consolidation. Weatherford is currently operating in Iraq's al-Bazerkan oilfield in Amara. "We need to get larger," said Bernard Duroc-Danner, citing the fact that oil services companies face […]
WesternZagros Resources, the Canadian-listed oil and gas exploration company with operations in Iraqi Kurdistan, reported on its operations this morning. The TSX market has not yet opened, but shares in WesternZagros have risen 50% over the past week. The text of the company's statement follows:
Just a week after Iraq finally re-stated its oil reserves, jumping from fourth to third place ahead of Iran, the Iranians have decided to re-state their oil reserves. And by a strange coincidence, they have re-taken their place ahead of Iraq. The moves comes ahead of an OPEC meeting on Thursday; oil reserves and production […]
