Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
China's CNPC and its partners have invited bids from energy companies to supply a liquefied petroleum gas (LPG) compressor unit for the 4.1 billion-barrel Halfaya oilfield, according to a report from Reuters. This is in addition to the tenders we reported on last week. State-run Maysan [Missan] Oil Company has invited bidders to supply and […]
Iraq's crude oil exports fell in August to 1.789 million barrels per day, a source at the Iraqi Oil Ministry said on Tuesay, according to Reuters. Average exports from the southern oil hub of Basra reached 1.45 million bpd, while exports from oilfields in the north around Kirkuk averaged 339,000 bpd. A combination of attacks […]
We reported yesterday on Vast Exporation's Qara Dagh operations in Kurdistan. Groundstar Resources (TSXV: GSA), Vast's partner in the project, have now given their take on the situation: Qara Dagh-1 well is drilling 12 1/4 inch hole at about 2,200 meters. The well was spud on 12 May 2010 with a planned total depth of […]
Iraq will supply crude to two Asian term buyers at between 5 percent and 10 percent below contracted volumes for October, compared with near full volumes for September, traders said. (Source: Tehran Times)
Gulf Keystone (LSE: GKP), the independent oil and gas exploration company focused on exploration in the Kurdistan region of Northern Iraq, has announced its interim results for the six months to the end of June: Interim Results for the six months ended 30 June 2010 HIGHLIGHTS Financial Summary · Loss after tax $3.1 million (1H09: […]
A former Iraqi oil minister says the country needs a “radical revision” of its current oil policy in order to adapt to the new changes in the world. Speaking to AKnews, Ibrahim Bahr al-Ulum said, “Despite efforts by the oil ministry to raise the level of oil production, Iraq still lags behind other oil-producing nations.” […]
Vast Exploration (TSX-V: VST) has issued a progress update on the drilling of its Qara Dagh -1 exploration well, and announced the appointment of General John P. Abizaid to the Advisory Board of the Company. The Qara Dagh Well was spud on 12 May 2010 with a planned total depth of 3,600 to 4,000 meters. […]
In an interview with AKnews on Friday, the oil products director of north Iraq, Mohammed Ahmed Zebari, shared his vision for the country's oil prospects. Zebari maintained that if the Kurdistan Regional Government (KRG) concentrated on improving the two refineries of Kavragosk and Baziyan, the two could provide the required petrol for the whole Region […]
Halliburton Co. and KBR Inc. must face lawsuits brought by military personnel and contractors allegedly harmed by contaminated water and toxic emissions from burning waste in Iraq and Afghanistan, a judge has said. U.S. District Judge Roger Titus in Greenbelt, Maryland, who is overseeing 43 lawsuits on the matter, yesterday rejected the companies’ claims of […]
Petronas, the Malaysian state oil firm, has agreed to train 60 Iraqi oil engineers to help it develop the Gharaf oilfield. The engineers will attend an intensive 6-month course in Malaysia and will then be sent back home to supervise the company’s operations, according to a report from Azzaman. Petronas and Japan Petroleum Exploration Co […]
Iraq's oil ministry announced on Friday that it would begin drilling for oil in the southern Gharraf oil fields by the end of the year. Officials said initial production levels of 50,000 barrels per day from eight oil wells are expected. Malaysia's state-owned oil company Petronas and the Japan Petroleum Exploration Company (Japex) signed a […]
The Diwaniya province has achieved revenues of around ID2 billion [$1.7m] from refining oil. “These revenues are for the year 2010,” a local source told Aswat al-Iraq news agency on Thursday. He explained that the amount is not big or important to the province. “The Iraqi law has not given Diwaniya oil revenues as other […]
