Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
Iraq is meeting with Royal Shell Dutch to finalise a draft of a $12 billion deal to develop a gas-structure project in southern Iraq, and may sign a deal by the end of this year, a senior Iraqi oil official told Dow Jones Newswires on Tuesday. "There is a meeting being held in Basra to […]
Iraq may earn $4.2 trillion in revenue from oil fields being developed by international companies after rights for production from the deposits were auctioned last year, Oil Minister Hussain al-Shahristani said. Reuters quotes the minister as saying that the fields, whose development rights were assigned after two bid rounds held last year, will produce 60 […]
The al-Iraqiya political coalition, which includes prime-ministerial candidate Ayad Allawi, has stated its objection to the outgoing government’s rounds of licensing gas and oil investments by foreign companies, regarding them as breaching the constitution and violating the law, according to a report from AKnews. This might expose the Ministry’s officials to legal accountability by the […]
Sri Lanka’s state-run oil company Ceylon Petroleum Corporation (CPC) has concluded talks with iraq's State Oil Marketing Organization (SOMO) to buy crude oil from Iraq. Speaking to the Asian Tribune , the Deputy Director General of SOMO, Majed Kadhim Yousif, who was in Sri Lanka to attend the seventh session of Sri Lanka- Iraq Joint Committee […]
Sonoro Energy (TSX-V: SNV) announced on Monday that it has formed a strategic alliance with Inglett & Stubbs International whereby Inglett will support the execution of certain operations in Salah ad Din, Republic of Iraq. Inglett has developed advanced design and building procedures that allow them to efficiently manage the most technically complex construction projects […]
Rt Hon Lord Howell of Guildford, Minister of State, Foreign & Commonwealth Office, UK, is to give the keynote address focusing on "Iraq Petroleum: the International Context" to begin the 3 day conference and workshop, Iraq Petroleum 2010, taking place in London at the Millennium Gloucester on 29 Nov-1 Dec 2010. The Rt. Honourable Lord […]
The Fletcher School of Law & Diplomacy, The Program on Southwest Asia and Islamic Civilization, Gordon Institute, and Institute for Global Leadership cordially invite you to attend a talk by Mr Nawzad Hadi Mawlood, the Governor of Erbil, the capital of the Kurdistan Region in Iraq: “Challenges and Opportunities for Redevelopment in Erbil, Iraq” By […]
U.S. oil giant ExxonMobil said on Friday it was on track to reach its initial production target in Iraq's West Qurna I oilfield next year, according to reports from Reuters. "ExxonMobil is moving forward in accordance with the contract timeline and we are on track with our plans to reach the initial production target in […]
Iraq has discussed with Egypt the issue of linking up to a gas pipeline running from Egypt through other Arab states as a way to export its gas, Reuters has reported. The Arab Gas Pipeline is aimed at supplying customers in Jordan, Syria, Lebanon and Turkey, and potentially Europe through Egypt. (Source: Reuters)
Oil prices in the first half of 2010 were higher than estimated by the IMF, but the volume of Iraq's oil exports remained well below projections. Export prices of Iraqi oil averaged $75 per barrel in the first half of 2010, compared to a budgeted price of $62.50 per barrel. Exports, however, averaged 1.88 million […]
The Kurdistan Regional Government's (KRG) Minister of Natural Resources, Ashti Hawrami, has welcomed Marathon Oil Corporation's entry into the Kurdistan Region oil and gas sector, saying that such an experienced company will be “a valuable partner in developing the resources of our Region to the maximum benefit of the people of Kurdistan and Iraq, in […]
Iraq has awarded three of its established gas fields to foreign consortia in the third stage of an energy sell-off, as the country races to supply gas to local power plants and to export markets. The three fields, in the south, centre and far west of Iraq were sold at or slightly below the price […]
