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 […]
Archive | Iraq Oil & Gas News
Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
Tags: Mohammed Ahmed Zebari, Refineries
Halliburton and KBR Sued Over Iraq Contamination
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 to Train Iraqi Engineers for Gharraf Oilfield
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 […]
Gharraf Drilling to Start by December
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 […]
Diwaniya Achieves Just $1.7m from its Oil Refinery
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 […]
New Iraqi Oil Prices for October
Iraq’s State Oil Marketing Organisation (SOMO) has raised the official selling prices for its Basra Light and Kirkuk crude grades for October loading to the U.S. and Europe. In common with some other countries, Iraq’s oil is priced relative to regional benchmark prices: * For shipments to US, contracts are priced are relative to the […]
New Tenders for Halfaya Oilfield
China's CNPC and its partners Total and Petronas have invited oil service companies to bid for the redevelopment of 10 oil wells in the 4.1 billion-barrel Halfaya oilfield. Bidders are invited to provide acid stimulation services on 10 wells within a one-year period to maximize the inflow area of the wellbore in oil and gas […]
Committee Set Up to Resolve KRG/Baghdad Disputes
The Iraqi government has formed a committee to discuss its numerous disputes with the Kurdistan Regional Government (KRG), AKnews reports. Salam Yaseen, an economic adviser to the Iraqi government, told AKnews that the committee will discuss a range of issues with the Kurds including the oil and gas exports by the KRG that recently caused […]
Iraq's reconstruction: Strategy and players
By Tariq Abdell, Founder & Chairman, Mesopotamia Insight. The opinions expressed here are those of the author, and do not necessarily reflect the views of Iraq Business News. The end of U.S. combat operations in Iraq presents a unique opportunity for a new beginning in U.S.- Iraq’s relationship. However, given Iraq’s crippling challenges and U.S. […]
New Quarterly Production Targets for Basra's Oilfields
Iraq's South Oil Company, working with the IOCs, has set quarterly production targets for the country's southern oilfields for 2011, according to documents obtained by Reuters. Production is targeted reach an average of nearly 2.3m bpd by Q4 2011. Oilfields Q1 Q2 Q3 Q4 Rumaila 1,175,000 1,201,000 1,226,000 1,250,000 West Qurna 1 260,000 270,000 285,000 […]
Tags: Basra News, Garraf, Gharaf, Gharraf, Iraq Oil Production News, Luhais, Majnoon, Nahr Bin Umar, Nassiriya, Ratawi, Rumaila, South Oil Company, targets, Tuba, West Qurna Oilfield News, Zubair
S African President Quashes Iraq Oil Corruption Probe
South African President Jacob Zuma said there are no legal means to prosecute traders for paying bribes to win Iraqi oil contracts under the United Nations’ oil- for-food program that operated before 2003, according to a report from Bloomberg. Zuma closed an investigation into trader Sandile Majali, citing loopholes in local laws. Majali was named […]
Shahristani Wants OPEC To Maintain Output
Iraqi Oil Minister Hussain al-Shahristani sees no reason for OPEC to reconsider its current production levels at its next meeting, due to be held in Vienna on 14th October. According to report from Reuters, he sees no big demand for crude and says current production levels should be maintained, but OPEC should hold an extraordinary […]
Tags: OPEC, Shahristani