Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
PetroChina , the world's second-most valuable oil and gas producer after Exxon Mobil Corp, said on Thursday that it wants to further strengthen relationships with Iraq as it looks for new sources of oil. It is also focusing on Venezuela and Kazakhstan. The company was also in discussions for cooperation agreements with BP in the […]
Iraq, site of the world’s third-largest oil reserves, will hold a third bidding round for gas fields which will take place on October 1, an Oil Ministry official has confirmed, according to a report from Bloomberg. “Definitive model contracts and final tender protocols will be ready on September 10, and the bidding process will be […]
Kurdistan Regional Government (KRG)’s prime minister promised Kurdish parliamentarians during a meeting on Wednesday to allow them access to all documents related to the KRG’s controversial oil contracts, exports and revenues, said the head of the major opposition group in Kurdistan parliament. In a meeting intended to mend fences with opposition groups in the parliament, […]
Shares in Heritage Oil, which is actively drilling in Iraqi Kurdistan, were up 1.3% this morning following the announcement of interim results: HERITAGE OIL ANNOUNCES 2010 INTERIM RESULTS Heritage Oil Plc (LSE: HOIL), an independent upstream exploration and production company, announces the publication of its interim results for the six months ended 30 June 2010. […]
A senior official at Shell said that Iraq is losing $50 dollars per second, more than $4 million a day, as a result of flaring the gas associated with oil production in the province of Basra. The company's Vice-President for the Middle East and North Africa, Mounir Bouaziz, reportedly said his company was currently awaiting […]
Dr. Ali al-Obaidi, who has been in charge of Iraq's Baiji refinery since 2007, has reportedly resigned from his position, having successfully slashed the level of theft from the facility. He had initially been installed as part of a joint U.S.-Iraqi corruption crisis team. According to Iraq Oil Report, the man credited with reducing theft […]
Basra International Oil & Gas Conference and Exhibition 25–28 November 2010 International Exhibition Center, Basra – IRAQ Our participants has passed 100! Why Exhibit Have a key role in rebuilding of Iraqi Oil & Gas Sector. Build a network of new and productive business contacts and establish local partnerships which is important to do business in […]
KBR (NYSE: KBR) today announced that it has been awarded two contracts by the Republic of Iraq Ministry of Oil through the South Refineries Company. KBR will provide licensing and basic engineering services for the construction of Fluid Catalytic Cracking (FCC) and Solvent Deasphalting (SDA) units at the planned grassroots Maissan Refinery in Maissan [Maysan], […]
Kuwait has signed an agreement to share oil from cross-border fields with Iraq and is waiting for its northern neighbour to reciprocate, the emirate’s oil minister has said, according to a report from The National. The deal could help to smooth the often thorny relationship between the two countries 20 years after Saddam Hussein’s armies […]
By Jody Ray Bennett for ISN Security Watch In hopes of making good on a campaign promise just months before the November elections, President Barack Obama successfully oversaw the last of combat troops depart from Iraq just a few weeks shy of the 31 August deadline. While 50,000 soldiers will remain in Iraq as ‘advisors,’ […]
Revenue from Iraq's crude oil exports increased 3% to $4.009 billion in July, compared with $3.889 billion in June, the Iraqi oil ministry said in a statement Tuesday. It said Baghdad sold its crude oil at an average price of $71.21 a barrel in July (versus $71.10 per barrel in June). July oil revenue brought […]
Iraq has intensified efforts to resolve its debt problems with neighboring Kuwait, in order to end the international restrictions imposed on the country following the invasion of Kuwait two decades ago, said Iraq’s deputy foreign minister. Iraq was placed under United Nations’ Chapter 7 status in 1991 after Saddam Hussein invaded Kuwait. Speaking to AKnews, […]
