Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
Shares in Gulf Keystone rose 15% on Tuesday, following a 're-organisation of interests' in Iraqi Kurdistan - rumours also continue to circulate regarding a possible bid for the company from China. Gulf Keystone confirms that certain Production Sharing Contract ("PSC") amendments were approved and executed by the Kurdistan Regional Government (KRG) and all the other […]
Shares in WesternZagros Resources were up 4% in early trading, following an update on it's operations in Iraqi Kurdistan. The company reports that it has recovered an additional 1655 metres of drill string at the Kurdamir-1 well, with approximately 800 metres remaining in the well bore. The current operations have proven to take longer than […]
BPS Drilling has plans to open its operational office in the City of Erbil, located in the Kurdish Region of Iraq. BPS will open an operational office in the capital city of Erbil along with secure storage space to support its drilling operations. The company plans to include a full well test/early production facility as […]
Sterling Energy, the AIM listed independent oil & gas, exploration & production company with interests in the Middle East and Africa, has given an update on its activities at the Sangaw North exploration well, in Iraqi Kurdistan: Operations at the Sangaw North #1 exploration well have been halted following a failure of drilling rig equipment. […]
Associated Press reports that federal securities regulators are settling civil charges against two executives charged with bribing Iraqi officials for contracts to supply an oil processing chemical made by their company. The Securities and Exchange Commission says David Turner and Ousama Naaman will pay $1.35 million. It says they funneled $9.2 million to Iraqi and […]
A delegation from the U.S. Chamber of Commerce (USCC) arrived in Basra on Sunday to discuss investment projects and U.S. companies’ involvement with the province, according Max Haivanis, Senior Manager Middle Eastern Affairs. “A visit by USCC representatives to Basra is meant to set the stage for U.S. firms’ entry into business projects in the […]
By Ahmed Salih Al-Janabi - Amereller Legal Consultants (in association with MENA Associates). This article was originally published in Who's Who Legal, and is reproduced in full with their permission. For additional analysis on the status of this challenge, please click here. The Supreme Court of Iraq is currently considering the legality of the Rumaila […]
By Dr. Sami Shubber, founder of Hamourabi Office in Baghdad, Iraq. For more details about this case, please click here. 1. The Iraqi Ministry of Oil awarded a contract to BP and China National Petroleum Co. (SINOPEC) in 2009 for the development of the Rumaila oilfield. A lawsuit has been filed before the Iraqi Supreme […]
Gulf Keystone has announced the commencement of drilling operations on its Sheikh Adi-1 exploration well effective August 4, 2010. This is the first exploration well to be drilled on the Sheikh Adi Block immediately to the west of the Company's Shaikan Block, site of last year's discovery of the giant Shaikan oil field. The Company […]
Gulf Keystone has announced the results of further testing of the Butmah (1783m to 1814m) section of the Jurassic on its Shaikan-1 discovery well: Final production rates during this week's re-test were measured at 4650 bopd with an API gravity of 17.68 degrees and a gas oil ratio of 34 standard cubic feet per barrel […]
The spokesman of the Kurdistan Regional Government (KRG) has dismissed reports that a U.S.-Iraqi delegation will visit Kurdistan to investigate allegations of oil exports to Iran. Kawa Mahmoud, the KRG spokesman, told AKnews that even if the U.S. delegation arrives in the Region, the visit will be limited to issues concerning the formation of the […]
A memorandum of understanding signed with Iraqi officials calls for the import of as much as 300 million cubic feet (8.6 million cubic meters) of gas per day from Iran, an Iranian director said. Javad Oji, a managing director at the National Iranian Gas Co (NIGC), said an Iranian delegation traveled to Iraq at the […]
