Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
Iraq exported over 57 million barrels of oil in July, an average of 1,850,000 barrels per day, said Iraq’s deputy oil minister on Sunday. Speaking to AKnews, Mutasam Akram said the country’s oil exports had decreased by around 50,000 barrels a day during the month of August. In May, the country exported over 85 million […]
U.S. firm Weatherford embarked on drilling a new oil well in eastern al-Amara city on Sunday, as part of a $224 million [262 billion Iraqi dinars] deal to drill 20 wells in 0rder to increase oil production, said Missan Oil Company’s information director. “Weatherford started drilling the new well in the al-Bazrakan oilfield, (70 km) […]
Iraq's state-owned North Refineries Company yesterday said it had re-started production at its Baiji oil refinery, and was looking to boost production levels to 80 per cent to make up losses after a shutdown, according to a report from Gulf Daily News. The refinery normally operates at 70pc of its capacity. An official at the […]
Gunmen robbed the crews of four ships anchored off Iraq's southern oil hub of Basra last week, in Iraqi regional waters patrolled by the U.S. Navy, a Navy official said on Sunday. The attackers targeted the Antigua-flagged Arminia, North Korea's Crystal Wave, Syria's Sana Star and the American ship Sagamore last Sunday and took personal […]
Following our report of a guerrilla attack halting the transport of oil through the Kirkuk-Ceyhan pipeline, news agencies report the resumption of oil flow to the port through the second pipeline. Oil flow was restored to 350,000-400,000 barrels per day, the same rate as before the bombing, said an official with Iraq's North Oil Company […]
ShaMaran Petroleum Corp. (TSX VENTURE:SNM) has announced that the Company has entered into an agreement with the Kurdistan Regional Government of Iraq ("KRG") to amend the Pulkhana Block 10 and the Arbat Block Production Sharing Agreements ("PSC"). The amendments relieve the Company of its contractual requirement to allot 150 million common shares of ShaMaran for the […]
Baker Hughes (NYSE: BHI) announced it has signed a three-year strategic alliance with Iraq’s South Oil Company (SOC) to provide technical services to SOC’s wireline logging department in Burj Esya, Basra south Iraq. Under the terms of the technical services agreement (TSA), Baker Hughes will supply wireline technologies to SOC and other Iraqi oil and […]
WesternZagros Resources Ltd. (TSX VENTURE:WZR) ("WesternZagros" or "the Company") provides its results for the period ended June 30, 2010, key highlights, and activities to date. During the second quarter, the Company continued to drill the Kurdamir-1 well sidetrack. At a depth of 3,214 metres the well encountered high-pressure sour gas which resulted in well control […]
Iraq is starting the holy fasting month of Ramadan in blistering summer heat: up to 49 C (120 F) in places! It has been a hot week for oil news too: The Korea National Oil Corp (KNOC) hits oil in the Bazian and Sangaw North blocks in Kurdistan; Dana Gas has increased gas its production […]
Dana Gas PJSC, the Middle East’s largest regional, private sector, natural gas company, has announced its financial results for the quarter ended 30th June 2010. Revenue from the sale of hydrocarbons increased to AED 428 million, with gross profit reaching AED 179 million. These figures represent increases of 41% and 84% respectively, compared to the […]
A bomb attack stopped the export of oil through the Kirkuk-Ceyhan pipeline on Tuesday, and killed two people and wounded a third after their vehicles caught fire on a road that runs alongside the link. Reuters, citing a spokeswoman for Botas, Turkey's state-run pipeline operator, reported on Wednesday evening that "the fire continues, and the […]
2009 was a momentous year for Iraq’s oil and gas sector, for the first time in more than three decades, two bidding rounds took place. What was on offer? Development of just some of the countries prized oil and gas fields. In a country where investment from the world’s IOCs is vital to its development […]
