ExxonMobil (XOM.N) and its partner Royal Dutch Shell (RDSa.L) have not been affected by a delay in the formation of Iraq's new government, and work on their West Qurna Phase One project is moving ahead, an Exxon executive said on Monday. Exxon expects to tender later this year to drill new wells in the supergiant […]
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.
Gazprom to Drill New Wells in Badrah
A group led by Gazprom Neft aims to start drilling in Iraq's Badrah oilfield next year as part of its plan to reach 15,000 barrels per day by the last quarter of 2013, a company executive said yesterday. Gazprom and its partners plan to issue a tender this month to drill three to four new […]
Gulf Keystone Updates on Iraqi Operations
On Monday, Gulf Keystone announced the arrival of the initial loads of production facility equipment to the Shaikan field location and the commencement of the rig move by the AOS Discover-1 drilling rig to the Sheikh Adi-1 exploration well site. The first pre-packaged production equipment units have arrived at the production facility construction site near […]
Tags: Gulf Keystone
Top Oil Decision Makers to Meet in London
The Iraq Petroleum 2010 conference will bring together high profile speakers, senior decision makers, leading businessmen, policy makers and advisors to debate key strategic issues, share expertise and exchange views. As Iraq plans to quadruple its oil production and the second round of bidding is complete, this year we will be focusing on longer term […]
Tags: Conference, Oil & Gas
Visa Process for Oil Expats to be Streamlined
Iraq’s oil minister, Hussain al-Shahristani, has addressed some of the complaints by oil majors about bureaucracy hampering their efforts to bring staff and equipment into the country, according to a report from Reuters. Getting visas for oil industry professionals entering Iraq to work on oilfield development contracts ranks as a major hassle facing oil companies […]
Kuwait Gives Initial Approval for Oil Border Crossing
Kuwait has given initial approval to open a special border crossing with neighbouring Iraq for international oil firms working there, an Iraqi oil official said on Monday, according to a report from Arab News. “There is kind of initial approval from Kuwait’s side,” Abdul-Mahdy al-Ameedi, director of the Oil Ministry’s licensing office, told Reuters. “This […]
Najaf Refinery Increases Production
The Najaf refinery increased production of oil derivatives by 32% in the first half of 2010, compared to the same period last year, according to the refinery’s director. “The refinery produced in the first half of 2010 33.4 million liters of Kerosene compared to 26 million liters in the same period last year, an increase […]
Tags: Najaf, Refineries
Oil Export Facilities to Cost $50 Billion
Iraq’s plans to expand its oil pipelines and other export facilities will cost $50 billion, the Middle East Economic Survey reported today, without saying where it got the information. As part of this program, the country intends to build a pipeline that would carry heavy oil from the Majnoon, East Baghdad, Qayara and Najma fields […]
Tags: Oil & Gas
Occidental, Pertamina Consider Sonangol's Iraq Deals
US oil major Occidental Petroleum Corp and Indonesian state oil firm Pertamina have shown an interest in taking a stake in Sonangol's two Iraqi oilfield development projects, a company official said on Sunday. "Our proposal will be for Sonangol to have 45 per cent in Najmah and Qayara [Qaiyarah]," Sonangol executive J. da Graca Luis […]
BP to Raise Iraq Output by 100,000 bpd
British oil major BP, along with its partner China National Petroleum Corp, plans to increase production from Iraq's Rumaila oil field by more than 100,000 barrels a day at the beginning of next year, a BP executive said Sunday, according to a report in the Wall Street Journal. "Initial production will go up by 10% […]
Saudi Firm Eyes Oil Investments in Iraq
Saudi industrial and energy services company Taqa (TAQA.AD) is considering investing $1.6 billion in pipelines and $133 million in offshore platforms in Qatar and Iraq, an Arabic newspaper said on Friday. Officials from Taqa told the Saudi-owned daily Asharq al-Awsat they were considering investing in the gas industry in Qatar and the oil industry in […]
Iraq Expects 60,000 bpd Output from al-Ahdab in 2011
Iraq expects the CNPC-operated al-Ahdab oilfield to have an initial production rate of 60,000 barrels per day from July 2011, Deputy Oil Minister Abdul Kareem Luaibi said on Sunday. Al-Ahdab was the first major oilfield development contract awarded by the Iraqi government after the 2003 US-led invasion when it agreed to revive a Saddam Hussein-era […]