Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
Iraq exported 1.823 million barrels a day of crude oil in June, down 4% on the 1.9 million barrels a day exported in May, the Iraqi Oil Ministry said in a statement issued on Monday. Dow Jones reports that Iraq exported in June an average of 1.44 million bpd from its southern terminals at the […]
An official spokesman of Basra province said Sunday that a delegation from Russian energy company Neftegaz Export has arrived to the city to discuss investment projects with the governor. Sheltagh Abboud received on Sunday the Deputy Director of Neftegaz Export, Vladimir Fumujev, and a delegation accompanying him, who were seeking a foothold in Iraq for […]
Basra International Fair Ground 25 - 28 November 2010 Iraq is opening its doors. International Basra Oil and Gas Conference & Exhibition will take its place as the first and foremost gas and oil exhibition of the region. Events will have support from Iraq Government. Exploring Iraq's true natural resources, modernizing its oil and gas […]
Basra's Governor, Shaltagh Abboud al-Mayyah, discussed the investment opportunities available in the province with a delegation representing the South Korean companies, according to a press release from the province’s information office on Thursday. “Governor Shaltagh received a South Korean delegation comprising the country's Ambassador to Baghdad and representatives of investment firms, for talks on means […]
On the pretext of drilling for oil, the North Oil Company (NOC) requires some Kurdish villagers around Kirkuk's Dubiz township to vacate their homes, and the First Deputy of the township suspects political intent behind the request, according to a report from AK News. The NOC has submitted a letter to Dubiz police to vacate […]
Malaysia's Petronas and Japan Petroleum Exploration (Japex) are planning to award a deal shortly to drill several wells at Iraq's untapped Garraf [Gharraf] oil field in southern Iraq, a company executive said. The consortium is planning to drill two appraisal wells at Garraf, in Dhi Qar province, starting in November, he said. "We have issued […]
Maysan will receive 50 billion Iraqi dinars [$42m], having been allocated one dollar for every barrel of oil produced from its fields, according to chairman of the Maysan Council. “After the Iraqi government’s approval to allocate one dollar for every oil barrel produced in the oil-producing provinces, Missan will receive 50 billion dinars this year,” […]
Despite a pledge by Iraqi Kurdistan to crack down on the flow of fuel being smuggled to Iran, the only real impediment truck drivers say they face are long lines that force them to wait for days to cross, according to a report from Reuters. Perhaps around 100 tanker trucks corralled into groups of 10 […]
Energy Risk reports that Moody's has raised its rating of Malaysian state-owned Petronas's A1 senior unsecured debt from negative to stable, despite the group's riskier business profile following a major acquisition of a large oil field in Iraq. "We expect the company's $20 billion capital expenditure for the Iraqi fields to be spread out over […]
An official security source in Iraqi Oil Intelligence said on Tuesday that four laptop computers were stolen from the legal department of the South Oil Company and were smuggled into Kuwait, and that the company didn’t take any legal action against those involved. According to the report from AK News, the source, who preferred anonymity, […]
The head of the investment and strategy committee of Dhi Qar provincial council, Ahmad Taha, announced that a new round of investment licenses will be awarded soon to foreign and Arab firms. The licensing round will include waste recycling, environment, electricity and gas stations projects. Al SumariaTV also reported that "oil refineries will be established […]
Markets hate uncertainty, but history has shown us that times of uncertainty create the greatest opportunities. Warren Buffett's famous saying, “be fearful when others are greedy, and be greedy when others are fearful”, is true whether referring to the stock market or to risk-taking in general. And Iraq is giving us plenty of risk and […]
