Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
Foster Wheeler AG (Nasdaq: FWLT) announced today that its Global Engineering and Construction Group has been awarded a project management consultancy (PMC) services contract by South Oil Company (SOC) for the Iraq Crude Oil Export Expansion Project onshore in southern Iraq and offshore in Iraqi waters. SOC is a company under the Ministry of Oil […]
Russia's Lukoil and Norway's Statoil have started issuing tenders for the multibillion project to develop Iraq's supergiant West Qurna Phase 2 oil field in southern Iraq, a person familiar with the plans said Sunday, as reported by Reuters. The "first tender is a 3D seismic survey at the field", the person said. A second tender […]
Iraq's northern Kurdish region is cracking down on fuel oil smuggling through the area and across Iraq's borders, the government of the semi-autonomous region said on Sunday. The Kurdish Regional Government (KRG) issued a statement in response to a New York Times story on Friday that said hundreds of millions of dollars worth of crude […]
Iraq's oil minister said on Saturday he sees no impact from the massive oil spill at a BP well in the Gulf of Mexico on Iraq's current or future projects to develop its giant oilfields. BP has promised to pay damages to those hurt by the worst oil spill in U.S. history and has committed […]
"The queues at gas stations in Baghdad were the result of the shortage of electricity and the high temperatures," the spokesman of the Iraqi Oil ministry said today. "The high temperatures prompted citizens to store petrol for their home generators," Assim Jihad said. "The Ministry is regularly providing the stations with fuel and gasoline," he […]
On July 1, the operational management of Iraq's Rumaila project was officially transferred to Rumaila Field Operating Organization (ROO), a consortium led by CNPC, BP and Iraq's South Oil Company. On July 3, BP, CNPC and Iraq's South Oil Company held a ceremony at Basra to mark the transfer. More than 130 representatives from the […]
A delegation from Bahraini investment companies met with the chairman of Basra Council on Thursday to discuss investment in the energy sector in the southern city, according to a report from Aswat al-Iraq. “Chairman of the Basra council Jabar Amin Jaber received on Thursday a delegation representing Bahraini investment companies in the energy sector,” said […]
The 12-member Organization of the Petroleum Exporting Countries' (OPEC) crude oil production output averaged 29.12 million barrels per day (b/d) in June, down 160,000 b/d from an estimated 29.28 million b/d in May, according to a just-released Platts survey of OPEC and oil industry officials and analysts. Lower volumes from Iraq and Nigeria accounted for […]
Basra's Governor, Shaltagh Abboud al-Mayah, held discussions on Thursday with a company regarding projects in the oil sector, a media source said. “Al-Mayah met with a delegation from the Top Oilfield company to discuss the maintenance of oil rigs in Basra,” the source told Aswat al-Iraq news agency. “The meeting also addressed the local government’s […]
China didn't take part in the U.S.-led invasion of Iraq or the bloody military battles that followed. It hasn't invested in reconstruction projects or efforts by the West to fortify the struggling democracy in the heart of the Middle East. Workers at al-Waha Oil Co. in the southern Iraqi town of Wasit are part of […]
Iraq's crude exports in June averaged 1.9 million barrels per day, the same level as the previous month, the head of the State Oil Marketing Organisation said. Average exports from the southern oil hub of Basra reached 1.45 million bpd while exports from oilfields in the north around Kirkuk averaged 450,000 bpd, SOMO head Falah […]
WesternZagros Resources Ltd has successfully retrieved the upper 450 metres portion of the parted drill string at the Kurdamir-1 well. Following thorough testing of the blow-out preventers, snubbing operations are now underway to recover the remaining 2,400 metres of drill string. This operation is expected to take approximately 20 days. Total costs of Kurdamir-1 to […]
