Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. On Thursday, Saudi Arabia, Russia, Iraq, United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman held a virtual meeting on the sidelines of the 38th OPEC and non-OPEC Ministerial Meeting (ONOMM). Objective: Reinforce precautionary efforts. Support stability and balance in the global oil markets. Key Decisions: Extension of April 2023 Adjustments: Adjustment Volume: […]
By John Lee. Iraq's Deputy Minister of Oil for Refining Affairs, Hamed Younis, reaffirmed Iraq's commitment to collaborating with reputable global companies to advance its refining sector. This aligns with the government's strategic program and directives from Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayan Abdul-Ghani. During a meeting with Honeywell's Middle […]
By John Lee. UK-based Fulkrum, which describes itself as "a leading inspection, expediting, auditing and technical staffing service provider," has reportedly won a multi-million-dollar contract to provide surveillance services for a major gas hub development project in Iraq. According to a report from Oilfield Technology, the company has also registered a new entity in Basra […]
By John Lee. Shares in Genel Energy closed down more than 20 percent on Tuesday, following the company's announcement on Monday that a British court has dismissed its claim for damages from the Kurdistan Regional Government (KRG). The company was seeking damages for its loss of the rights to develop the Bina Bawi and Miran […]
By Herman Wang and Lauren Holtmeier, for S&P Global. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Trump may target Iraq's oil sector with sanctions to counter Iranian influence: sources US President-elect Donald Trump's planned maximum pressure sanctions campaign on Iran may extend to […]
By John Lee. Genel Energy has announced that a British court has dismissed its claim for damages from the Kurdistan Regional Government (KRG) for loss of Genel's rights to develop the Bina Bawi and Miran fields in Iraqi Kurdistan. In a statement made after the close of trading in London on Monday, the company said […]
From the Iraq Britain Business Council (IBBC): Professor Frank Gunter outlines what Iraq needs to do to support the private sector and IBBCs Shwan Aziz on Iraq's energy opportunities via Iraq 24 channel Professor Frank Gunter Economics professor at Lehigh University and long-term observer of Iraq's economy, is launching an 'Ease of Doing business 'report for […]
By John Lee. British oil major BP aims to finalise an agreement to develop Iraq's Kirkuk oil field by February, CEO Murray Auchincloss (pictured) announced at the Energy Intelligence Forum. The memorandum of understanding (MOU) signed in August with Iraq's Oil Minister covers redeveloping the 20-billion-barrel field and adjacent sites, including gas, solar, and exploration […]
By John Lee. Iraq's Ministry of Oil has announced finalised oil export volumes for October, but has again not disclosed the value of oil exports for the month. This continues the practice of delayed or missing oil export data from the Ministry. Total exports of crude oil: 103,145,225 barrels. Exports from the oil fields in […]
By John Lee. Iraq's Electricity Ministry has reported a complete halt in Iranian gas supplies to Baghdad, central Iraq, and the Middle Euphrates region for 15 days due to maintenance. This disruption has resulted in a power loss of 5,500 MW. According to a statement from the Ministry, while Iran was expected to supply 25 […]
By Ameer Al-Auqaili, for The Diplomat. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Why Did Iraq Suspend a $10 Billion Deal With China? The decision to stall a massive oil-for-infrastructure agreement marks a turning point in Middle East power dynamics. The full article […]
By Simon Watkins for OilPrice.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Is The U.S. Going To Bring This Multi-Billion Iraq Project To Fruition? Among the many projects in Iraq's energy sector that could each make it much-needed billions of dollars a year […]
