Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
Negotiations for renewing the Kirkuk-Ceyhan pipeline agreement, which expires at the end of March, began in 2009 and were sealed this month by Iraqi Deputy Oil Minister Ahamd al-Shamma and Turkish Energy Minister Taner Yildiz.
Chinese firm Daqing and a joint venture between Schlumberger and the state-owned Iraq Drilling Co are each being awarded contracts to drill 21 new wells, while Weatherford International was awarded seven new wells.
Iraq's ambitious plans to boost crude oil production is not likely to be met, IHS Cambridge Energy Research Associates said in a report on Wednesday. These "highly ambitious plans ... are unlikely to be fully realized given political, security, operational and infrastructure challenges".
The Organisation of Petroleum Exporting Countries (Opec) in March saw output fall for the first time in a year as a large drop in Iraqi production outweighed a small increase by quota-bound members, a survey by Dow Jones Newswires showed yesterday. The survey, which is based on input from oil traders, analysts and industry sources, […]
The delay in the renewal of the agreement for the operation of the Kirkuk-Ceyhan oil pipeline has served a timely reminder of the many obstacles that still have to be overcome to fulfill its potential, both as an export route for Iraq and as a source of transit revenue for Turkey.
By Energy Hedge Funds Syndicate The delay in the renewal of the agreement for the operation of the Kirkuk-Ceyhan oil pipeline has served as a reminder of the many obstacles that still have to be overcome if the line is ever to fulfill its potential, both as an export route for Iraq and as a […]
BP and partner CNPC have awarded $500 million drilling contracts to raise production from the Rumaila oil field.
Royal Dutch Shell Plc, which won contracts last year to develop two Iraqi oilfields, is still in talks on a plan to capture and sell natural gas there, the company’s Middle East vice president for new business said.
On Wednesday, Anbar deputy governor said , the next stage they will focus on oil wealth, particularly in Ukaz and Znkurh areas for upgrading economics of the province.
Iraq's Majnoon oilfield is targeting production of 175,000 barrels of oil equivalent per day in 2012, a senior Royal Dutch Shell executive said on Monday.
"Iraq has been struggling to meet 2 million b/d for years," says Majid Jafar, executive director at Crescent Petroleum. "Now in the run-up to the elections, the government has been proposing a 12 million b/d target, which is ludicrous.
Ministry of oil reiterated requests for importing companies of Iraqi crude oil to announce the size and numbers of payments to the country
