Royal Dutch Shell Plc, Europe’s biggest oil company, posted a 57 percent increase in earnings after production climbed for the first time in more than three years following startups in Brazil and Russia. Net income in the first quarter rose to $5.48 billion from $3.49 billion a year earlier, The Hague-based Shell said in a […]
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.
25% of Nasiriya Development Completed
Iraq says it has completed 25% of the plan to develop its Nasiriyah oil field. Nasariya’s development is carried out by the state-owned South Oil company. The field, which currently produces 10,000 barrels a day, is expected to increase output to 50,000 in 2011, according to the company’s Director-General Dhia Jaafar. The company has drilled […]
BP to Be Paid in Crude for Iraq Investment Costs
28 April 2010 - Bloomberg BP Plc will be paid in crude for its investment costs in an Iraqi contract that offers about the same rate of return as other projects worldwide, Chief Executive Officer Tony Hayward said. BP and China National Petroleum Corp. are spending about $15 billion in Rumaila, Iraq’s largest oil deposit, pledging […]
Pumping Oil Resumed from Kirkuk to Ceyhan
Iraq resumed exporting crude oil to turkey through Kirkuk-Ceyhan northern pipeline thru which passes one quarter of Iraq oil exports
Iraq Completes 25% of Nasiriya Oil Field Development Plan
Iraq says it has completed 25% of the plan to develop its Nasiriyah oil field.
Basra Tender on the Table
Companies have until 5 May to prequalify to compete for the rehabilitation and expansion of the existing export facilities and pipelines in the southern oil hub city of Basra, Reuters said.
Iran to Sign Iraq Oil Pipeline Deal in a Month
Iran hopes to sign a deal with Baghdad to build an oil export pipeline from Iraq’s southern city of Basra within a month.
Petrel Cuts Subba Stake
Petrel will also receive a 10% profit interest in exchange for surrendering a 50% stake in the oilfield for $7 million.
Iraq Oil Plan to Drill 15 Oil Wells
The initial development plan agreed by Royal Dutch Shell, Malaysian partner Petronas and Iraqi oil officials includes inviting oil service firms to drill 15 new wells, an Iraqi oil official confirmed today.
Total Wants Bigger Stake in Iraq's Halfaya Field
Total is consdering a bigger stake in the Halfaya oilfield, in a bid to increase its presence in Iraq, its chief executive said on Thursday.
NOC Drills 9 New Oil Wells
Iraqi state-run North Oil Company (NOC) finalized drilling nine new oil wells and will rehabilitate 13 other oil wells during the coming days.
Barzani Approves Kurdistan Region’s 2010 Budget
President of Kurdistan region Massoud Barzani ratified on Wednesday the 2010 budget