Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. Iraq's Ministry of Oil has finalised contracts for the "fifth-plus" and sixth oil licensing rounds with the successful companies. Minister Abdul Ghani highlighted that these agreements, which cover the development of oil and gas fields and exploration blocks across several provinces, are poised to boost Iraq's production capacity by 800-850 million standard […]
By John Lee. Iraq's Ministry of Oil has announced finalised oil export volumes for September, 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: 99,311,107 barrels. Exports from the oil fields in […]
By Yerevan Saeed and Sardar Aziz for the Arab Gulf States Institute in Washington (AGSIW). Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. China's Rise in Iraq's Energy Sector: From Newcomer to Dominant Player While Iraqi leaders consistently emphasize the importance of Western investment […]
By John Lee. The Iraqi Council of Ministers has approved the conversion of the Kirkuk hydrogenation and gasoline improvement project, with a capacity of 12,000 barrels per day, from a Build-Own-Operate (BOO) model to a Build-Operate-Transfer (BOOT) model. The refining fee for one barrel of oil has been set at $23, as previously determined by […]
By John Lee. Iraq's Prime Minister, Mohammed Shia Al-Sudani, met with a delegation from Russian oil company Lukoil to review ongoing cooperation and projects in Iraq. The discussions focused on the company's operations in the West Qurna-2 and Eridu [Block 10] oil fields and the progress made in these developments. Al-Sudani emphasized the government's priority […]
From the Iraq Britain Business Council (IBBC): Iraq is making a significant comeback, presenting the private sector with an increasing array of opportunities to invest and contribute to its ongoing development. The Sudani government has not only introduced stability and reforms but is also investing in a wide range of infrastructure projects that promise growth […]
By John Lee. DNO ASA, the Norwegian oil and gas operator, has issued an update on production, sales volumes and other key information for Q3 2024: Q3 2024 Trading Update and Invitation to Earnings Call Oslo, 14 October 2024 - DNO ASA, the Norwegian oil and gas operator, will publish its Q3 2024 operating and interim […]
By John Lee. Iraq's Council of Ministers has authorized the Ministry of Electricity to contract with the Swiss company Loxstone Energy for the supply of gas from Turkmenistan to Iraq via Iran under a swap agreement. Due to the importance and urgency of this contract in maintaining the operation of power plants, the deal is […]
By John Lee. The Iraqi Drilling Company (IDC) has successfully completed drilling two oil wells, one in the East Baghdad South field and another in the Bazargan South field (part of the Maysan fields). Deputy General Manager Kazem Habash Khalif stated that the company continues to implement its ambitious plans using advanced drilling techniques while […]
By John Lee. Pakistan Petroleum Limited (PPL) has announced that its subsidiary, PPL Asia E&P B.V. (PPL Asia), has reached what it describes as "a mutually favourable settlement" with Iraq's state-owned Middle Oil Company, successfully concluding all matters relating to the Exploration, Development, and Production Service Contract (EDPSC) for Block-8 in in the Diyala and […]
By John Lee. The Iraqi Prime Minister has expressed a willingness to partner with American firms to develop the country's oil and gas resources. Speaking to Al Monitor, Mohammed Shia al-Sudani acknowledged that some US companies have said the terms of potential contracts were not favorable, and he pledged to rectify the issue. Full report […]
By John Lee. Iraq's Cabinet has revised the sale price of asphalt to 450,000 dinars [$343] per ton, up from 350,000 dinars, applicable equally to both public and private sectors. Asphalt from the Qayyarah refinery will remain at 300,000 dinars per ton for all types, with pricing to be reviewed in four months. An 80-percent […]
