Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. During the first half of 2024, the Iraqi Drilling Company (IDC) successfully drilled and rehabilitated 105 oil wells across various oil fields. General Manager Khalid Hamza Abbas reported that the company's technical and engineering teams drilled 33 new wells and rehabilitated 72 others for both national extraction companies and international firms operating […]
From the Iraq Britain Business Council (IBBC): The IBBC 15th Anniversary Mansion House conference presented a range of engaging ministerial and business attendees. As Iraq's economy is expanding and diversifying, the delegates reflected this in the range of topics and debates. Baroness Nicholson and Christophe Michels welcomed everyone at this milestone time and thanked all […]
By John Lee. Angola's Sonangol has signed a contract with the Iraqi Oil Exploration Company to carry out a 3D seismic survey of its Qayara [Qayarrah] oil field in Nineveh Province. The Ministry's Undersecretary for Extraction Affairs, Bassem Mohammed Khudair, said: "This contract aligns with our strategic vision for the oil sector by involving national […]
By John Lee. Iraq's Oil Ministry has signed a contract with China's Geo-Jade Petroleum for a 2D and 3D seismic survey of the Naft Khana oil block in Diyala Province. According to a statement from the Ministry, the signing ceremony took place at the Ministry's headquarters on Sunday. The Ministry's Extraction Affairs Deputy, Bassem Mohammed […]
By John Lee. Iraq has been named as the world's third biggest flarer of gas in 2023. According to the World Bank's Global Gas Flaring Tracker, the worst offender was Russia, followed by Iran, with Iraq in third place. The USA was in fourth place, followed by Venezuela and Algeria. The full report can be […]
By John Lee. To meet the requirements of the strategic Common Seawater Supply Project (CSSP), the Ministerial Council for Energy has approved recommendation (24054 T) for 2024, as follows: Exemption of the CSSP and its consultancy tender with the Austrian firm ILF Consulting from the contracting methods stipulated in the Government Contracting Execution Instructions (2 […]
By John Lee. Iraq's Ministry of Oil has announced finalised oil export volumes for May, but has again not disclosed the value of oil exports for the month. This follows an increasing trend of delayed or missing oil export data from the Ministry. While the statement references the Ministry's "belief in informing the people about […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Once Again, Turkey Violates the Pipeline Agreement Turkish media has recently reported on a potential new breach by Turkey of the Kirkuk-Ceyhan crude oil pipeline agreement. This alleged violation involves Turkey extending […]
By John Lee. Ukrainian President has named a new ambassador to Iraq. In a statement on Friday, Volodymyr Zelenskyy appointed Ivan Ivanovych Dovganych [Dovhanych] to the role. In April, Iraq signed a contract with Ukrainian company Ukrzemresurs to develop the Akkas gas field in Anbar Province. (Source: Office of the Ukrainian President)
By John Lee. An industry group representing international oil companies (IOCs) in Iraqi Kurdistan has said that its members would agree to direct sales agreements with the State Oil Marketing Organization (SOMO), which is controlled by Baghdad's Ministry of Oil. A statement from the Association of the Petroleum Industry of Kurdistan (APIKUR) on Friday, issued […]
By John Lee. Shares in Gulf Keystone Petroleum (GKP) closed up more than six percent on Friday, after the company announced that it will pay an interim dividend. The company had cancelled its dividend in May 2023, follow disruption to oil exports from the Kurdistan Region. An increase in sales to local customers had allowed […]
By Simon Watkins for the OilPrice.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq and China Strengthen Ties With Major Development Initiative A series of high-level meetings took place last week between senior Iraqi and Chinese officials to finalize the details of the […]
