Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. Gulf Keystone Petroleum (GKP) has provided an operational update and announced the launch of a share buyback programme of the Company's Common Shares for up to a maximum aggregate consideration of $10 million. Full statement fron GKP: Gulf Keystone, a leading independent operator and producer in the Kurdistan Region of Iraq, today […]
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. Why Iraq Just Awarded A Strategically Vital Gas Field To A Ukrainian Firm Russia-aligned Iraq has awarded the development of a crucial gas field to a Ukrainian firm. The importance […]
From Tasnim, under a Creative Commons licence. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. The CEO of the National Iranian Gas Company (NIGC) said the gas contract between Iran and Iraq, which would finish at the end of June 20, 2024, was extended […]
By John Lee. Genel Energy issued the following trading and operations update relating to Q1 2024 on Thursday, ahead of the Company's Annual General Meeting: Paul Weir (pictured), Chief Executive of Genel, said: "We have achieved balanced income and expenditure in the first quarter of the year, which is ahead of schedule. Local sales from […]
By John Lee. The Iraqi Ministry of Oil has defended its decision to award the development of the Akkas gas field to little-known Ukrainian company, Ukrzemresurs. According to a statement from the Ministry, the decision followed Ukrzemresurs' application to the Contracts and Petroleum Licensing Directorate (PCLD), fulfilling the required standards and providing financial and legal […]
By John Lee. DNO ASA, the Norwegian oil and gas operator, reported first quarter 2024 operating profit of USD 61 million, 61 percent higher than the previous quarter, on the back of revenues totaling USD 183 million. Free cash flow at USD 44 million was up 31 percent from the fourth quarter of 2023. Net […]
By Bahrooz Jaafar. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Fortifying Futures: Securing Energy Sovereignty through the Kurdistan Region's Khor Mor Gas Field Amidst global economic challenges, including concerns over energy and food security, oil operations in the Kurdistan Region face a […]
By John Lee. Dana Gas announced on Friday that production at the Khor Mor facility in the Kurdistan Region of Iraq has been restored to normal levels following the recent attack. The facility's daily production output capacity now exceeds 500 million standard cubic feet (MMscf) of gas, 1,100 metric tons (MT) of LPG and 15,000 […]
By John Lee. Iraq's Ministerial Council for Energy has recommended proceeding with the signing of a preliminary contract for the Mansuriyah gas field between the Ministry of Oil's Middle Oil Company [Midland Oil Company] and a consortium consisting of China's Jereh Group and a company referred to as "Petro Iraq". According to a statement from […]
By John Lee. Iraq's Ministerial Council for Energy has recommended awarding the tender number "MOD-2024" for the operation and maintenance of diesel stations in North Diwaniyah, East Diwaniyah, East Karbala, and North Amara to Dasoff Petroleum Service LLC. The contract price is set at $13.5 per MWh on a "Take and Pay" basis for a […]
By John Lee. Dana Gas has said it is resuming operations at its Khor Mor gas field in Iraqi Kurdistan "in a phased manner." In a statement to the Abu Dhabi Securities Exchange on Wednesday, the company said: "Based upon concrete actions which have been taken by the Government of Iraq and the Kurdistan Regional […]
By John Lee. Iraq's Ministry of Oil has announced finalised oil export volumes for March, but has still 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. Total exports of crude oil: 106,112,038 barrels. Oil fields in central and […]
