Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
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 […]
By John Lee. Iraq's Deputy Minister of Oil for Refining Affairs emphasized the government's and ministry's focus on increasing refining capacity and improving production at national refineries to achieve self-sufficiency and gradually transition to exporting refined products to global markets. Deputy Minister Hamed Younis highlighted that the dedicated efforts of the South Refineries Company (SRC) […]
By John Lee. A drone attack on Friday evening has killed four workers at Khor Mor gas field in Sulaymaniyah province. Press reports say the dead were Yemeni nationals. Electricity supplies have also been disrupted. A KRG statement said that initial information suggested the attacks come from "a nearby region within Iraq"; KRG Prime Minister […]
By John Lee. Gulf Keystone Petroleum (GKP) has just published details of its payments to governments for the year 2023: Introduction This report sets out details of the payments made to governments by Gulf Keystone Petroleum Ltd and its subsidiary undertakings ("Gulf Keystone") for the year ended 31 December 2023 as required under Disclosure and […]
By John Lee. Iraq has signed a contract with Ukrainian company Ukrzemresurs to develop the Akkas gas field in Anbar Province. According to a statement from the Ministry of Oil, the goal is to increase national production by an additional 400 million standard cubic feet per day (MMSCFD) of gas within four years, to supply […]
By John Lee. Baker Hughes has signed a memorandum of understanding (MoU) with the Halfaya Gas Company (HGC), with the objective of setting the basis to establish a collaboration for a gas flaring reduction project at the Nahr Bin Umar [Nahr Ben Umar] gas processing plant in southeastern Iraq. The signing took place in Washington, […]
