Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. The Association of the Petroleum Industry of Kurdistan (APIKUR) has appealed to the United States Congress for immediate action to help resolve halted crude oil exports from the Kurdistan Region of Iraq (KRI). The export halt, affecting over 400,000 barrels of oil per day, has lasted more than 10 months and is […]
By John Lee. Iraq's Ministry of Oil has announced finalised oil export figures for December: Total exports of crude oil: 108,056,590 barrels. Revenues from crude oil exports: $8.311 billion. Oil fields in central and southern Iraq accounted for 107,592,532 barrels of crude oil exports. Exports from Kirkuk through the port of Ceyhan have been suspended. […]
By John Lee. Dana Gas has informed the market that a liquid storage tank at the Khor Mor facility in the Kurdistan Region of Iraq was struck by a suspected drone on the evening of Thursday, 25 January. It said there were no injuries to personnel, but that production was temporarily suspended to put out […]
By John Lee. Dr. Majid Al-Waeli, the Governor of Al-Najaf, has announced the discovery of oil in the Oasis Al-Rahban area in the lowlands of Al-Najaf province. According to a statement from the Governor's office, the discovery was made by the Iraqi Oil Exploration Company and a group of foreign experts Al-Waeli ordered the formation […]
By John Lee. Prime Minister Mohammed Shiaa Al-Sudani has approved the recommendations of the committee responsible for establishing a fixed platform for imported gas at the large Al-Faw Port. This platform is the first of its kind in the national oil, gas, and related infrastructure sector. During a meeting chaired by the Prime Minister on […]
By John Lee. The National Energy Services Reunited Corp. (NESR) has announced the inauguration of its flagship 'Carbon Light' oilfield brine plant in North Rumaila. The project and opening ceremony were conducted with Basra Energy Company (BECL), the company set up on 2021 to operate the Rumaila Operating Organization (ROO). According to a statement from […]
By John Lee. UK-listed Genel Energy has said that it has cut all non-essential activity and significantly reduced spend, while developing a new source of income through domestic sales in the Kurdistan Region. Meanwhile, an arbitration hearing into the termination of the Miran and Bina Bawi production sharing contracts (PSCs) is scheduled to start in […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. TotalEnergies Agreement Smells Filthy The more information becomes available about this agreement, the more it exposes the extent of unfairness and damage to Iraq national interest, and the deception or scandal of […]
By John Lee. Iraq's Oil Products Distribution Company, in collaboration with supporting security forces, have successfully broken an oil smuggling ring. According to a statement from the Ministry of Oil, a raid was carried out on a garage in the Khor Al-Zubair area, at which they seized 29 tankers loaded with oxidized asphalt [oxidized bitumen], […]
By John Lee. Canada's Shamaran Petroleum and US's HKN Energy are to aquire Abu Dhabi National Energy Company (TAQA)'s interest in the Atrush oilfield in Iraqi Kurdistan. In a regulatory statement on Monday, TAQA said: "... Abu Dhabi National Energy Company PJSC ("TAQA") has, through its wholly-owned subsidiary, TAQA International BV, entered into definitive agreements […]
From Rudaw. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. KRG to brief oil producers on talks with Baghdad The natural resources ministry of the Kurdistan Regional Government (KRG) has invited international oil companies working in the Region to meet on Wednesday to discuss […]
By John Lee. Iraq's Commission of Integrity has reported the detection of "excesses and waste" exceeding $33 million in two contracts for Dhi Qar Oil Company (DQOC) and several departments affiliated with the Ministry of Electricity in the province. The department revealed excesses in the cost of a contract for the construction and maintenance of […]
