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 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, […]
By John Lee. The Kurdistan Regional Government (KRG) has hit back at the Iraqi federal government in the continuing row over the Region's oil exports. In a statement the KRG questioned the legitimacy of the Federal Supreme Court (FSC), and claimed again that contracts it signed with oil companies are valid. Full statement from KRG: […]
From the Iraq Britain Business Council (IBBC): IBBC's 15th Anniversary Conference: Iraq's 'Opportunities and Insights' This is a big year for Iraq and IBBC as we celebrate our 15th anniversary and Iraq moves into a new prosperous and stable phase. As advocates for the private sector in Iraq, IBBC champions best practice, through our special […]
By John Lee. The President of the Sustainable Technology Solutions division of KBR, Jay Ibrahim, met with Iraqi Prime Minister Mohammed Shia' al-Sudani during his visit to Texas. According to a statement from the Prime Minister's Office, the meeting focused on expanding cooperation in natural gas development, government efforts to reduce carbon emissions, and partnerships […]
By John Lee. GE Vernova, the US-based company formed from the energy businesses of General Electric (GE), has announced a series of initiatives to boost electricity generation and supply in Iraq: Providing 3 additional gigawatts (GW) of power into the grid, "generated by highly efficient combined cycle power plants"; Five-year services and upgrade agreements to […]
By John Lee. Prime Minister Mohammed Shia al-Sudani received the President of Honeywell, Mr. Ken West, and his accompanying delegation in Washington, on Thursday. During the meeting, they discussed avenues of cooperation with the company to implement projects in the field of gas production development. Prime Minister al-Sudani affirmed Iraq's commitment to modernizing the oil […]
By John Lee. Prime Minister Mohammed Shia al-Sudani received a delegation from Baker Hughes in Washington, early Thursday morning. During the meeting, they discussed the company's development work in Iraq in the oil and gas sector. The Prime Minister emphasized that gas projects in Iraq are a priority for the government to meet the needs […]
