Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. Canadian oil development and exploration company ShaMaran Petroleum has announced that it restarted operations at its Atrush field in Iraqi Kurdistan this week, selling oil to a local refinery via pipeline. In its statement for the nine months nine months ended 30th September, the company said it remains focused on cost control […]
By John Lee. Iraq's Oil Pipeline Company has successfully completed a project to extend a dry gas pipeline (16 inches in diameter) that supplies the Kirkuk Gas Power Station from the Khor Mor fields. The pipeline, with a length of 1,050 meters, was constructed in two phases and is expected to transport an additional 100 […]
By John Lee. In a meeting of the Joint Management Committee, Iraq's Oil Ministry discussed the development plan for fields and projects contracted with the French company TotalEnergies. The Deputy Minister for Extraction Affairs affirmed the ministry's commitment to implementing strategic projects with TotalEnergies and QatarEnergy. According to a statement from the Ministry, the four […]
By John Lee. Iraq's Ministry of Oil has announced preliminary oil exports for October: Total exports of crude oil: 109,545,589 barrels. Revenues from crude oil exports: $9.669 billion, the highest since July 2022. Oil fields in central and southern Iraq accounted for 108,050,360 barrels of crude oil exports. Exports from Kirkuk through the port of […]
By John Lee. Russian oil firm Lukoil has signed an agreement extending its contract at Iraq's West Qurna 2 oilfield by 10 years, taking it to 2045. Full statement from Lukoil: The representatives of PJSC LUKOIL and Basra Oil Company signed a Supplementary Agreement to the contract on the development and production of oil at […]
By John Lee. China's Zhongman Petroleum and Natural Gas Group Corporation (ZPEC) has announced that it has received a letter from Iraq's Petroleum Contracts and Licensing Directorate (PCLD) confirming the successful approval of its qualifications for Iraq's oil and gas field development and operations. In a statement on Thursday to the Shanghai Stock Exchange, the […]
From the Iraq Britain Business Council (IBBC): IBBC Autumn Conference in Dubai examines: 'Iraq - Building a sustainable future'. For the first time in over 30 years, Iraq is currently experiencing a relatively golden scenario with high oil prices and government surpluses, a stable government, and peaceful borders. A stable economy is also leading to […]
By John Lee. Jordan's Ministry of Energy and Mineral Resources has said that a number of tankers carrying crude oil from Iraq to Jordan have returned before entering Jordan due to protests at the Terbil [Trebel] border crossing. It said this decision was made to ensure the safety of drivers and the tankers. It added […]
By John Lee. Iraq's Oil Minister, Hayan Abdul Ghani, has unveiled the draft of an investment project for the Nahr Bin Umar gas field in Basra Province. The project will be submitted for approval to the Ministerial Energy Council and later to the Cabinet. This announcement came during a meeting of the advisory body to […]
By John Lee. Iraq's Ministry of Oil has announced finalised oil exports for September: Total exports of crude oil: 103,143,199 barrels. Revenues from crude oil exports: $9.422 billion, the highest since August 2022. Oil fields in central and southern Iraq accounted for 102,220,441 barrels of crude oil exports. Exports from Kirkuk through the port of […]
By John Lee. Iraq's Oil Minister, Hayan Abdul Ghani, has announced the launch of the country's first project funded by carbon bonds. The announcement was made during a workshop titled "Carbon Bonds," organized by the Ministry of Oil's Training and Development Department to discuss the ministry's vision and plans for carbon reduction. According to a […]
By John Lee. Iraq's Deputy Prime Minister for Energy Affairs and Minister of Oil has announced plans to increase gas production from the Siba Gas Field in Basra to 100 million cubic feet per day. Currently, the field produces 50-60 million cubic feet daily, and the goal is to double that output. During a recent […]
