Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. Under the patronage of Oil Minister Hayyan Abdul Ghani, Basra Oil Company (BOC) organized a ceremony for the handover of the main operator role for the West Qurna 1 oilfield. The event, attended by the Ministry's Deputy for Extraction Affairs Basim Mohammed Khudair, marked the transfer of management responsibilities to China's PetroChina, […]
By John Lee. The Iraqi and Iranian ministers of oil have agreed to establish committees to expand cooperation, including committees for the development of shared border fields, investment in gas and petrochemical industries, and renewable energy. Other committees will focus on the qualification and development of refineries, joint training, and collaborative efforts in oil marketing, […]
By John Lee. Iraq's Ministry of Oil has announced finalised oil export figures for November: Total exports of crude oil: 102,975,782 barrels. Revenues from crude oil exports: $8.482 billion. Oil fields in central and southern Iraq accounted for 101,764,620 barrels of crude oil exports. Exports from Kirkuk through the port of Ceyhan have been suspended. […]
By Noam Raydan and Harry Istepanian, for Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. After 'green talk' at COP28, where should Iraq begin? Iraq must demonstrate how it will balance its plans to reduce emissions while increasing crude production and continuing […]
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 Recent information indicates what might be the first scandal of this agreement. The Ministry of Oil (MoO) appears to have given away and for free 31% of actual […]
By John Lee. The Iraqi Drilling Company (IDC) has completed the reclamation of two oil wells in the Khabbaz and Jambur oil fields in Kirkuk. The Khabbaz/45 well was reclaimed using the IDC 206 drilling rig as part of a nine-well reclamation project for the North Oil Company (NOC) in the Khabbaz oil field. The […]
DNO ASA, the Norwegian oil and gas operator, today announced that gross production from its operated Tawke license in the Kurdistan region of Iraq continues to climb, with the December to date average approaching 90,000 barrels of oil per day (bopd). That lifts the projected fourth quarter 2023 figure to 65,000 bopd, up from 26,000 […]
By John Lee. The Iraqi Drilling Company (IDC) has successfully completed the drilling of oil well EBS-64 as part of the contract with the Chinese company Zhenhua, aiming to drill 27 oil wells at the East Baghdad field. The operation, conducted in collaboration with China Oilfield Services Limited (COSL), a division of the China National […]
By John Lee. Shares in Gulf Keystone Petroleum (GKP) were trading down around 5 percent on Wednesday afternoon following an update from the company. It said that local market demand remains difficult to predict, and while discussions are ongoing, there is still no official timeline for the reopening of the Iraq-Turkey Pipeline (ITP). Full statement […]
By John Lee. Iraq plans to establish 44 new pharmaceutical factories across the country. Hamoudi Al-Lami, an advisor to the Prime Minister, told the state-run Iraqi News Agency (INA) that 25 of the factories will be in Baghdad, while the remaining facilities are spread across different provinces, including Kirkuk, Erbil, Basra, Karbala, and six in […]
By John Lee. The Iraqi Drilling Company (IDC) has accomplished the drilling of the directional oil well MJ-159 in collaboration with Halliburton, as part of the project to drill 42 oil wells in the Majnoon Oilfield for Basra Oil Company (BOC). Mr. Muhannad Maki Tarash, the Director of the First Operations Department at the company, […]
By John Lee. WesternZagros Resources has joined the Association of the Petroleum Industry of Kurdistan (APIKUR), becoming its seventh member. According to a statement from APIKUR: WesternZagros is a privately held American owned company with offices in Calgary, Canada, and in Erbil and Sulaymaniyah in the Kurdistan Region of Iraq. It has invested over $1 […]
