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 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 […]
By John Lee. State-run Iraqi News Agency (INA) has reported that the management of Rumaila oil field in Basra has announced plans to increase its daily production capacity to 1.4 million barrels by the end of this year. It quotes Emad Hasan Lafta, the operations director of the field, as saying that the current daily […]
By John Lee. In its 42nd regular session, chaired by Prime Minister Mohammed Shia Al-Sudani, the Iraqi Cabinet agreed to increase oil exports to China. In a statement, the cabiniet said the move was to support essential and strategic projects, in alignment with the Iraq-China Framework Agreement. As a result, oil exports to China will […]
By John Lee. The Iraqi Oil Exploration Company recently marked the successful completion of seismic surveys for the two-dimensional Haifa program in the Al-Najaf province. According to the Ministry of Oil, the surveys, conducted by the company, covered extensive areas within record time. This initiative aligns with the Ministry of Oil's plan to conduct seismic […]
By John Lee. A government delegation, led by the Prime Minister's Energy Advisor, Mr. Faiad Hassan Naima, and the Deputy Minister of Oil for Refining Affairs, Mr. Hameed Younis, visited the Baiji Northern Refinery on Thursday, October 19, 2023. The purpose of this visit was to assess the progress of the rehabilitation and reconstruction project […]
By John Lee. The Iraqi Drilling Company (IDC) has successfully completed the drilling of the new oil well at Zubair oil field in Basra. Well Zubair/607 was drilled to a depth of 3,533 meters in 36 days. This achievement is part of a contract with the Italian company ENI to drill 37 oil wells at […]
By John Lee. Iraq's Oil Minister has 'activated' three contracts with UAE-based Crescent Petroleum, as part of Iraq's fifth licensing round. The contracts are aimed at harnessing 400 million standard cubic feet of gas per day, within one and a half years, from the following development blocks: Gilabat-Qumar [Kalabat], in Diyala Khashim Ahmer-Injana [Khasham Al-Ahmar], […]
By John Lee. DNO ASA, the Norwegian oil and gas operator, will publish its Q3 2023 operating and interim financial results on 9 November at 07:00 (CET). A videoconference call with executive management will follow at 10:00 (CET). The Company issues below an update on production and sales volumes for the quarter as well as […]
By John Lee. The Iraqi Drilling Company (IDC) has successfully completed the rehabilitation of two oil wells in the Khubaz and Jambour oil fields in Kirkuk. The rehabilitation of Khubaz Well 43, using the IDC 206 drilling rig, marks the company's first well rehabilitation as part of a project to rehabilitate nine wells for the […]
