Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. The Iraqi Drilling Company (IDC) has successfully completed drilling operations for the Nasiriyah-60 oil well in Dhi Qar province. The well, reaching a depth of 2,110 meters, is part of the "Mushrif [Mishrif] Formation", and the project is a contract with the Dhi Qar Oil Company (DQOC). The project entails drilling 20 […]
By John Lee. Canadian oil development and exploration company ShaMaran Petroleum has suspended its 2023 guidance due to uncertainties resulting from the closure of the Iraq-Turkey Pipeline (ITP) to Ceyhan, and other challenges in Iraqi Kurdistan. Full statement from ShaMaran Petroleum: ShaMaran Petroleum Corp. ("ShaMaran" or the "Company") (TSXV: SNM) and (Nasdaq First North Growth […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 10th August 2023). Please click here to view a table of listed companies and their associated ticker codes. RSISX Index Change RSISX Index Closings Change (w/w) (%) Change (YTD) (%) RSISX IQD Index 1,185.2 6.5% 30.2% RSISX USD Index 1,165.4 […]
By Simon Watkins for the OilPrice.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq Unwilling To Resume Crude Exports From Kurdistan To Turkey It is easy to lose sight of the wood for the trees sometimes in the complex world of global oil. […]
By John Lee. Share in Gulf Keystone Petroleum (GKP) were trading up nearly 7 percent this morning (Wednesday), follow a fall that saw the shares down 25 percent at one point yesterday. In an operational and corporate update, the company said it has, "commenced local sales in July and partially restarted Shaikan Field production, increasing […]
By John Lee. UAE-based Dana Gas said on Wednesday that its Pearl Petroleum subsidiary recently received $101 million payments from the Kurdistan Regional Government (KRG). However, the shares were trading down approximately 1 percent, as overall revenues and profits saw a decline. Full statement from Dana Gas: Highlights - H1 2023 KRI production increased by […]
By John Lee. Iraq has reportedly increased its supply of crude oil to Jordan from 10,000 barrels per day (bpd) to 15,000 bpd. Jordan's state-run Petra News Agency cites the Ministry of Energy and Mineral Resources as saying that the increase took effect from the start of August. The oil will be supplied to the […]
By John Lee. An Iraqi government spokesman has said that Iraq is considering reviving plans to use an oil export pipeline through Syria. Following Prime Minister Muhammad Shia'a Al-Sudani's visit to the country last month, Basem Al-Awadi told the state-owned Iraqi News Agency (INA) that Iraq is ready to discuss with Syria the development of […]
By John Lee. Genel Energy has issued a presentation relating to its half-year results to the end of June. Click here to download. (Source: Genel Energy)
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 3rd August 2023). Please click here to view a table of listed companies and their associated ticker codes. RSISX Index Change RSISX Index Closings Change (w/w) (%) Change (YTD) (%) RSISX IQD Index 1,112.5 -0.8% 22.2% RSISX USD Index 1,093.8 […]
By John Lee. In an effort to address the water scarcity crisis and expedite the implementation of a seawater desalination plant project in Basra province, the Iraqi Cabinet has made the following decisions: Amendment to Previous Decision: The Cabinet has revised the resolution made in 2021 under Cabinet Decision No. 315. Project Transfer: The Ministry […]
By John Lee. Revenues at Genel Energy have, as expected, fallen sharply as a result of the closure of the Iraq-Turkey Pipeline (ITP) which brings oil from Northern Iraq to Turkiye's port of Ceyhan. In its unaudited results for the period ended 30 June 2023, Paul Weir, Chief Executive of Genel, said: "The closure of […]
