Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. An industry group representing international oil companies (IOCs) in Iraqi Kurdistan has said that, even if the Iraq-Turkey Pipeline (ITP) is reopened, its members will not produce oil until it is clear how they will be paid. While welcoming recent discussions between Iraq and Turkey on the possible reopening of the line, […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 31st August 2023). Please click here to view a table of listed companies and their associated ticker codes. Note: ISX will be closed on Sep. 6 (Wednesday) and on Sep. 7 (Thursday) due to the religious holiday of Arbaeen. The next trading session […]
By John Lee. Shares in Gulf Keystone Petroleum (GKP), which operates oilfields in Iraqi Kurdistan, were trading down 7 percent at lunchtime on Thursday, after the company announced a "material uncertainty" regarding its continuation as a going concern. In its results for the half year ended 30 June 2023, the company said: "Nonetheless, given the […]
By John Lee. Iraq and Turkmenistan have reached a preliminary agreement to enhance cooperation in the gas sector, specifically concerning the importation of gas into Iraq. The Deputy Minister of Oil for Gas Affairs, Mr. Azat Saber, said that a high-level government delegation held meetings with gas sector officials in Turkmenistan. The two parties have […]
By John Lee. The Iraqi Ministry of Oil has announced the delivery of a new oil tanker named "Sumer." The Director-General of the Iraqi Oil Tankers Company (IOTC) emphasized the ministry's commitment to expanding the national fleet through new contracts with global specialized firms. Mr. Ali Qais said the technical team and the designated committee […]
By John Lee. Iraq's Ministry of Oil has announced finalised oil exports for July: Total exports of crude oil: 106,755,169 barrels Revenues from crude oil exports: $8.330475 billion Oil fields in central and southern Iraq accounted for 105,487,610 barrels of crude oil exports. Exports from Kirkuk through the port of Ceyhan have been suspended. Oil […]
By Ezgi Akin for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Turkey's FM tackles long-held disputes with Iraq in first official visit Hakan Fidan chose Iraq for his first official visit as Turkey's new foreign minister, but the visit appeared […]
By John Lee. Under the guidance of Iraq's Deputy Prime Minister for Energy and Minister of Oil, Mr. Hayan Abdul Ghani, Dhi Qar Oil Company (DQOC) has completed the trial operation of a gas power plant at the Al-Gharraf oil field in Dhi Qar province. This achievement aligns with the ministry's strategy to harness associated […]
By John Lee. The Japan International Cooperation Agency (JICA) has ssigned a loan agreement with Iraq to provide a Japanese ODA loan of up to 203,060 million yen [$1.4 billion] for the Basrah Refinery Upgrading Project (V). This project will improve Iraq's capacity for producing oil products and the quality of such products by installing […]
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. The Real Reason Russia Is Ramping Up Oil Production In Iraq With the future of independent oil supplies from the KRI looking highly precarious, Russia is moving firmly into the last […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 17th 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 1,219.8 2.9% 34.0% RSISX USD Index 1,199.4 […]
By John Lee. The Minister of Oil has announced that the ongoing efforts to rehabilitate the Northern Refinery in the "Samoud Complex" in Baiji, with a capacity of 150,000 barrels per day (bpd), will be completed by the end of 2024. He highlighted the government's attention and the direct involvement of the Prime Minister in […]
