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 Council of Ministers has announced its commitment to assist Lebanon by meeting its oil derivative requirements. Additionally, they will provide support in operating the country's electricity production plants and extend the existing supply agreement for an additional third year. The State Oil Marketing Organization (SOMO) will ensure full supply as per […]
By John Lee. Iraq's Minister of Oil has invited international companies to bid to develop new oil fields, in what is being described as an annex to the Fifth Licensing Round. This round includes 13 exploration fields and sites distributed across the northern, central, and southern provinces. The announcement complements the Ministry's previous declaration in […]
By Adam Lucente for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraq asks Turkey to resume oil exports as firms in Kurdistan region scale back Turkey has still yet to restart oil flows from northern Iraq following a controversial court […]
Iran and Iraq have signed a memorandum of understanding on cooperation in the oil and gas industries. In a meeting attended by Iraqi Prime Minister Mohammad Shia al-Sudani, held in Baghdad on Wednesday, Iran's Oil Minister Javad Owji and his Iraqi counterpart Hayan Abdel-Ghani signed the MoU to cooperate in the oil, gas, and petrochemical […]
By John Lee. The Ministry of Oil has opened the largest and most advanced oil training center in Basra, in collaboration with the Japanese company JGC. Hamed Younis, the Deputy Minister of Oil for Refining Affairs, emphasized the ministry's strong focus on training, qualifying, and developing the skills of workers in the oil sector. He […]
By John Lee. Iraq's Minister of Oil, Hayan Abdul-Ghani, confirmed on Thursday night that the State Oil Marketing Organization (SOMO) told the Turkish company BOTAS to resume export and loading operations at the Turkish port of Ceyhan (pictured), starting on Saturday, 13th May. He added that contracts have been finalized with international companies for the […]
The Kurdistan Regional Government (KRG) has reached an agreement with the Iraqi federal government on measures to allow the resumption of oil exports through Turkey. The Kurdistan Region's Ministry of Natural Resources announced in a statement that on 10 May Iraq's State Oil Marketing Organization (SOMO) officially requested Turkish authorities to allow the Kurdistan Region's […]
By John Lee. DNO, which operates the Tawke licence in Iraqi Kurdistan, has said on Thursday that, given the uncertain timing of oil export resumption from Iraqi Kurdistan and, importantly, of payments by the Kurdistan Regional Government (KRG) for previous oil sales, it has scaled back spend in Kurdistan, including drilling. In its statement of […]
Dana Gas has announced its financial results for the first quarter ended 31 March 2023. For the first quarter of 2023, the Company generated a net profit of AED 183 million ($50 million) as compared to AED 198 million ($54 million) in Q1 2022. Profitability for the quarter dropped just 7% compared to a 22% […]
By John Lee. Iraq's Minister of Oil, Hayan Abdul-Ghani, recently met with the Chairman and members of a consortium of Korean companies, led by Hyundai. The meeting, which included the General Manager of the State Company for Oil Projects (SCOP) and the General Manager of the Midland Refineries Company (MRC), focused on discussing the consortium's […]
By John Lee. During his visit to the southwestern province of Khuzestan, Iran's President Seyyed Ebrahim Raeisi marked the official commencement of operations for the Sohrab oil field. A statement from Iran's NIOC said: "Representing the National Iranian Oil Company (NIOC), the Petroleum Engineering and Development Company (PEDEC) is managing the project and the Dana […]
By John Lee. Iraq's Minister of Oil, Hayan Abdul-Ghani, has announced the restart of production, loading, and export operations from the Qayyarah oil field in Nineveh Governorate. The field has a capacity of 33,000 barrels per day (bpd). Tankers and rail will be used for transportation. Around 30,000 bpd will be exported to the ports […]
