Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. Texas-based oilfield services company ADS Services has signed a partnership contract and joint submission agreement with the Iraqi Drilling Company (IDC) to provide oil services. According ot a press release, the collaboration will focus on introducing and integrating dynamic pressure control systems on IDC's fleet of drilling rigs. Charles Orbell, CEO of […]
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. China Deepens Influence In Iraq With Oil-For-Infrastructure Deals A series of meetings occurred last week between senior members of the Iraqi and Chinese governments aimed at broadening and deepening the […]
By John Lee. The Kurdistan Regional Government (KRG) has taken a step towards reducing the environmental impact of waste gas and harnessing it to generate electricity from oil wells. One notable achievement is the Garmian power plant, a 165 MW station that utilises flare gas recovery from the Hasira oil wells to produce electricity. Completed […]
You are invited to join the IBBC Tech Forum Live. Free to attend! 16th June, starting from 2:30pm BST 'The Digital Transformation of Iraq'
By John Lee. The Iraqi Drilling Company (IDC) has successfully conducted the first coring operation in the Southern part of the East Baghdad Field, specifically in the Hartha Formation. EBS Petroleum, the Chinese field operator, reported that through the detailed analysis of the oil and gas evidence from the core samples, achieving a 100% success […]
By John Lee. The Iraqi parliament has approved a record budget of 198.9 trillion dinars [$152 billion] for 2023, following four days of debate. According to Al Jazeera, the planned fiscal deficit is 64.36 trillion Iraqi dinars [$49 billion], more than double the amount in the 2021 budget. The budget assumes an oil price of […]
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. Aramco Eyes Major Opportunity In Iraq Following the recent China-brokered resumption of relationship deal between historical enemies Saudi Arabia and Iran, a deal for the Kingdom to develop two key […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. My Preface for Tariq Shafiq' Second Book on Iraq Petroleum A few months ago, Tariq Shafiq (Abu Ehsan) asked me to write the preface of his second book on the Iraqi petroleum. […]
From the Iraq Britain Business Council (IBBC): Iraq open to the world... and who's making it happen. An IBBC conference on June 16th at London's Mansion House. On 16th June IBBC are hosting a significant delegation of Iraq businesses and government officials to the UK, with a strong focus on energy, oil and gas, new […]
By Sara Manisera and Daniela Sala in Al Khora, for The Guardian. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraq's oil boom blamed for worsening water crisis in drought-hit south Pollution from gas flaring - the burning of natural gas associated with […]
By John Lee. Iraq's Minister of Oil, Hayan Abdul-Ghani has opened the first phase of the natural gas liquefaction plant project at Rumaila oil field. The project aims to utilize associated gas, and has a capacity of 200 million cubic feet per day in the first phase. By the end of this year, the project's […]
By John Lee. The International Monetary Fund (IMF) has forecast growth in Iraq's real non-oil GDP 3.7 percent in 2023. Following a recent visit to Iraq, the IMF team also predicts inflation of 5.6 percent in for the year. Full statement from IMF: A staff team of the International Monetary Fund (IMF) led by Tokhir […]
