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 Ministry of Oil has announced preliminary oil exports for February: Revenues achieved: 7.081 billion dollars Total exported quantities of crude oil: 92,255,610 barrels Exported quantities from central and southern Iraq: 89,140,448 barrels Exported quantities from Kirkuk through Ceyhan port: 2,834,393 barrels Average daily quantities exported: 3.295 million barrels per day, slightly […]
By John Lee. UK-based pump maker Amarinth has won another order from Iraq Gates Contracting Company (IGCC), this time for two bespoke API 610 12th Edition VS4 vertical pumps for the Rumaila oil field in Iraq. The 3.5m long flare drain pumps are destined for the Rumaila oil field, a super-giant oil field located 50km […]
By John Lee. Texas-based law firm Vinson and Elkins has received more than $2.6 million for its role as legal advisor to Iraq's Ministry of Oil in the United States. According to documents filed under the US's Foreign Agents Registration Act (FARA), the sum relates to the six-month period to the end of January. The […]
By John Lee. Iraq's Ministry of Oil has announced finalised oil exports for January of 101,245,095 barrels, giving an average for the month of 3.266 million barrels per day (bpd), down from the 3.332 million bpd exported in December. The exports from the oilfields in central and southern Iraq amounted to approximately 98,460,050 barrels, while […]
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. Will Iraq Finally Revive This Mothballed Megaproject? For several years now, Iraq has been able to access all the technology required to turn part of its abundant crude oil and/or […]
By John Lee. The Iraqi Prime Minister has said that Iraq will achieve self-sufficiency in gas within three years. Speaking at the final signing ceremony of the contracts for the fifth licensing round on Tuesday, Mohammed Shia Al-Sudani said the cost of importing gas is up to 10 trillion dinars [$6.8 billion] annually. Iraq also […]
By John Lee. Prime Minister Mr. Mohammed S. Al-Sudani attended the final signing ceremony of the contracts for the fifth licensing round for border zones and fields, held on Tuesday 21st February at the headquarters of the Ministry of Oil. The Prime Minister pointed out that implementing the fifth licensing round was delayed for five […]
Remarks for the Ambassador's Keynote Speech at the Iraq Oil and Gas Show Saturday, February 18, 10:45 a.m. (Babylon Rotana Hotel) I have recently returned from Washington, D.C. where we had the privilege of hosting Foreign Minister Fuad Hussein and his 15-member delegation. This visit was historic. It was the first Higher Coordinating Committee that […]
Waste gas used to generate power in Garmian, Kurdistan A significant step taken by the ninth cabinet of the Kurdistan Region Government (KRG) was to reduce the impact of waste gas on the environment and produce electricity using this gas from oil wells. The Garmian waste-gas-to-power-plant project is a 165-MW facility of its kind in […]
By John Lee. The Iraqi Drilling Company (IDC) has begun drilling the FQCS-88 oil well at the Fakka oil field in eastern Maysan [Missan] province. The 2,000-horsepower IDC 55 rig is operating as part of a project to drill 22 oil wells for the China National Offshore Oil Corporation (CNOOC). It will drill to a […]
By John Lee. Iraq's Minister of Oil, Hayan Abdul-Ghani, has announced that the final signing of contracts for the fifth round of energy licences will take place next week. These contracts relate to the development and production of six fields and exploratory blocks in border areas, which were granted to the following companies: Development blocks: […]
Building on the momentum created by the Gulf Cup, the Iraq Britain Business Council (IBBC) Managing Director, Christophe Michels visited Kuwait and Basrah to discuss the strengthening of business partnership between Kuwaiti and Basrawi businesses. Joined by IBBC Founder Member, Sara Akbar, meetings were held with the Kuwaiti Chamber of Commerce, the Iraqi Ambassador to […]
