Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
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 Makes Big Moves To Secure Iraqi Oil Whilst the U.S. and its allies appear to be taking a subtle approach to advancing their remaining interests in Iraq, as hinted […]
As part of the KRG's drive to promote transparency, Deloitte have been commissioned to produce an audited report detailing oil and gas exports, production costs, and revenues for the fourth quarter of 2022. The report, which analyzes the oil and gas industry on a quarterly basis, is now available as a PDF. Click here to […]
By John Lee. The National Iranian South Oil Company (NISOC) has signed a memorandum of cooperation with Basra Oil Company (BOC). Alireza Daneshi, NISOC CEO, said: "This document paves the way for enhancing cooperation between Iran and Iraq in the field of oil and it is a good opportunity to strengthen the relationship between the […]
By Bilal Wahab for the Washington Institute for Near East Policy. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Tipping Point of the Iraq-KRG Energy Dispute Baghdad's legal wins won't mean much if it mishandles the political end, angers Turkey, and further damages the […]
By John Lee. Ukraine's Ministry of Defense has reportedly warned about the formation of a "private military company" by Russian oil giant Gazprom Neft. Time magazine says that the Ukrainian government has warned that the unit would be comparable to notorious mercenary organization the Wagner Group. It speculates that the force may become active in […]
By John Lee. The Iraqi Drilling Company (IDC) has successfully drilled a new oil well in the Zubair oil field at a depth of 2,472 meters. The well is the 14th of 37 to be drilled at the field as part of a contract with the Italian company ENI, in cooperation with Schlumberger. This is […]
By John Lee. Iraq's Council of Ministers has approved the recommendation of the Economic Energy Council to sign contracts for the fifth energy licensing round. According to a government statement, the fifth-round projects had been suspended for four years due to "a complaint about the correctness of the procedures." It adds that, "after this file […]
By John Lee. Iraq's giant Nibras (Nebras) petrochemical project looks set to be revived, according to a statement from the Iraqi government. The Cabinet made a number of decisions relating to the project this week, including: Setting the price of the gas used to operate the project at 1.5 dollars per million British thermal units […]
Dana Gas PJSC has announced its preliminary financial results for the full year ended 31 December 2022: The Company reported net profit of AED 667 million ($182mm) in 2022 as compared to AED 1.16 billion ($317mm) in 2021. Excluding other income and impairments, Dana Gas reported adjusted net profit of AED 718 million ($196mm) as […]
By John Lee. Iraqi President, Dr. Abdul Latif Jamal Rashid, received Russian Foreign Minister Sergey Lavrov and his accompanying delegation on Monday. President Rashid highlighted the importance of enhancing economic cooperation between the two countries, pointing to the need for coordination and consultation on issues of common interest including security and peace in the region […]
By Bachar Halabi for Argus Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Basrah-Aqaba oil pipeline 'will never be': Iraq militia Iraqi aspirations to move ahead with a long-planned crude pipeline from Basrah to Aqaba in Jordan have been dealt a major blow […]
By John Lee. Iraq's Ministry of Oil has announced preliminary 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 […]
