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 Minister of Oil, Hayan Abdul-Ghani, has announced several investment opportunities in the oil refining sector: Maysan Refinery [Missan Refinery], with capacity of 150,000 barrels per day (bpd); Qayyarah Refinery in Nineveh governorate, with a capacity of 70,000 bpd; A black oil hydrogenation project in Basra Governorate, with a capacity of 30,000 […]
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. Ban On IOCs In Iraqi Kurdistan May Be Lifted The recent signing by Iraq's federal government in Baghdad of three long-term oil and gas sector contracts with the UAE's Crescent […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The recent appointment of Ammar Al-Anbagi as the new, a twelfth in a row, director general of Iraq's State Oil Marketing Organization (SOMO), might be an opportunity to review the path of […]
By Salam Jabbar Shahab for The Middle East Institute. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Youth dynamics and Iraq's energy future The next few decades will be crucial for Iraq and the Kurdistan Regional Government (KRG) as global changes reshape the […]
By Charles Kennedy for the OilPrice.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq's Risky Reliance On Oil Revenues Iraq managed to collect a lot of revenues from oil exports last year due to higher prices, but the Iraqi economy remains heavily reliant […]
By John Lee. Russia's LUKoil and Japan's INPEX South Iraq Ltd have received approval from Iraqi state-owned Thi-Qar Oil Company (TOC) for "Declaration of Commerciality of Reserves and Outline Development Proposal" for the Eridu [Arido] oilfield located within Block 10 in Iraq. Following approval by TOC (also known as Dhi Qar Oil Company, DQOC), LUKoil […]
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 […]
