Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. Iraq has re-started the export of crude oil by road to Jordan. Jordanian Minister of Energy and Mineral Resources, Dr. Saleh Al-Kharabsheh (pictured), announced on Monday that loading had commenced at Kirkuk, instead of the previous site at Baiji. The memorandum of understanding (MoU), which was signed on 28th January 2021, has […]
By John Lee. Iraq's Minister of Oil, Ihsan Abdul Jabbar Ismail, has stressed the importance of developing the Eridu (Arido) oilfield in Block 10, which is in the Muthanna and Dhi Qar provinces. This came during a meeting with Lukoil's Vice President for Central Asia, Middle East, and North African affairs, Stepan Gorgi, and his […]
By John Lee. Iraq's Ministry of Oil is increasing its in-house capacity to maintain its export terminals in southern Iraq, with the acquisition of new purpose-built ships. The Executive Director of the Iraqi National Oil Company (INOC), Hamid Younis, said that Safwan (pictured) will arrive in the coming days. It has the capability to assist […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Ending ExxonMobil Presence in WQ1 Oilfield Legal-Contractual Discussion with Economic-Financial Analysis Information indicates that the Iraqi Ministry of Oil (MoO) proposed to acquire (buy) ExxonMobil's participation interest (PI) in the West Qurna […]
By John Lee. Iraq's first hydrogen production and compression unit has been opened at the Ministry of Oil's Oil Research and Development Centre. The unit, which is for research purposes, can produce hydrogen with a purity of 99.5 percent, and compress it to 150 bar. A statement from the Ministry said that this is sufficient […]
By John Lee. According to a report from Reuters, oil production in Iraqi Kurdistan could almost halve by 2027 if there is no new exploration or major investment in the sector. Click here to read the full report. (Source: Reuters)
By John Lee. Iraq's Ministry of Oil has announced preliminary oil exports for August of 101,859,528 barrels, giving an average for the month of 3.286 million barrels per day (bpd), down from the 3.303 million bpd exported in July. The exports from the oilfields in central and southern Iraq amounted to approximately 100,750,000 barrels, while […]
By John Lee. The US's newly-appointed Consul General in Erbil has said that existing contracts between international oil companies (IOCs) and the Kurdistan Regional Government (KRG) must be respected. Consul Irvin Hicks Jr. made the comment following a meeting with the KRG's Minister of Natural Resources, Kamal Muhammed Salih, on Wednesday. In a statement issued […]
Gulf Keystone Petroleum (GKP) has today announced its results for the half year ended 30 June 2022. Jon Harris (pictured), Gulf Keystone's Chief Executive Officer, said: "With the strengthening oil price and increased production, we have delivered strong profitability and cash flow generation in the first half of the year. As we progress towards approval […]
From the Kurdistan Regional Government: The Kurdistan Regional Government strongly condemns the letter issued on 23 August 2022, by Iraq's State Oil Marketing Organization (SOMO) that threatens legal action against buyers and traders of crude oil produced in the Kurdistan Region. SOMO's letter is nothing more than another drip in a stream of disinformation published […]
By John Lee. Three companies have reportedly stopped operations at Kurdistan's Khor Mor gas field following rocket attacks. According to Reuters, the companies are Texas-based Exterran, and Turkish subcontractors Havatek and Biltek. The field is operated by Pearl Petroleum, a consortium led by UAE-based Dana Gas and Crescent Petroleum. More here. (Source: Reuters)
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Will oil dispute with Baghdad shift dynamics within Iraqi Kurdistan? In Iraq, the federal government and the authorities in the Kurdistan region are locked in a serious and multipronged dispute over the country's […]
