Shell, Iraq, Near $11bn Petrochemical Deal
By John Lee. The Wall Street Journal reports that Shell and the Iraqi government are nearing a deal to build an $11-billion petrochemical facility in southern Iraq. In addition to its development of the Majnoon oil field, Shell also signed a $17.2-billion deal last year to collect natural gas from Iraq's southern oil field production. […]
Oryx Plots Path to Oil Production
By John Lee. As part of its results for Q3 2013, Oryx Petroleum gave the following update on its Iraqi operations: Demir Dagh Appraisal - The Corporation has significantly progressed its appraisal plan for the Demir Dagh discovery. Oryx Petroleum has a 65% participating and working interest in the Hawler license area. Key highlights include […]
ShaMaran Announces Results
By John Lee. ShaMaran Petroleum has announced its financial and operating results for the three and nine months ended September 30, 2013. (Unless otherwise stated all currency amounts indicated as "$" in this news release are expressed in thousands of United States dollars): Highlights The Company announced on October 30, 2013 that its USD 150 […]
DNO Shares Hit New Record
By John Lee. Shares in DNO International, the Norwegian oil and gas company with significant interests in Iraqi Kurdistan, were trading up 5.4 percent on Thursday morning after the company announced third quarter 2013 net profit of NOK 282 million [$45 million] on operating revenue of NOK 810 million [$130 million]. The shares are now […]
Turkey Unlikely to Upset Iraq in KRG Energy Deal
By Semih Idiz for Al-Monitor . Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. It is no secret, thanks to frequent leaks to the media, that energy cooperation between Turkey and the Kurdistan Regional Government (KRG) is continuing apace. This, however, has not broken […]
Baker Hughes Declares Force Majeure in Iraq
By John Lee. Baker Hughes has announced that a protest incident by local residents occurred last Saturday at a subsidiary's facility near Basra. No injuries were suffered and the facility was secured. The incident is currently under investigation. Due to the significant disruption of business, Baker Hughes has suspended operations in Iraq, and has issued […]
Turkey, KRG Clinch Major Pipeline Deals
By John Lee. Iraqi Kurdistan has finalized a comprehensive package of deals with Turkey to build multi-billion dollar oil and gas pipelines. Reuters reports that the deals could see Kurdistan export some 2 million barrels per day (bpd) of oil to world markets and at least 10 billion cubic meters per year of gas to […]
British Oil Worker Attacked for 'Shiite Insult'
By John Lee. A British employee of security firm G4S has reportedly been injured by a group of workers at a Schlumberger camp near the Rumaila oilfield. The Daily Star says the man had tried to remove a picture of Imam Ali, and flags and pamphlets commemorating Imam Hussein, venerated figures in Shiite Islam, allegedly […]
Video: Footage of Disturbance at Rumaila
From Jewish News One. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Disturbing video footage has appeared of dozens of angry Shi'ite Muslim workers storming a Schlumberger Ltd camp at the Rumaila oilfield and beating a British security adviser they accused of insulting their […]
Uncertainty about Changes to Electoral System
By Reidar Visser. The following article was published by Reidar Visser, an historian of Iraq educated at the University of Oxford and currently based at the Norwegian Institute of International Affairs. It is reproduced here with the author’s permission. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. After the […]
Big Oil to spend $25bn in Iraq Next Year
By John Lee. Iraq's deputy prime minister for energy, Hussain al-Shahristani (pictured), has said that 'Big Oil' is about to spend over $25 billion next year to boost oil output towards record levels. He predicted that the southern fields are expected to pump an extra 500,000 bpd in 2014, compared to just over 3 million […]
2,500 Homes for Terror Victims
By John Lee. The Iraqi government has said that construction has begun on a cabinet-approved project to build 2,500 houses for the victims of terrorism. Deputy Prime Minister Saleh al-Mutlaq said: "The project, which the industry, housing and construction ministries began last week, is an initial phase and includes Baghdad, Wasit, Babil and Anbar provinces." The […]