Iraqi Kurdistan Oil Output Capacity to Soar
The KRG's oil minister, Ashti Hawrami, told CWC‘s Iraq Petroleum 2012 conference in London that crude oil production capacity in the Kurdistan region is 300,000 barrels a day, and is expected to hit 400,000 barrels a day by the end of next year. Production capacity is expected to increase further to 1 million barrels a […]
Giant Tank Farm Needed in Southern Iraq
A leading Iraqi energy adviser says the country may need to invest in as many as 120 crude oil tanks, each with a capacity of half a million barrels. Speaking at CWC‘s Iraq Petroleum 2012 conference in London, Dr Mussab al Dujayli, a former Director General of Iraq's State Oil Marketing Organization (SOMO), said that […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 21st June 2012). Please click here to download a table of listed companies and their associated ticker codes. ID1,300 / $1.418, (+0.7%) (weekly change). The number of week traded shares was 44.4bn and the weekly trading volume was ID41.1bn ($34.5mn). ISX Company […]
Kurdistan to Build $5.9m Dam in Sulaimaniya
KRG's Ministry of Agriculture and Water Resources has signed a contract to build a dam in the Qaradakh parish of Sulaimaniya, reports AKnews. The Chami Smora project will cost 6.96 billion IQD (approx. $5.9 million), and the companies Birkar and Zhina Gharib have undertaken to complete it within 820 days. The dam will be 20 meters […]
Iraq picks Petrofac for $95m SPM Contract
Reuters reports that Petrofac has won a $95 million contract to carry out maintenance work for Iraq's new offshore terminals and sub-sea pipelines at the Gulf. The contract involves maintenance work to ensure there are no leakages in the pipelines or any faults at the two new single point mooring (SPM) terminals that may delay […]
Heritage Oil Starts Drilling at Miran West-4
Heritage Oil has announced that it has commenced drilling the Miran West-4 appraisal well in Kurdistan. Highlights: The Miran West-4 appraisal well has commenced drilling on the Miran Block in Kurdistan This is the fifth well to be drilled on the large Miran field and the fourth on the Western structure. The well is designed […]
Zain Iraq Invests $20m to List on Stock Market
Iraq's biggest mobile phone operator, Zain Iraq, has invested about $20 million in its efforts to list on the local stock exchange, according to a report from Reuters. Chief executive Emad Makiya told the agency: "We have invested a lot of money. We have invested over $20 million in this. We have hired lawyers, we […]
Pipe Dreams or Reality? The Real Deal Behind Turkish-Kurdish Oil Plans
In May, Turkey and Iraqi Kurdistan announced they would build pipelines taking oil and gas from Iraq into Turkey, then possibly Europe. But according to this article from NIQASH behind the energy dream, lurks a nightmare of militant Kurdish independence fighters and the spectres of energy giants, Iran and Russia. Any opinions expressed are those […]
A Smart Move by Maliki? Evoking the Stability Argument on KRG Oil Deals
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. […]
Heritage Oil Operational Update
Heritage Oil has issued the following update on operations: Highlights The Miran West-4 appraisal well will shortly commence drilling on the Miran Block in Kurdistan. It will be the third appraisal well drilled on the Western structure The well is designed to further appraise the oil potential of the Upper Cretaceous reservoir It is intended […]
Rosneft to Take Over LUKoil's West Qurna Field?
LUKoil has reportedly offered Rosneft its African and Iraqi projects in a swap for Arctic shelf cooperation. LUKoil CEO, Vagit Alekperov, said on Thursday: “We have offered them our geological prospecting assets abroad. So far, talks are underway. We have offered them a whole package. If they are interested, we’ll offer them West Africa and […]
Iraq to Buy F-16 Radar Systems from Northrop Grumman
Northrop Grumman Corporation (NYSE:NOC) has received an $87.8 million foreign military sales (FMS) contract to provide the APG-68(V)9 airborne fire control radar to Thailand, Iraq and Oman for use on F-16 fighter aircraft. The company will deliver six radar systems to the Royal Thai Air Force, 22 radar systems to the Iraqi Air Force and […]