Iraq Calls for Major Investment in Refineries
Iraq Deputy Prime Minister for Energy, H.E Dr Hussein Al-Shahrestani, will announce large-scale investment opportunities in Iraq’s refining industry at the Iraq Refinery 2012 conference (www.iraqrefinery.com) on 17 -18 April 2012 in London. Major incentives for foreign investment already include discounted oil and acreage. The conference will represent the largest ever gathering of Iraqi oil […]
Weekly Security Update for 21st March 2012
As security measures are heightened ahead of the Arab League Summit in Baghdad levels of violence fell in Iraq last week with 26 people killed and 22 injured in nationwide incidents. This was a drop by half from the previous week and a very low figure in general for the country. However, a spate of […]
China to Drill 30 New Wells at Halfaya by End-2012
The head of the state-run Missan Oil Company, Ali Maarij, has said that the China Petroleum Engineering & Construction Corporation (CPECC), the engineering and construction subsidiary of the China National Petroleum Company (CNPC), has drilled 13 new wells at the Halfaya oil field, and plans to drill 17 more by the end of the year, […]
Iraq to Support Sri Lanka with Crude Oil
Iraq has offered "substantial quantities" of crude oil to Sri Lanka, as the island looks for alternatives to Iranian crude, according to AFP. Iran supplies nearly 92 percent of Sri Lanka's imported crude, but will stop crude oil imports from Iran from 29th March, ahead of the US deadline of 28th June. (Source: AFP)
Expat Oil Execs Earn $355k in Iraq
A study by the recruitment consultants Curzon Partnership showed that executives working in Libya or Iraq can expect a total salary of around $354,900. This compares to a total salary to $454,400 a year in Nigeria, representing a 45 percent premium over salary levels in Britain for working abroad. Oil industry executives in Indonesia can […]
Jazeera Airways to Fly to Najaf
Following the successful bilateral discussions between the governments of Kuwait and Iraq, Jazeera Airways announced that it has secured rights to operate the Kuwait-Al Najaf route and intends to launch the route within the next six months. Jazeera Airways, which currently operates 18 non-stop routes in the Middle East from Kuwait, will be the first […]
Lukoil to Sign $998m Deal with Samsung on West Qurna-2
Bloomberg reports that Lukoil, Russia’s biggest non- state oil producer, will sign an agreement with Samsung this week for the development of the West Qurna-2 oilfield. Samsung will install “a crude-gathering facility and a central processing plant for West Qurna-2,” the Iraqi Oil Ministry said on Tuesday. The deal is expected to be signed on 22nd […]
Technical Problems Halt Oil Exports from New Iraq Terminal
Technical glitches have halted exports from Iraq's new offshore oil export terminal for the past week after it loaded just a single tanker, two sources at the state-owned South Oil Company said on Tuesday, according to Reuters. The first of four single-point mooring (SPM) terminals, which are being built by Australia's Leighton Holdings, opened on […]
Genel Shares Unchanged on $58m Loss
Shares in Genel Energy were largely unchanged following the announcement of a $58 million loss in its first set of year-end results. Highlights Successfully raised $2.1 billion through an IPO in June Established a top-class, highly experienced Board and management team Merged with Genel Energy International, gaining a world class portfolio of assets and readmitted […]
Sterling Energy Falls 5.7% on Results
In its announcement this morning of results for the year to end of December 2011, Sterling Energy gave the following review of its operations at the Sangaw North block in Iraqi Kurdistan, in which it has a 53.33% working interest: The Sangaw North block lies in the foothills region of the Zagros fold belt, approximately […]
Entico Corporation Prepares its Third Iraqi Summit
The Entico Corporation is pleased to announce the Maysan and Thi Qar Reconstruction & Investment Summit on the 12th and 13th of May at the Grand Hyatt Hotel, Dubai, UAE. The event will be held under the patronage of H.E. Dr Khudier AlKuzai, Vice President of Iraq. The southern Iraqi provinces of Maysan and Thi […]
Violence Overshadows Summit
After a long series of attacks against the police, it is the Iraqi government which appears to have been the primary target in the latest bout of attacks in Iraq. A spate of at least 26 bombings and shootings around the country left dozens of people dead on 20 March. Incidents were recorded in Abu […]