Syria, Iraq Discuss Cooperation in Oil and Gas
Iraq's Oil Minister, Abdul Kareem Luaibi [Elaibi], has held talks with his Syrian counterpart Sufian Allaw (pictured), according to the Syrian official SANA news agency. The talks focused on reopening the old Iraqi oil pipeline and enhancing cooperation between the two ministries. The two sides also discussed the possibility of benefiting from the gas available […]
150 Foreign Companies Pursued over Oil-for-Food Program
Fadel Mohammed, legal adviser to Prime Minister Nouri al-Maliki, has said that the Iraqi government is currently pursuing more than 150 foreign companies accused of corruption in the UN's Oil-for-Food program. AKnews reports that the government is determined to bring these companies to justice, adding that there are several other companies under investigation. The Oil-for-Food […]
WesternZagros Strikes Oil in Kurdistan
WesternZagros Resources has made an oil discovery in the Upper Fars Formation at the Mil Qasim-1 exploration well in the Kurdistan Region of Iraq. Mil Qasim-1 Discovery Well (Garmian Block) Lower Bakhtiari and Upper Fars Formations Mil Qasim-1 was drilled to a total depth of 2,425 metres in December 2011 ahead of time and on […]
IBN's New Events Page - Promoting Your Show to the World!
In Iraq, as elsewhere, trade fairs, exhibitions and conferences are a very important way of communicating with potential customers and suppliers. Meeting your future trading partners face-to-face is always a valuable experience, and these organised events offer a very efficient means of achieving this in terms of time and cost. To help you plan your […]
Seymour Pierce tips Kurdistan as Key Oil and Gas Region
Kurdistan, along with East Africa and the North Sea, has been identified by an analyst at brokerage Seymour Pierce as a key oil and gas region that is likely to see significant positive momentum this year. Dr Doug Youngson initiated coverage on eleven stocks and picked the three places as his ‘Top Regions’. In Kurdistan, […]
Iraqi Deputy PM Opposes ‘Threats’ Against Oil Companies
The Iraqi Deputy Prime Minister for Economic Affairs, Rosh Shaways [Rowsch Shaways], has asked government officials to stop threatening oil companies that are operating in Iraqi Kurdistan, according to Bloomberg. “These statements will give a negative picture to investors and violate the state’s public policy of opening the economy and promoting investments in all fields,” […]
Leighton may be Expelled from Iraq
Iraq has threatened to expel Leighton Holdings from the country’s lucrative oil and gas fields, following the company's announcement on Monday of an investigation into possible corruption. The deputy head of the Iraqi Oil Ministry’s petroleum contracts and licensing directorate, Sabah Al-Saidi, told The Australian Financial Review he was shocked by claims that Leighton Holdings […]
Basra Approves Another 1857 Housing Units
Basra Investment Commission has approved a project to build 1857 housing units in the Rabet Kabir area. According to AKnews, the investment is valued at $108 million, while Aswat al-Iraq puts the figure at $250 million. An Iraqi company called Falcon is leading the project. The 90 four-storey buildings will accomodate 1440 flats with an […]
Weekly Security Update for 15th February 2012
Levels of violence fell in Iraq last week. At least 19 people were killed and 55 injured in nationwide incidents. This is a relatively low figure for the country. There was a decline in bombings and shootings countrywide. There were no suicide bombings or abductions reported, although a woman was rescued from captivity during a […]
Strong Results from DNO, 19 New Wells Planned
DNO International ASA, the Norwegian oil and gas company, today announced record operational and financial results for 2011 and unveiled the most extensive drilling program in its 40-year history as it accelerated plans for a listing on the London Stock Exchange later this year. Working interest (WI) production in 2011 more than doubled to 39,966 […]
Iraq Plans to more than Double Northern Oil Output
Iraq aims to more than double oil production in its northern region by the end of 2014, according to a report from AFP. Hamid Abdelrizak al-Saadi, general manager of the North Oil Company, said the planned increases for various fields would bring the total to about 1.3 million bpd, from a current level of about […]
Real Madrid to Open 4 Soccer Academies in Kurdistan
The Kurdistan Regional Government's (KRG) Minister of Sports and Youth, Kawa Mahmoud, has announced that Spanish soccer club Real Madrid is to open four soccer schools in the region. According to a report from AKnews, the opening of the schools has been seen by officials in Kurdistan Region as a significant project that will greatly […]