IBN to sponsor Basra Oil & Gas 2011
Iraq Business News is to be the Official Digital Media Sponsor for the Basra Oil & Gas Conference 2011. Publisher Antony Wakeham describes the conference as "undoubtedly the up and coming O&G event in Iraq. We are proud to have been chosen as Official Digital Media Sponsors for 2011". In one year Iraq Business News […]
Iraqi Cabinet Approves US Fighter Jet Deal
An Iraqi Government spokesman said on Wednesday that the Council of Ministers have approved the purchase of 18 F-16 Falcon military aircraft as part of a weapons deal signed with the U.S. administration. Ali al-Dabbagh said in a news conference today following the Cabinet meeting that the U.S. will deliver the aircraft to Iraq within […]
Weekly Security Update for 26th January 2011
Overview Last week was one of the most violent in Iraq for several months. Over 120 people were killed and several hundred injured in a spate of suicide attacks. The total number of attacks reported did not significantly increase, but with at least seven of the attacks involving suicide bombers in very crowded areas it […]
Heritage Oil Discovers Gas in Kurdistan, Shares Fall
Shares in Heritage Oil fell 17% this morning following their announcement of a major gas find in Kurdistan. [UPDATE: the shares ended the day down 29%] While the discovery is very significant, the market was hoping for oil rather than gas, leading to a share sell-off. The full text of the announcement follows: Heritage Oil […]
Iraq's Oil Exports from Southern Ports Jump
Iraq’s oil exports from Iraq's southern ports have jumped by 300,000 barrels per day (bpd) so far in January, according to shipping data reported by Reuters. Exports from the al-Basra Oil Terminal (ABOT) (pictured) and Khor Al Amaya averaged 1.8 million bpd from January 1 to January 24, up from 1.5m bpd in December. The […]
Syria/Iraq Pipeline Tenders to be Issued Soon
Syria and Iraq have reached a final agreement to build two oil pipelines and a gas pipeline between their two countries, and tender invitations will be issued soon, Syrian Oil Minister Sufian Alao [Suffian Alao] (pictured) was quoted as saying on Tuesday. Alao was quoted by Syrian newspaper Al-Thawra as saying an existing oil pipeline […]
Halliburton Reaches Profitability in Iraq
Announcing a 60% increase in net income for 2010, Halliburton's chairman, president, and chief executive officer, Dave Lesar (pictured), commented on the company's Iraqi operations: “I am very pleased with our results on the international front. Key markets including Norway, West Africa, Iraq, and Algeria experienced increased activity ... We continue to win significant additional […]
Iraq Central Bank Assets at Risk?
Following the Supreme Court decision to place several independent bodies under the control of the Iraqi cabinet, rather than the parliament, a legal expert has said that the Central Bank of Iraq is an independent body that cannot be linked to the Cabinet. According to the report from AKnews, the Central Bank of Iraq warned […]
Maliki "Coup" Denounced by Critics
Iraqi Prime Minister Nouri al-Maliki has won a court ruling placing independent bodies like the central bank and the electoral agency under the control of the cabinet, rather than the parliament, a centralization of power that critics are calling a "coup." Maliki's government made the request to the supreme court in December before he was […]
BACTEC International Opens Office in Basra
BACTEC International Limited, one of the world’s leading Explosive Ordnance Disposal and Mine Action companies, announced the opening of its Basra office in January. The company’s head quarters are located in the UK with branches in Australia, Cambodia, Libya, Lao, Philippines and Mozambique. BACTEC also has an office in Sulaimani to support Kurdistan operations. BACTEC […]
Iraq to Double Refinery Capacity by 2020
Iraq plans to double refining capacity by 2020 to meet domestic demand and allow for exports, according to an article from Bloomberg. Iraq plans to increase its daily oil-processing capacity to 1.5 million barrels by the end of the decade from 750,000 barrels today, Iraqi Deputy Minister Ahmed al-Shamma told reporters in Tokyo on Tuesday. […]
JX Holdings to Develop Giant Nassiriya Oilfield?
There is a chance Iraq may hold one-on-one talks with a Japanese consortium led by JX Holdings to develop the giant Nassiriya oilfield, Iraq’s Deputy Oil Minister Ahmed al-Shamma said today, adding that a decision would depend on the policy of the new government in Baghdad. The comments came after the country's Deputy Prime Minister […]