Iran Envoy Vows Close Economic Ties with Iraq
Iran's new ambassador to Iraq said that trade between the one-time rivals will double in the near future, even as his country is under stringent international sanctions over its nuclear program, according to a report from BusinessWeek. The prediction by Hassan Dannaie Fir reflects the strengthening of relations between the two Shiite-led neighbors who fought […]
ShaMaran Announces Amendment to Pulkhana and Arbat PSC
ShaMaran Petroleum Corp. (TSX VENTURE:SNM) has announced that the Company has entered into an agreement with the Kurdistan Regional Government of Iraq ("KRG") to amend the Pulkhana Block 10 and the Arbat Block Production Sharing Agreements ("PSC"). The amendments relieve the Company of its contractual requirement to allot 150 million common shares of ShaMaran for the […]
Baker Hughes and Iraqi South Oil Company Sign Strategic Alliance
Baker Hughes (NYSE: BHI) announced it has signed a three-year strategic alliance with Iraq’s South Oil Company (SOC) to provide technical services to SOC’s wireline logging department in Burj Esya, Basra south Iraq. Under the terms of the technical services agreement (TSA), Baker Hughes will supply wireline technologies to SOC and other Iraqi oil and […]
WesternZagros 2Q Results
WesternZagros Resources Ltd. (TSX VENTURE:WZR) ("WesternZagros" or "the Company") provides its results for the period ended June 30, 2010, key highlights, and activities to date. During the second quarter, the Company continued to drill the Kurdamir-1 well sidetrack. At a depth of 3,214 metres the well encountered high-pressure sour gas which resulted in well control […]
Weekly Security Report for 12 Aug 2010
National Overview The reporting period saw a significant rise in the number of recorded incidents in Baghdad, as Al Qaeda in Iraq and Al Qaeda in Iraq Associated Movements seek to re-establish their grip on the City. An attack on an Iraqi Police check point that resulted in an Al Qaeda in Iraq flag being […]
If You're Not In, You Can't Win
Iraq is starting the holy fasting month of Ramadan in blistering summer heat: up to 49 C (120 F) in places! It has been a hot week for oil news too: The Korea National Oil Corp (KNOC) hits oil in the Bazian and Sangaw North blocks in Kurdistan; Dana Gas has increased gas its production […]
Dana Gas Iraq Output Nearly Doubles
Dana Gas PJSC, the Middle East’s largest regional, private sector, natural gas company, has announced its financial results for the quarter ended 30th June 2010. Revenue from the sale of hydrocarbons increased to AED 428 million, with gross profit reaching AED 179 million. These figures represent increases of 41% and 84% respectively, compared to the […]
Bomb Closes Kirkuk-Ceyhan Oil Pipeline
A bomb attack stopped the export of oil through the Kirkuk-Ceyhan pipeline on Tuesday, and killed two people and wounded a third after their vehicles caught fire on a road that runs alongside the link. Reuters, citing a spokeswoman for Botas, Turkey's state-run pipeline operator, reported on Wednesday evening that "the fire continues, and the […]
$299m Shatt al-Arab Canal Project Underway
Preparations have begun on the concrete-layered transportation canal of the Shatt al-Arab Irrigation Project. “The total cost of the project will be around $299 million [350 billion Iraqi dinars],” the Iraqi Water Resources Ministry said in a press release on Tuesday, received by Aswat al-Iraq news agency. It noted that the canal will be 128 […]
Major Iraq Oil Conference in Istanbul
2009 was a momentous year for Iraq’s oil and gas sector, for the first time in more than three decades, two bidding rounds took place. What was on offer? Development of just some of the countries prized oil and gas fields. In a country where investment from the world’s IOCs is vital to its development […]
$8.7 Billion Missing - NGOs Blame Lack of Accountability
The NGO Coordination Committee in Iraq (NCCI) has issued the following statement regarding the $8.7 billion of Iraqi funds that cannot be accounted for: Last week, the US Special Inspector General for Iraq Reconstruction (SIGIR) issued an audit stating that the Pentagon cannot account for 96 percent of $9.1 billion that was set aside for […]
37th Baghdad International Fair
A large group of international companies have showed their interest in participating in the 37th Baghdad International Fair, due to take place in Baghdad from 1st to 10th of November. "Several countries, including France, Turkey, Iran, Japan, and India agreed tp participate in the fair, as well as local and foreign private sector companies", a […]