Atrush Production Update
ShaMaran Petroleum reports that operations in the Atrush field in Kurdistan are continuing in a normal, safe and secure manner. Atrush is currently producing at approximately 27 thousand barrels of oil per day ("bopd") and exports are continuing via the Kurdistan Export Pipeline system. Atrush exports for the month of December averaged 26,163 bopd and […]
AMAR Completes work at Bazwaya Health Centre
The AMAR International Charitable Foundation has announced that work on its new Bazwaya Primary Health Care Centre near Mosul is now complete. The clinic is now fully equipped and locally-hired medical staff have been assigned to support a range of units providing vaccinations, ultrasound, a gynaecology department, dental services, maternal and child care, a malnutrition unit, […]
US gives Additional $75m for Iraq Stabilization
U.S. Ambassador to Iraq Douglas Silliman has announced that the U.S. government is providing $75 million in additional funding to help stabilize Iraq following its full liberation from ISIS. The United States plans to provide a total of $150 million for stabilization efforts in 2018, which will bring the total U.S. contribution to $265.3 million […]
"Lucrative Investment Opportunities" to be announced at Conference
By John Lee. The European Union has announced that it will co-chair a conference on Iraq's Reconstruction and Development in Kuwait in February. In a statement, the EU said the aim of the conference is to help consolidate regional and international engagement in support of Iraq. The conference will be hosted by Kuwait and will […]
US Firm to Harvest Flare Gas at Nahr Bin Umar
By John Lee. Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] has announced an agreement with an American company to invest in the flare gas associated with the Nahr Bin Umar oil field in Basra governorate. The Ministry names the company as "Oren", but Iraq Oil Report identifies it as the Houston-based Orion Gas Processors. A […]
Algeria's Sonatrach to Invest in Iraq
By John Lee. Sonatrach, the state-owned Algerian energy company, is to form a joint venture with Iraq to cooperate in the harvesting of associated flare gas. The will be used for power generation, and in the production of petrochemicals and fertilizers. The deal was agreed during a visit by Algerian Energy Minister Mustapha Guitouni to Baghdad. (Source: […]
New Firms Qualified for next Oil Licensing Round
By John Lee. Iraq's Petroleum Contracts and Licensing Directorate (PCLD) has announced the five additional companies have been approved to bid for Iraq's "borderline onshore & offshore exploration blocks & fields." The companies are listed as: Dana Gas (UAE) Dragon Oil (UAE) Geo-Jade Petroleum (China) Schlumberger (USA) Zarubezhneft (Russia) Eight companies had applied for approval. […]
Petronas confirms Exit from Majnoon Oilfield
By John Lee. Malaysia's Petronas has reportedly confirmed that it will exit from Iraq's Majnoon oil field along with joint stakeholder Shell. A spokeswoman for Petronas told The National: "Petronas confirms its exit from the Majnoon oilfield, Iraq, together with Shell. We will be working with Shell on the handover of the field to the […]
Mövenpick Signs Basra Hotel Deal
Swiss-based Mövenpick has signed a deal to manage a five-star, 152-key hotel in Basra, Iraq"s economic capital and a regional oil and gas hub. The Mövenpick Hotel Basra is scheduled to open in the first quarter of 2018. Located in the center of Basra, within the commercial district of Al Baradi'yah and 25km west of […]
Baghdad "bans" Kar Group from Kirkuk Oilfields
By John Lee. The Iraqi parliament has reportedly banned Erbil-based Kar Group from operating oil fields in Kirkuk. According to Rudaw, it assigned the state-owned North Oil Company (NOC) to take over oil production in the province and export it through Iraq's State Oil Marketing Organisation (SOMO). Reuters reports that Kar Group had been operating some […]
New EU Strategy to Increase Support to Iraq
EU strategy on Iraq: new proposal to strengthen support to the Iraqi people On Monday, the High Representative of the Union for Foreign Affairs and Security Policy and the European Commission adopted a Joint Communication proposing an EU strategy for Iraq in order to address the many challenges the country faces following the territorial defeat […]
Kuwait Gas-Supply Pact -- Iraq "has Much to Gain"
By Salam Zidane for Al Monitor. Any views expressed here are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraq has much to gain from gas-supply pact with Kuwait Kuwait will begin importing natural gas from neighboring Iraq this year, a development welcomed in Baghdad as it could improve Iraq's […]