Tag Archives | BP

The latest news BP Iraq – Oil, oilfields, contracts, production and more – brought to you by Iraq Business News

New Water Injection Facility at Rumaila

One of the most advanced water pumping facilities in Iraq has been constructed at the Rumaila oilfield to help boost oil production and support the field's long-term strategy. Cluster Pump Station Six (CPS-6) is the first CPS facility to be built at Rumaila for around 40 years. It is also the first CPS constructed by […]

Basra Energy Company established to run Rumaila Oilfield

By John Lee. The Iraqi Ministry of Oil has officially established the new Basra Energy Company (BECL), which will be the main contractor at the giant Rumaila oilfield, under a Technical Service Contract (TSC). Representing BECL at the ceremony, Zaid Elyaseri (BP) said the field will be developed to reach a peak production of 1.7 […]

IBBC's Autumn Conference - Open for Business Engagement

IBBC's Autumn conference is back with a bang and open for business engagement. On 22nd November this year the overarching conference topic is looking to the future with 'sustainability'- whether in terms of energy and renewables, the Iraqi economy and its diversification, or sustaining finance, logistics and training. Underpinning much of this is the application […]

Iraqi Cabinet approves BP Plan to spin off Rumaila

By John Lee. The Iraqi cabinet has approved a plan to restructure the ownership of the giant Rumaila oilfield. The field will be taken over by the newly-created Basra Energy Company (BECL), which in turn will be owned by BP and the China National Petroleum Corporation (CNPC). According to a statement from the Ministry of […]

China to Snap Up Iraqi Oil Assets?

By John Lee. Both BP and Lukoil are reported to be considering quitting upstream oil operations in Iraq. Reuters quotes Iraq's Oil Minister, Ihssan Abdul-Jabbar Ismail, as making the comments during a parliamentary session last week. Last month, BP was said to be planning to spin off its Iraqi operations in Iraq into a separate […]

BP to Spin Off Iraq Operations?

By John Lee. UK-based BP is reportedly considering a plan to spin off its operations in Iraq into a separate company. According to Dow Jones, the new company would be jointly owned by the China National Petroleum Corporation (CNPC), BP's partner in the giant Rumaila project. More here. (Source: Dow Jones)

New Contracts for Iraqi Drilling Company (IDC)

By John Lee. The Iraqi Drilling Company (IDC) has announced its intention to conclude contracts with Chinese and American companies operating in Iraq to drill and rehabilitate dozens of oil wells in the country. The company indicated it is about to start drilling 20 wells in the Nasiriyah field in Dhi Qar, which are included […]

MASIL facilitates Successful Visit of Pope to Iraq

Al Burhan and Menzies MASIL form new joint venture and celebrate a successful Pope's visit to Iraq Al Burhan Group along with Menzies Aviation, have formed a new venture - MASIL. Working together on the logistics of the visit of Pope Francis to Baghdad international airport at the start of the first papal visit to […]

Iraq plans 20GW Solar Power by 2030

By John Lee. Iraq's Minister of Oil has his Ministry's goal is to support the Ministry of Electricity to have 20 gigawatts of solar energy capacity installed by 2030. In a promotional video issued by the Government of Iraq, Ihsan Abdul Jabbar added that the recently-announced partnership with French energy company Total will include the […]

IBBC hosts an Online Council Meeting

The Iraq Britain Business Council (IBBC) hosted members on-line, to discuss their annual council meeting and review its activities. The meeting was due to take place in Dubai, but due to sudden COVID restrictions it took place successfully online. Mr Zaid Elyaseri Vice President of BP Iraq and member of the IBBC Executive Committee, chaired […]