By John Lee. The US oil company Chevron has signed an agreement with Iraq's Basra Oil Company (BOC) and Dhi Qar Oil Company (DQOC) to provide expertise and services, including seismic surveys, to the Iraqi companies. Assim Jihad, Spokesman for the Ministry of Oil, said the Ministry aims to sign more memorandums of understanding with […]
By John Lee. Chevron has reportedly announced that it had resumed drilling operations at the Sarta-3 well in Iraqi Kurdistan. The US company temporarily suspended operations in October following the controversial independence referendum, which increased tensions between Baghdad and Erbil. According to Kurdistan 24, it currently operates and holds an 80-percent contractor interest in two […]
The Iraq Britain Business Council (IBBC) held its bi-annual Council Meeting on 30 January, followed by a Reception & Dinner for IBBC members and guests. Both the meeting and the reception and dinner were hosted by Baroness Nicholson of Winterbourne, President of IBBC and Trade Envoy to Iraq, Azerbaijan, Kazakhstan and Turkmenistan. The Meeting was […]
By John Lee. US-based Chevron plans to resume drilling at the Sarta 3 block in Iraqi Kurdistan. According to a report from Bloomberg, the company had temporarily halted exploration work in October after the Kurds voted in favour of independence. Chevron acquired Reliance Exploration & Production DMCC's 80 percent interest and operatorship of the production sharing contracts […]
By John Lee. Iraqi Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] (pictured) has reportedly said that Chevron and Total have expressed interest in developing the Majnoon oilfield. Oil giant Shell is trying to sell its stake in the field following a failure to reach agreement with Iraq’s Ministry of Oil. Reuters quotes the Minister as […]
By John Lee. Chevron has become the latest member of the Iraq Britain Business Council (IBBC), joining 57 other world- and region-leading organisations that form IBBC’s membership. The company operates and has an 80 percent interest in the Sarta production-sharing contract (PSC) and the Qara Dagh PSC (pictured). The two blocks cover a combined area […]
By Dilshad Abdullah for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. International oil companies pull out of Kurdistan Exxon Mobil has pulled out of three of the six exploration blocks it operated in the Kurdistan Region. The American oil giant withdrew […]
By John Lee. While describing its activities in Iraq as 'muted', oil services company Schlumberger gave details of two projects in the country in its Second-Quarter 2015 Results. Italy's ENI awarded the company a three-year integrated well construction contract which covers the drilling of 30 wells and includes the provision of land drilling rigs, directional […]
By Madeleine White, capacity building specialist and co-founder of Nina Magazine For Arabic please go to arabic.nina-iraq.com It was the third and final day of last week's Iraq Petroleum conference, hosted by CWC in London. It was breakfast time and I was just about to take a second bite of my croissant, when the guy next […]
By John Lee. The US Supreme Court has rejected an attempt by Iraq to revive a lawsuit against companies for allegedly conspiring with Saddam Hussein's government to subvert the United Nations oil-for-food program. According to the Reuters report, more than 80 companies and other entities were named as defendants in the 2008 lawsuit over the […]
By John Lee. According to a report from Reuters, a US federal appeals court has rejected Iraq's effort to sue dozens of companies for allegedly conspiring with the Saddam Hussein regime to subvert the United Nations' oil-for-food programme and deprive Iraqi citizens of humanitarian aid. The court said Iraq's government could not recoup damages under […]
By Patrick M Schmidt. As the United States begun strikes against Islamic State of Iraq and the Levant (ISIL) militants, Canadian oil firm, Oryx, began evacuations of staff from their facilities in the Kurdistan region. The company announced that portion of its Demir Dagh oil field had been shut down. Drilling and other operations continued […]
