The Iraqi oil ministry is said to be still considering whether to allow Exxon Mobil to bid in the country's 4th energy licensing auction, lifting a ban that was imposed because of the deal it struck with the Kurdistan Regional Government (KRG). "We are going to discuss this matter in the ministry and, God willing, […]
Reuters reported at the weekend that Iraq's government has received a letter from Exxon Mobil saying the it had frozen its deal with the Kurdistan Regional Government (KRG), but other reports say this has not happened. "We received a letter from Exxon on March 5 saying they are freezing the contract with the Kurds," oil […]
ExxonMobil has reportedly reached an agreement with Baghdad to be paid in oil for work on the huge West Qurna-1 oilfield. According to the report from Reuters, foreign oil companies involved in Iraq's oil expansion generally prefer to be compensated for capital expenditure and service fees in oil, because cash payments are more complicated to […]
More than £1 billion ($1.6 billion) was wiped off the value of Gulf Keystone Petroleum (GKP) during trading on Tuesday, as its share price fell by one third to 228.5p. Some of those losses have been recovered on Tuesday afternoon and Wednesday morning, with the shares currently changing hands at 275p. The falls were attrributed […]
ExxonMobil has reportedly asked the Iraqi central government to give it a few more days to decide whether or not it will cancel an exploration deal with the Kurdistan Regional Government (KRG). Baghdad has asked the U.S. giant to choose between the KRG deal and the existing contract with central-government to develop the 370,000 barrels-a-day […]
Advertising Feature Iraq Business News is delighted to bring you the latest Iraq Market Tracker report from Dunia Frontier Consultants. The market tracker highlights the activities and market performance of a basket of publicly traded firms who derive a significant percentage of their revenues from operations in Iraq, but are traded on foreign exchanges: a […]
Long-term investors in many Iraq-focused oil companies have had their patience amply rewarded, as shares in companies such as Gulf Keystone Petroleum (GKP) and DNO have registered significant gains. Tony Hayward, CEO of Genel Energy, puts this down in part to ExxonMobil's entry into Kurdistan, which has highlighted the opportunities in the region. So much […]
Advertising Feature Iraq Business News is delighted to bring you the latest Iraq Market Tracker report from Dunia Frontier Consultants. The market tracker highlights the activities and market performance of a basket of publicly traded firms who derive a significant percentage of their revenues from operations in Iraq, but are traded on foreign exchanges: a […]
ExxonMobil has finally broken its silence regarding its plans to explore for oil in Iraqi Kurdistan. In the company's 10k statement filed on Friday, it says: "During 2011, production sharing contracts were negotiated with the regional government of Kurdistan ... Exploration and production activities in the Kurdistan region of Iraq are governed by production-sharing contracts […]
Advertising Feature Iraq Business News is delighted to bring you the latest Iraq Market Tracker report from Dunia Frontier Consultants. The market tracker highlights the activities and market performance of a basket of publicly traded firms who derive a significant percentage of their revenues from operations in Iraq, but are traded on foreign exchanges: a […]
Statement by the office of the Deputy Prime Minister of Iraq, Dr Rowsch Shaways: In the last few days, some media outlets have reported statements by federal Iraqi government officials related to the oil contract with Exxon Mobil and a potential contract with Total. These statements have drawn the attention of many local and foreign […]
ExxonMobil is to be excluded from Iraq's fourth licensing auction because of its deals in Iraqi Kurdistan. "The Iraqi government has decided that Exxon won't be allowed to participate in the next oil and gas bidding round," Faisal Abdullah, a spokesman for Iraq's Deputy Prime Minster for Energy, Hussein al-Shahristani, said on Monday. "We are […]
