By John Lee. [Correction: After publication, the Oil Ministry issued a "clarification", stating that Aramco is merely "studying cooperation mechanisms" with regard to Akkas.] Iraq's Minister of Oil has announced an agreement with Saudi Aramco to invest in the development of the Akkas gas field in Anbar province. During his participation in the Iraqi-Saudi Coordination […]
Dana Gas has announced its financial results for the first quarter ended 31 March 2023. For the first quarter of 2023, the Company generated a net profit of AED 183 million ($50 million) as compared to AED 198 million ($54 million) in Q1 2022. Profitability for the quarter dropped just 7% compared to a 22% […]
By John Lee. Iraq's cabinet has approved a plan to refer the second phase of the gas drying project for the Gharraf oil field to a consortium consisting of the State Company for Oil Projects (SCOP), which is part of the Ministry of Oil, and the Italian company Progetti Europa & Global S.p.A. (PEG). The […]
From Rudaw. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq to achieve gas self-sufficiency within 3-5 years: Sudani Iraqi Prime Minister Mohammed Shia' al-Sudani on Wednesday said that gas projects and an agreement with French energy giant TotalEnergies will make the country self-sufficient […]
By John Lee. Iraq's Minister of Oil, Hayan Abdul-Ghani (pictured), visited the East Baghdad oil field in Nahrawan and Suwayrah regions, expressing a commitment to increase crude oil production and invest in associated gas. The field currently produces 30,000 barrels per day, with a peak production goal of 40,000 barrels per day under the 2018 […]
By John Lee. Gas operations have begun at the Akkas gas field in Anbar governorate. A statement from the Ministry of Oil said production of 60 million standard cubic feet per day (MMSCFD) is being used to produce 90-95 megawatts of electricity. The State Company for Oil Projects (SCOP) built a 30-kilometer pipeline (pictured) to […]
By John Lee. The Iraqi Prime Minister has said that Iraq will achieve self-sufficiency in gas within three years. Speaking at the final signing ceremony of the contracts for the fifth licensing round on Tuesday, Mohammed Shia Al-Sudani said the cost of importing gas is up to 10 trillion dinars [$6.8 billion] annually. Iraq also […]
Dana Gas PJSC has announced its preliminary financial results for the full year ended 31 December 2022: The Company reported net profit of AED 667 million ($182mm) in 2022 as compared to AED 1.16 billion ($317mm) in 2021. Excluding other income and impairments, Dana Gas reported adjusted net profit of AED 718 million ($196mm) as […]
By Simon Watkins for the OilPrice.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq Pushes Key Gas Developments To Reduce Import Dependence On Iran Iraq is advancing some key associated gas projects at the Gharraf and Nassiriya oil fields. Click here to read […]
By John Lee. US-based Baker Hughes has reportedly signed a contract with state-owned Dhi Qar Oil Company (DQOC) to increase production of associated gas at the Nassiriya and Gharraf [Garraf] (pictured) oilfields. Anwar Hadi Shiaa, a director of the DQOC, told the state-controlled Iraqi News Agency that the company aims to increase the gas production […]
Dana Gas PJSC has announced its financial results for the half year ended 30 June 2022. In the first six months of the year, the Company generated a net profit of AED 407 million ($111mm) or 5.8 fils per share, an 82% increase compared to an adjusted net profit (excluding reversal of impairment) of AED […]
By John Lee. The Minister of Oil, Ihsan Abdul-Jabbar Ismail, has said that Iraq is committed to reducing carbon emissions through implementing a number of gas investment projects and developing gas fields, as well as projects to produce solar energy. At a conference in Iraq under the title "Pathways for a lower carbon future for […]
