By John Lee. The Kurdistan Regional Government (KRG) has denied seizing the Bai Hassan and Dawd Gurg oil fields in Kirkuk from the Iraqi federal government's Ministry of Oil. On Saturday, the North Oil Company (NOC), which is owned by the Iraqi National Oil Company (INOC), claimed that the KRG took over the fields in […]
By John Lee. The Cabinet held its regular meeting on Tuesday, under the chairmanship by Prime Minister Mustafa Al-Kadhimi. In the presence of the Governor of Najaf, Mr. Majid Al-Waeli, the Cabinet agreed a number of measures to improve public services in Najaf: Construction of a second bridge in the Abbasid district Completion of Ya […]
By John Lee. The President of the Iraqi National Oil Company (INOC) has laid the foundation stone for the $594-million crude oil processing plant at Block 9, within the Al-Fayha Oil Field in Basra Province. Ihsan Abdul-Jabbar Ismail said that the development is important for the production of light oil, with a target for this […]
By John Lee. French-based petroleum consultancy Beicip Franlab has signed a deal to provide consultancy services to the Iraqi Oil Ministry's Reservoirs & Fields Development Directorate. The Minister of Oil and President of Iraqi National Oil Company (INOC), Ihsan Abdul-Jabbar Ismail, said that Franlab will give advice that can be used to develop the oil […]
By John Lee. The China National Offshore Oil Corporation (CNOOC) is to press ahead with oil exploration at a 530-km2 offshore block in Basra. Originally agreed in 2019, the work had been delayed due to the COVID-19 pandemic. In parallel, Iraq's state-owned Oil Exploration Company (OEC) will carry out seismic surveys on the adjoining 120-km2 […]
Writing in Oil Price, Simon Watkins that the recent approval of the Iraqi National Oil Company (INOC)'s acquisition of ExxonMobil's 32.7 percent stake in the West Qurna 1 oil field is likely to leave China delighted, the U.S. irritated, and Iraq's oil industry still unable to achieve any of its key oil output goals. Click […]
By John Lee. The Iraqi cabinet has agreed to allow the Basra Oil Company (BOC) to take over ExxonMobil's holding in the West Qurna 1 oilfield, at a price of up to $350 million. Addressing media after Wednesday's cabinet meeting, Minister of Communications Arkan Al-Shaibani (pictured) said the cabinet also allocated an initial payment of […]
By John Lee. The Iraqi Cabinet has authorised the Iraqi National Oil Company (INOC) to negotiate directly with US oil company Chevron to develop four oil fields in Dhi Qar Governorate. According to a statement from the Ministry of Oil, the fields constitute the Nasiriyah block, which has a target output of 600,000 barrels of […]
Writing about the new Iraqi National Oil Company (INOC) in Oil Price, Simon Watkins argues that the greater the concentration of power over oil and money in one place, the more monumental the scale of corruption becomes. Click here to read the full story.
By John Lee. The Iraqi cabinet has approved a plan for the newly-formed Iraqi National Oil Company (INOC) to be a financial partner with TotalEnergies in its projects in Basra. It said it will support INOC to "maximize revenues and financial returns to the general budget." In September, TotalEnergies signed a number of major agreements […]
By John Lee. The President of the Iraqi National Oil Company (INOC), Oil Minister Ihsan Abdul-Jabbar Ismail, has chaired a meeting with the CEO and management of Angola's Sonangol, the main operator of the Qayara [Qayyarah] oil field in Nineveh Governorate. Also joining the meeting was the management of the North Oil Company (NOC) and […]
By John Lee. The recently-created Iraqi National Oil Company (INOC) has held its first meeting in Baghdad. Among the items discussed were the five-year plan for the oil exploration sector, and what were described as "interim and future production and export plans", in coordination with the State Oil Marketing Organization (SOMO). (Source: Ministry of Oil)
