The latest news from Iraq – oil, gas, business and more – brought to you by Iraq Business News
By John Lee. Gas from the South Pars field in Iran could be supplying power stations in the province of Basra within a year, reports UPI. A pipeline currently under construction will run from Asaluyeh to Iraq's southern city of 2 million people, and may later extend to Syria, depending on conditions "after the war" according […]
By John Lee. DNO International ASA, the Norwegian oil and gas company, today announced first quarter 2014 net profit of USD 24 million on operating revenue of USD 113 million. Production climbed by more than a quarter from the previous quarter to 45,744 barrels of oil equivalent per day on a company working interest (CWI) basis. The […]
By John Lee. Petroceltic International plc, the independent oil and gas exploration company focused on the Middle East, North Africa, Mediterranean and Black Sea regions, has announced an update on its operations in the Kurdistan Region of Iraq, Egypt and Romania. Below we have included their operations update for the Kurdistan region of Iraq: Kurdistan: The Shakrok-1 […]
By John Lee. Once a scene of bloody fighting during the Iran-Iraq war, Majnoon is now an oil field of vital economic importance for Iraq. Royal Dutch Shell's announcement marks a crucial step in its development since the discovery of the field in 1975. After a lull in development during the sanctions era of the […]
By John Lee. Bayshore Petroleum Corp is pleased to announce that it has entered into a Letter of Intent with International Enhanced Petroleum Services (EPS), a private UAE company with its registered office located in the Jebel Ali Free Zone, UAE and operating in Iraq, to construct a pilot heavy oil upgrading facility utilizing a […]
By John Lee. Iraq's minister of housing and construction Mohammed al Daraji has announced the completion of a 500 unit housing complex in Najaf, Iraq. Iraq is currently in the middle of a major drive to build 2 million new housing units, and a number of international construction firms are working on projects within Iraq […]
By Hassan al Najm for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Lt. Gen. Michael Bednarek, chief of the US Office of Security Cooperation-Iraq, said that the Iraqi government and armed forces are working on countering terrorism in cooperation with the United […]
By John Lee. Iraq has announced the award of two contracts totalling nearly a billion dollars to Britain's Petrofac and China's CPECC, Reuters reports. The deals, for services at the super-giant Rumaila field near Basra, were worth $535.8 million for Petrofac and $425 million for China Petroleum Engineering & Construction Corporation. Rumaila is a field of key strategic […]
By John Lee. For our more athletic readers in the US, we are pleased to announce a special charity event in Alexandria, Virginia on the 10th of May. Impressively, Iraq's Ambassador to the US Lukman Faily (pictured) will be the Distinguished Guest Runner having recently run in the Boston Marathon. This looks like a fun […]
By John Lee. The Iraqi government has announced that it will shortly offer licenses to mobile operators to give customers 3G internet service, AFP reports. The colossal increase in mobile phone ownership in Iraq post 2003 has been one of the notable developments in the country, a nation which still has a highly limited fixed-line network. Mobile […]
By John Lee. Iraq's oil exports were up to 2.5 million bpd for April, an increase on March's exports of 2.4 million bpd, despite the inactivity of the major northern Kirkuk-Ceyhan pipeline, which has been inoperable due to insurgent sabotage. A statement from the ministry of oil said that April's total of 75 million barrels […]
By John Lee Iraq's Independent High Electoral Commission has confirmed that the final official results of the April 30th elections will be announced on the 25th of May. So far a number of sources have released preliminary results, or what they have described as a first count. Elsewhere, various parties have claimed an approximate number […]
