By John Lee. Genel Energy has announced that, following first oil production last week, first liftings have taken place from the Sarta field (Genel 30% working interest). According to a statement from the company, the Sarta-3 well is producing at an initial rate of over 5,000 bopd, with an API gravity of c.27 degrees, in […]
By John Lee. The Iraqi parliament has reportedly banned Erbil-based Kar Group from operating oil fields in Kirkuk. According to Rudaw, it assigned the state-owned North Oil Company (NOC) to take over oil production in the province and export it through Iraq's State Oil Marketing Organisation (SOMO). Reuters reports that Kar Group had been operating some […]
By John Lee. Genel Energy has issued the following trading and operations update in advance of the Company's half-year 2015 results, which are scheduled for release on 6 August 2015. Tony Hayward, newly-appointed Chairman of Genel, said: "Production has grown rapidly in the first half of the year, increasing 41% year on year, with operational […]
By John Lee. The President of BP Iraq, Michael Townshend, has said that the company has extended an agreement with the Ministry of Oil to boost production at the Kirkuk oilfield. Reuters quotes him as saying "We had a letter of intent, which was for a year, and we extended that until the end of this […]
KRG statement on recent events at oil facilities and infrastructure in Makhmour district This morning, members of the Kurdistan Regional Government (KRG) and Kirkuk Oil Protection Forces moved to secure the oil fields of Bai Hassan and the Makhmour area, after learning of orders by officials in the federal Ministry of Oil in Baghdad to […]
Global Trader reports that British business activity in Iraq is increasing on a monthly basis with process engineering and technology group DPS Global being the latest firm to reveal details of a major new project. The company has started work on the expansion of the Khurmala Dome Field Development (pictured), the northernmost dome of the […]
By John Lee. Reuters has reported that BP will undertake work to arrest declining production at the Kirkuk oilfield, in a move that has outraged the Kurdistan Regional Government. Abdul Mahdy al-Ameedi, head of the oil ministry's Petroleum Contracts and Licensing Directorate (PCLD), told The Wall Street Journal that a request has been sent to […]
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 […]
The Kurdistan Regional Government (KRG) has issued the follow statement on the reported granting of a contract to BP for the development of oilfields in Kirkuk: Neither Iraq’s federal oil ministry nor state-owned oil companies have the right to unilaterally award contracts to develop currently producing fields in Kirkuk province or in other adjacent areas, […]
