By Simon Kent. The director of licensing at Iraq's Ministry of Oil, Abdul Mahdy Al-Ameedi, has written a letter to IOCs asking them for conservative spending plans for 2016 in light of the ongoing oil price rout. The low oil prices seen since last year have limited Iraq's ability to pay companies to meet production […]
Tag Archives | Oil and Gas
Tags: Contracts, featured, international oil companies (IOCs), Iraq, Iraq Oil Exports News, Iraq Oil Production News, Ministry of Oil, Oil and Gas, Oil Prices In Iraq
MOL Reduces Akri Bijell Investment
By Simon Kent. Aberdeen based oil and gas company MOL Group have reduced their planned investments at Akri Bijell in the Kurdish region of Iraq, Rigzone reports. The new plans will see one well operational at 2200 bpd, while Bijell 4 and Bijell 6 appraisal wells encountered more geological complexity than envisaged. MOL have struggled in the region […]
Iraqi Kurdistan Pays $75 Million to IOCs
By Simon Kent. The Kurdish Regional Government (KRG) has released a statement saying it has put aside $75 million to pay three IOCs, Genel Energy, DNO and Gulf Keystone. The announcement follows payment disruption to the IOCs from the ongoing Baghdad--Erbil revenues and exports dispute. Additionally, the KRG has pledged regular payments, welcome news to the […]
Tags: Abdel adel Mehdi, Ashti Hawrami, Baghdad, Ceyhan, DNO, featured, Genel, Kirkuk, KRG, Kurdish regional government, Oil and Gas, pipelines
Sterling Expand HSE Training
By Robert Tollast. Sterling, the international Health, Safety and Environment oil and gas and construction specialists, have expanded their HSE training site in Erbil. Sterling focus on HSE consulting, building capacity to mitigate risks and environmental hazards, as well as preventing and dealing with major incidents in construction and the energy sector. The expanded centre will […]
Tags: Arbil, Erbil News, featured, Health Safety and Environment, HSE, Iraq, Kurdish regional government, Oil and Gas, Sterling Group
Gazprom: Badra Production Doubled
By Robert Tollast. Russia's Gazprom Neft has announced that production at the Badra field in Wasit province is close to double last year's production, now reaching 28,000 bpd. Gazprom Neft's commercial production and exports at Badra started in September last year, after the company signed a contract to develop the field in January 2010, as […]
Akkas Pipeline Cancelled
By Robert Tollast. Korean firm STX Heavy Industries has cancelled a proposed 500km pipeline to the Akkas gas field in Western Iraq, which is operated by state Korean gas firm KOGAS. STX Heavy were working on the project with KOGAS Akkas B.V and work was due to be finished in 2017, however the project ran […]
Tags: Akkas, Anbar, featured, Iraq, KOGAS Iraq News, Oil and Gas, Republic of South Korea, South Korea, STX Heavy
New Route for Jordan-Iraq pipeline
By Bob Tollast on 22nd June 2015 in ‘Your Country’ – Iraq Feature, Construction & Engineering In Iraq
By Simon Kent. The Iraqi Ambassador to Jordan has announced plans to re-route a proposed pipeline to the country's Western neighbour. According to Ambassador Jawad Abbas, the $18bn, 150,000 bpd pipeline will now go south towards Basra and then west into the neighbouring Kingdom. The project is one of a number of oil and gas […]
Tags: Baghdad, Basra News, Daesh, featured, Iraq, ISIL, ISIS, Islamic State, Jordan, Oil and Gas, pipeline
Iraq Petroleum Conference 2015 : a New Kind of Dialogue
By Madeleine White, capacity building specialist and co-founder of Nina Magazine For Arabic please go to arabic.nina-iraq.com It was the third and final day of last week's Iraq Petroleum conference, hosted by CWC in London. It was breakfast time and I was just about to take a second bite of my croissant, when the guy next […]
Tags: Chevron, featured, Iraq, Nina Magazine, Oil and Gas, Shell, SOMO, Status Women, Western Zagros, Women
Iraq and Russia Maintain Oil Glut
By John Lee. Iraq and Russia are leading the global surge in oil exports despite a highly competitive market. This has maintained low prices not seen since 2009, with a February settlement for Brent Crude at $56.42 a barrel. Bloomberg reported record export data of 10.6 million barrels a day from Russia and 2.9 million bpd […]
Tags: Brent crude, China, Iraq, Iraq Oil Exports News, Oil and Gas, OPEC, rentier state, Russia, Saudi Arabia, Shale Gas
BP Plans to Double Rumaila Production
By John Lee. The coming year will see BP expand drilling work and upgrades to equipment at the vast Rumaila oil field in southern Iraq, of which the company have a 50% stake. BP operate the field with PetroChina, Iraq's South Oil Company and SOMO. This work is carried out under the umbrella of the […]
Tags: Basra News, BP, Iraq, Oil and Gas, Petroceltic, Rumaila, Rumaila Operating Organization (ROO), SOMO, South Oil Company (SOC)
Abdel Mehdi: Historic Deal in Final Stage
By John Lee. It's a deal that could cement a prosperous shared future for Baghdad and Arbil. But despite the new good will between the two sides, there is huge political opposition from Iraqi Arabs who object to the current terms. In the Kurdish region, many feel that the history has already turned toward their […]
Tags: Adel Abdul-Mahdi, Ashti Hawrami, Baghdad, Iraq, KRG, Ministry of Natural Resources, Ministry of Oil, Oil and Gas, OPEC
Afren Announces Half Yearly Results
By John Lee. Afren have released their Half-yearly Results for the six months ended 30 June 2014 and an update on its operations year-to-date 2014, in accordance with the reporting requirements of the EU Transparency Directive. Below is a summary of their Iraq operations and general financial results. Information contained within this release is un-audited […]