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 […]
By John Lee. Afren has released a statement on the recent suspension of the Associate Directors of the company pending the results of an investigation. The statement reads as follows: Afren plc ("Afren" or the "Company") announces that the Board has temporarily suspended Iain Wright and Galib Virani, both Associate Directors of the Company. Further […]
By Patrick Schmidt. During an oil and gas conference in Norway, Chief Executive Officer of Kuwait Energy, Sara Akbar (pictured) noted that recent events in Iraq do not sour her outlook for the petroleum industry in Iraq. This statement follows the evacuation of oil engineers and workers from Iraq by select energy companies over the preceding […]
By John Lee. As Kurdish Peshmerga forces have continued their advance, capturing Batana mountain near Zumar, along with recent gains in Makhmur, they have announced ISIL is following a "scorched earth" policy. An official from Iraq's North Oil Company recently confirmed that after ISIL retreated from the Ain Zalah oil field, they set fire to […]
By John Lee. Gulf Keystone (pictured: CEO John Gerstenlauer) an independent oil and gas exploration, development and production company with operations in the Kurdistan Region of Iraq ("Kurdistan Region"), today announces its results for the six months ended 30 June 2014. Operational highlights · Gulf Keystone's operations in the Kurdistan Region remain secure and production […]
By John Lee. China expert Simone Van Nieuwenhuizen has written an opinion piece for The Diplomat, a foreign affairs journal that covers events in Asia. She argues that it would be in China's interests to do more for Iraq. In the piece, Van Niewenhuizen notes that not only has China been threatened by the Islamic State of […]
By John Lee. It has been the site of a dramatic siege since the June offensive of the Islamic State of Iraq and the Levant (ISIL) which seized large swathes of northern Iraq. Baiji refinery was vital for refined fuel products for much of the north of the country, and initially the Iraqi army unit […]
By Patrick Schmidt. The Iraqi government has announced that security forces have reclaimed the K3 Refinery in Haditha. The Islamic State of Iraq and the Levant (ISIL) had occupied the facility and expelled its staff from the area. Security officials announced that they had killed a number of militants and were now inspecting the facility […]
By Patrick Schmidt. On Monday, Korea Gas Corporation (KOGAS) announced that it will invest $4.9 billion in the Zubair oil field project. The investment will help establish the facilities needed to launch the project and help Zubair reach its potential of over 800,000 barrel per day production. KOGAS have a 23% stake in the Zubair […]
By Patrick Schmidt. A Kurdish oil tanker has arrived at the Croatian port of Omisalj and is preparing to begin offloading its cargo in the coming days. This delivery represents a success for the Kurdish Regional Government (KRG) in finding a buyer for their crude following legal threats from Baghdad. These threats have previously deterred […]
By Patrick Schmidt. In addition to current energy holdings in Syria, the Islamic State of the Iraq and the Levant (ISIL) holds seven different oil fields in Iraq. This past month the militants seized Ain Zalah and Batma oil fields. They had previously gained control of Najma, Qayara, Himreen, Ajeel and Balad oil fields. The […]
By Patrick Schmidt. Crude oil reached $105 dollars per barrel late last week despite the ongoing crisis and advance of the Islamic State of Iraq and the Levant (ISIL). The increase came after a period of unusually low oil prices in the global market. Oil has fallen over $10 dollars over the past two months […]
