Tag Archives | oil contracts

IOCs Deny Claims of Agreement to Export Kurdish Crude

By John Lee. An industry group representing international oil companies (IOCs) in Iraqi Kurdistan has denied claims by government officials that an agreement has been reached to resume oil exports through the Iraq-Turkey Pipeline (ITP). The Association of the Petroleum Industry of Kurdistan (APIKUR) said it has not seen any proposals from Baghdad or Erbil […]

IOCs push for "US Congressional Action" to Open Iraq Pipeline

By John Lee. The Association of the Petroleum Industry of Kurdistan (APIKUR) has urgently requested U.S. Congressional action to facilitate the reopening of the Iraq-Türkiye pipeline (ITP). In a statement, APIKUR says, "this vital conduit for the KRI's economic well-being has been closed due to political disagreements, which is directly affecting U.S. interests, and the […]

GKP Remains Focused on Maximising Local Sales

Gulf Keystone Petroleum (GKP) has this morning issued an operational and corporate update. The information contained in this announcement has not been audited and may be subject to further review. Jon Harris, Gulf Keystone's Chief Executive Officer, said: "2023 was a challenging year for GKP and our industry as Kurdistan crude exports were suspended in […]

Firms ask US to help Restart Kurdistan's Oil Exports

By John Lee. The Association of the Petroleum Industry of Kurdistan (APIKUR) has appealed to the United States Congress for immediate action to help resolve halted crude oil exports from the Kurdistan Region of Iraq (KRI). The export halt, affecting over 400,000 barrels of oil per day, has lasted more than 10 months and is […]

KRG "to brief Oil Producers on Talks with Baghdad"

From Rudaw. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. KRG to brief oil producers on talks with Baghdad The natural resources ministry of the Kurdistan Regional Government (KRG) has invited international oil companies working in the Region to meet on Wednesday to discuss […]

GKP Trades Lower following Update

By John Lee. Shares in Gulf Keystone Petroleum (GKP) were trading down around 5 percent on Wednesday afternoon following an update from the company. It said that local market demand remains difficult to predict, and while discussions are ongoing, there is still no official timeline for the reopening of the Iraq-Turkey Pipeline (ITP). Full statement […]

Oil Firms Excluded from Kurdistan Oil Talks

By John Lee. International oil companies operating in Iraqi Kurdistan have been excluded from ongoing discussions regarding the production and export of oil from the Region, according to the trade body representing them. A statement from the Association of the Petroleum Industry of Kurdistan (APIKUR) on Tuesday said: "APIKUR member companies -- which represent the […]

Oil Output Increases at DNOs Kurdistan Fields

By John Lee. DNO has confirmed that production continues to increase at its fields in Iraqi Kurdistan, with output so far in the fourth quarter averaging double the level of the third quarter. However, the company added that APIKUR members will "not be in a position to produce oil for pipeline exports until it is […]

Lukoil Extends Contract at Iraq's West Qurna 2 Oilfield

By John Lee. Russian oil firm Lukoil has signed an agreement extending its contract at Iraq's West Qurna 2 oilfield by 10 years, taking it to 2045. Full statement from Lukoil: The representatives of PJSC LUKOIL and Basra Oil Company signed a Supplementary Agreement to the contract on the development and production of oil at […]