Iraqi Kurds say they have struck a new oil find at the disputed district of Shaikhan, north of the city of Mosul. According to the report from Azzaman, the discovery of reserves of up to 917 million barrels in an area close to Mosul, the capital Nineveh, is certain to fuel tension between Iraqi Kurds […]
Iraq's deputy oil minister, Ahmed al-Shamma, said that Iraq still hopes to award a contract for the development of the 4.4 billion barrel Nassiriya oil field and the construction of a dedicated 300,000 bpd export refinery as one package. Iraq excluded Nassiriya from its three previous bidding rounds for oil and gas licences. According to […]
Exxon Mobil has told Baghdad it will not break ground on its oil blocs in Iraqi Kurdistan until the central government in Baghdad approves the contracts, Deputy Prime Minister for Energy, Hussain al-Shahristani, said said on Wednesday. Shahristani has indicated many times that such approval was unlikely to be granted. Baghdad has threatened to exclude Exxon […]
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 […]
Further to the rumours that Exxon Mobil plans to abandon it's contract at West Qurna-1 in favour of pursuing exploration deals in Iraqi Kurdistan, the Kurdistan Regional Government (KRG) has issued the following statement: "In a meeting with President Masoud Barzani in Washington DC this week, the CEO of Exxon Mobil, Rex Tillerson [pictured] stated […]
Sources in Baghdad have told Iraq Business News that Exxon Mobil has decided to abandon its contract at the giant West Qurna-1 oilfield in Southern Iraq, in favour of pursuing its interests in Iraqi Kurdistan. In recent days the Iraqi Ministry for Oil has claimed to have received a second letter from Exxon in which […]
Russian-based news agency RT interviews an anti-capitalist campaigner about the excalating tensions between Baghdad and Iraqi Kurdistan: (Source: RT)
Ashti Hawrami, the natural resources minister of the Kurdistan Regional Government (KRG), said on Monday that Exxon Mobil is honoring its oil exploration contracts in the region, contradicting the statement from Baghdad's Oil Minster, Abdul Kareem Luaibi [Elaibi], who said the deal had been frozen. “What comes out of Baghdad is about 90 percent, with […]
Iraqi Oil Minister Abdul Kareem Luaibi [Elaibi] said on Monday that Exxon Mobil had sent a second letter to Iraq's oil ministry confirming its decision to freeze its oil deals with the Kurdistan Regional Governmment (KRG), according to a report from Reuters. The decision may lead the Iraqi government to allow Exxon Mobil to re-enter […]
The ongoing dispute between Iraq's central government in Baghdad and the Kurdistan Regional Government (KRG) reached new heights on Monday as Iraq's Deputy Prime Minister for Energy, Hussain al-Shahristani (pictured), accused the northern region of smuggling rather than meeting its export obligations. According to Reuters, Shahristani told reporters: "Most of the crude produced in the […]
Following Sunday's statement from the Kurdistan Regional Government stopping oil exports from the region, Norway's DNO International has issued the following statement: As of 1 April 2012, the Ministry of Natural Resources of the Kurdistan Regional Government (KRG) has instructed DNO International ASA to halt delivery of that portion of crude oil produced from the […]
The export of oil from the Kurdistan Region of Iraq has been stopped from today because the federal government in Baghdad has not honoured its payment commitments, Kurdistan's Ministry of Natural Resources (MNR) said on Sunday. “After consultation with the producing companies, the Ministry has reluctantly decided to halt exports until further notice. There have […]
