The latest oil and gas news from Iraq – refineries, production and more – brought to you by Iraq Business News
Just last week, shares in Gulf Keystone rose sharply on improved sentiment regarding oil exports from Iraqi Kurdistan. The shares have since given up much of that gain, on fears of dilution from a new round of fundraising. Details of the fundraising were announced on Tuesday. According to a statement from the company: “Gulf Keystone […]
The initial development plan agreed by Exxon Mobil (XOM.N) and its partners for Iraq's West Qurna Phase One oilfield includes drilling eight new wells and overhauling up to 50 wells this year to boost output, an Iraqi oil official said on Monday. International oil service companies will be invited to drill four new wells and […]
Four security guards were injured Sunday when two explosive devices detonated near the entrance of an oil company in the northern Iraqi city of Kirkuk, a police source said. Security forces cordoned off the area and launched a search operation for those behind the blast, which targeted the North Oil Company, northwest of Kirkuk, Helo […]
The Iraqi federal government Tuesday approved a deal that would allow oil exports from oil fields in the semi-autonomous region of Kurdistan in northern Iraq, which have been on hold for the last seven months over a payment row with Baghdad, a cabinet spokesman said. "The cabinet has approved a request submitted by the oil […]
CNOOC and Turkish Petroleum Corp. have signed a 20-year contract to develop the Missan oil-field in southern Iraq By Chen Zhu CNOOC Ltd., the Hong Kong-listed unit of China National Offshore Oil Corp. has partnered with the state-run Turkish Petroleum Corp. (TPAO) to win a contract with Iraq to develop the lucrative Missan oil-field in […]
Minister says $1b project to raise export capacity to 4.5m bpd by 2012 is on track Iraq expects crude output to increase by about 600,000 barrels per day (bpd) through 2011, based on initial plans from global firms for oilfields that were auctioned off last year, a senior oil official said yesterday. Deputy Oil Minister […]
Shares in Gulf Keystone (GKP.L) rise 18 percent, making the oil explorer one of London's top risers, on positive sentiment after Iraq approves a Kurdish oil exports deal which could allow oil exports to resume from the semi-autonomous region. [ID:nLDE64H1NN] "The agreement shouldn't really do much to Gulf Keystone because they don't plan on exporting […]
Iraq’s government approved an accord between the oil ministry and Kurdistan to export crude produced in the semi-autonomous region through a marketing company, paving the way for shipments to resume. Companies including DNO International ASA and Genel Enerji AS halted oil exports from Kurdistan in October, about four months after they started, because there was […]
The Investment Commission in Anbar Province said that the Province Council has strong reservations over the Iraq Ministry of Oil’s intention to included the Ukaz gas field in its third round bid. The commission said that it will cooperate with the upcoming government if it establishes a plan of cooperation with the province council over […]
Iraq will supply crude to at least two Asian buyers at around 10 percent below contract volumes for June, possibly the first major cut in allocations by the OPEC producer this year, industry sources said on Wednesday. The cut was on medium-heavy Basrah Light crude, they said. It was not immediately known why Iraq cut […]
Norwegian oil and gas producer DNO International (DNO.OL) gave no guidance as to when it expects to restart oil exports from Iraq when it published first-quarter results that beat forecasts on Tuesday. "The process is moving ahead but we have no information about when things will happen," Managing Director Helge Eide told a news conference. […]
Iran has agreed to ship 1.5 million liters of fuel to breathe life into some Iraqi power plants made idle due to fuel shortages. The agreement was struck during a visit by a high level Iraqi delegation to Tehran, a statement by the Ministry of Electricity said. The agreement comes as power outages have worsened […]
