The latest news on Iraq Oil Production – oil companies, oil output and more – brought to you by Iraq Business News
DNO ASA, the Norwegian oil and gas operator, today reported that cumulative oil production from its Peshkabir field in the Kurdistan region of Iraq has broken through the 100 million-barrel milestone less than six years after startup. The field was initially estimated to contain proven and probable reserves of 75 million barrels of oil commingled […]
As part of the KRG's drive to promote transparency, Deloitte have been commissioned to produce an audited report detailing oil and gas exports, production costs, and revenues for the fourth quarter of 2022. The report, which analyzes the oil and gas industry on a quarterly basis, is now available as a PDF. Click here to […]
Genel Energy has issued the following trading and operations update in advance of the Company's full-year 2022 results, which are scheduled for release on 22 March 2023. The information contained herein has not been audited and may be subject to further review. Paul Weir (pictured), Chief Executive of Genel, said: "Genel starts 2023 with a […]
DNO ASA, the Norwegian oil and gas operator, will publish its Q4 and full-year 2022 operating and interim financial results on 9 February 2023 at 07:00 (CET). A videoconference call with executive management will follow at 11:00 (CET). The Company issues below an update on production and sales volumes for the quarter as well as […]
By John Lee. The Iraqi Minister of Oil, Hayan Abdul-Ghani, has said that Iraq wants to increase production capacity of the giant Rumaila oilfield by 300,000 barrels per day (bpd). This would give it a potential output of 1.7 million bpd. He made the statement during his visit to to the field earlier this week, […]
By John Lee. Share in Gulf Keystone Petroleum (GKP) were trading down around 3 percent on Monday as the company said that production for 2022 would be towards the lower end of its guidance range. Jon Harris, Gulf Keystone's Chief Executive Officer, said: "Our leverage to strong oil prices, low-cost production base and focus on […]
By Hassan Al-Saeed for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraq's commitment to OPEC oil reduction won't affect exports Iraq's oil reduction per the recent OPEC+ agreement will not affect the country's revenues, according to Iraq's oil minister. Click […]
By Ahmed Tabaqchali, Chief Strategist of AFC Iraq Fund. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Markets Discount and Look through Violent Clashes The market, as measured the Rabee Securities RSISX USD Index, was up 2.1% for the month, and up 1.2% for […]
By John Lee. According to a report from Reuters, oil production in Iraqi Kurdistan could almost halve by 2027 if there is no new exploration or major investment in the sector. Click here to read the full report. (Source: Reuters)
Gulf Keystone Petroleum (GKP) has today announced its results for the half year ended 30 June 2022. Jon Harris (pictured), Gulf Keystone's Chief Executive Officer, said: "With the strengthening oil price and increased production, we have delivered strong profitability and cash flow generation in the first half of the year. As we progress towards approval […]
From the Kurdistan Regional Government: The Kurdistan Regional Government strongly condemns the letter issued on 23 August 2022, by Iraq's State Oil Marketing Organization (SOMO) that threatens legal action against buyers and traders of crude oil produced in the Kurdistan Region. SOMO's letter is nothing more than another drip in a stream of disinformation published […]
Writing in Oil Price, Simon Watkins argues that while Iraq's plans to increase oil production are, in broad terms, entirely realistic, the extent of Iraq's ultimately recoverable oil resources is subject to a large degree of uncertainty. Click here to read the full article.
