The latest news on Iraq Oil Production – oil companies, oil output and more – brought to you by Iraq Business News
By John Lee. Genel Energy issued the following trading and operations update relating to Q1 2024 on Thursday, ahead of the Company's Annual General Meeting: Paul Weir (pictured), Chief Executive of Genel, said: "We have achieved balanced income and expenditure in the first quarter of the year, which is ahead of schedule. Local sales from […]
By John Lee. DNO ASA, the Norwegian oil and gas operator, reported first quarter 2024 operating profit of USD 61 million, 61 percent higher than the previous quarter, on the back of revenues totaling USD 183 million. Free cash flow at USD 44 million was up 31 percent from the fourth quarter of 2023. Net […]
By John Lee. The Kurdistan Regional Government (KRG) has hit back at the Iraqi federal government in the continuing row over the Region's oil exports. In a statement the KRG questioned the legitimacy of the Federal Supreme Court (FSC), and claimed again that contracts it signed with oil companies are valid. Full statement from KRG: […]
From OilPrice.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq Has No Intention of Restarting Kurdish Oil Pipeline Baghdad is repairing the Kirkuk-Ceyhan pipeline, which has not been operable for ten years and hopes to use it to export some 350,000 bpd to […]
By Jack Dutton 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 plans to reopen own oil pipeline as talks to restart Kurdish route stall The move to reopen the pipeline will irk the Kurdistan Regional Government, as it introduces […]
By John Lee. DNO has announced that production and field operations at its operated Tawke license (DNO 75 percent) in the Kurdistan region of Iraq have recovered from torrential flooding that also washed away large sections of the banks of the Khabur River, damaging roads and interfering with loading of tanker trucks for deliveries to […]
By John Lee. Genel Energy plc has announced its audited results for the year ended 31 December 2023. Paul Weir (pictured), Chief Executive of Genel, said: "We have continued the journey that we commenced in 2022 to, firstly, refocus the business on areas where it can be profitable and deliver shareholder value and, secondly, optimise […]
By John Lee. The Iraqi Oil Ministry has responded to criticism from the trade body representing international oil companies (IOCs) operating in Iraqi Kurdistan, as they mark the one-year anniversary of the closure of the Iraq-Turkey Pipeline (ITP) connecting northern Iraq with the Mediterranean port of Ceyhan. Highlighting the economic cost of the pipeline closure, […]
By John Lee. The Iraqi Ministry of Oil has reiterated its commitment to voluntary production cuts in support of initiatives by OPEC+ member states to maintain stability and balance in the oil market. Despite reports of regional production outside of coordination and agreement with the federal government, the Ministry says it has taken proactive measures […]
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 […]
By John Lee. Gulf Keystone Petroleum (GKP) has said that local sales volumes have rebounded in recent weeks. It adds that sales for February are expected to be above expected monthly net capex and costs. Full statement from GKP: Update on Shaikan Field local sales & Notice of 2023 Full Year Results Gulf Keystone, a […]
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 […]
