The latest news on Iraq Oil Production – oil companies, oil output and more – brought to you by Iraq Business News
By John Lee. Canadian oil development and exploration company ShaMaran Petroleum has announced that all non-essential capital expenditures in the Atrush block (pictured) have been cancelled or postponed, while it engages with bondholders to seek additional balance-sheet flexibility. The company's operations remain heavily impacted by the continued closure of the Iraq-Turkey pipeline (ITP), connecting Iraq's […]
By John Lee. Iraq's parliamentary oil and gas committee has said the government plans to increase oil production to over 5 million barrels per day (bpd). According to state-run Iraqi News Agency (INA), member of the committee, MP Zeinab Juma al-Mousawi, stressed the importance of facilitating an investment-friendly environment by offering protection and incentives to […]
By Joseph Daher for The New Arab. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. With Iraq's new budget, Baghdad goes after Kurdish oil Taking advantage of festering divisions within Kurdistan and the weakening of the KRG government, Iraq's central government has seized its […]
By Adam Lucente for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. How Iraq's new budget affects oil arrangement with Kurdistan region The success of Iraq's largest-ever budget is partially dependent on oil prices, and follows the federal government asserting more […]
By John Lee. Gulf Keystone Petroleum (GKP) provided an operational and corporate update on Friday. Jon Harris (pictured), Gulf Keystone's Chief Executive Officer, said: "Gulf Keystone entered 2023 following a year of strong operational and financial performance and continued delivery against the Company's disciplined strategy of investing in profitable production growth, sustainable shareholder returns and […]
By John Lee. Iraq's Minister of Oil has affirmed Iraq's commitment to the OPEC+ agreement and the extension of the voluntary cut in oil production that was approved in April for the year 2023. Speaking at a press conference following the OPEC+ meeting in Vienna, Hayan Abdul-Ghani said Iraq will continue its voluntary reduction of […]
By Simon Watkins for the OilPrice.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Three New China-Russia-Iran and Iraq Agreements Confirm The New Oil Market Order The last week or so has seen a flurry of major cooperation agreements - including in energy, security, […]
Gulf Keystone Petroleum (GKP) provided an update on operational and corporate activity and the Company's upcoming 2023 Annual General Meeting ("AGM") on Monaday: Operational & Corporate Update Following the shut-in of the Iraq-Turkey pipeline on 25 March 2023, production from the Shaikan Field remains shut-in. The suspension of exports has resulted in a gross production […]
By John Lee. Iraq's Minister of Oil, Hayan Abdul-Ghani, has announced the restart of production, loading, and export operations from the Qayyarah oil field in Nineveh Governorate. The field has a capacity of 33,000 barrels per day (bpd). Tankers and rail will be used for transportation. Around 30,000 bpd will be exported to the ports […]
By Julianne Geiger for the OilPrice.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq And Kurdistan Close To Deal On Oil Exports Baghdad and Erbil are set to reach an agreement over crude oil exports from Iraq's semi-autonomous Kurdistan region within the next […]
By John Lee. Shares in Gulf Keystone Petroleum (GKP) were trading down more than seven percent on Thursday morning, after it issued an update on operational and corporate activity and 2023 guidance following the shut-in of the Iraq-Turkey pipeline on 25 March 2023. Jon Harris, Gulf Keystone's Chief Executive Officer, said: "Gulf Keystone was on […]
By John Lee. Iraq's Minister of Oil, Hayan Abdul-Ghani (pictured), visited the East Baghdad oil field in Nahrawan and Suwayrah regions, expressing a commitment to increase crude oil production and invest in associated gas. The field currently produces 30,000 barrels per day, with a peak production goal of 40,000 barrels per day under the 2018 […]
