By John Lee. Qatar's Energy Minister has reportedly said that Iran and Iraq are being asked to freeze oil output at current levels, as part of a wider deal to restrain production. According to ArabianBusiness.com, Mohammed Al Sada told reporters: "We are discussing with both countries on that and we are looking at various ways and […]
DNO ASA, the Norwegian oil and gas operator, today announced a third consecutive quarter of operating profits and the completion of the first phase of the 2016-2017 drilling campaign at the Company's flagship Tawke field in the Kurdistan region of Iraq. Four new production wells at Tawke, three of which targeted the shallow Jeribe reservoir […]
DNO ASA, the Norwegian oil and gas operator, today reported receipt of USD 31.33 million from the Kurdistan Regional Government as payment towards August crude oil deliveries to the export market from the Tawke field. The funds, to be shared pro-rata by DNO and partner Genel Energy plc, include USD 26.27 million toward the monthly […]
Iraqi and Kurdish forces are about 5 miles from Mosul’s outskirts and are clearing towns and villages to the north, east and south of Iraq’s second-largest city, Pentagon Press Operations director Navy Capt. Jeff Davis told reporters yesterday. The United States is seeing what Davis called “unprecedented cooperation” between the Iraqi and Kurdish forces, which […]
Gulf Keystone Petroleum (GKP) confirmed today that a gross payment of $15.0 million has been received from the Kurdistan Regional Government ("KRG") for Shaikan crude oil export sales in August 2016. Gulf Keystone and the KRG's Ministry of Natural Resources ("MNR") continue to work towards agreeing the final form of the May, June, July and […]
By John Lee. The daily average volume of crude oil exported by Iraq's State Oil Marketing Organization (SOMO) rose to 3.276 million barrels per day in September, compared with 3.230 million bpd in August, according to the Ministry of Oil. The total for the 30-day month was 98,285,239 barrels, down from the 100.1 million barrels exported […]
By John Lee. Gulf Keystone (GKP) has confirmed today that a gross payment of $15.0 million has been received from the Kurdistan Regional Government (KRG) for Shaikan crude oil export sales in July 2016. The company said in a statement that it and the KRG's Ministry of Natural Resources (MNR) continue to work towards agreeing […]
By John Lee. Genel Energy has announced that the Taq Taq field partners have received a gross payment of $23.37 million from the Kurdistan Regional Government ('KRG') for oil sales during July 2016. Genel's net share of the payment is $12.85 million. The payment reflects full settlement of the invoiced amount for July 2016 oil […]
By John Lee. Iraq’s Ministry of Oil has said it will try to retake full control of all Kirkuk oilfields that were administered by the North Oil Company (NOC) before the Islamic State group (IS, ISIS, ISIL, Daesh) entered Iraqi territories, and "before the Peshmerga forces seized some oil wells during the previous government.” It […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Introduction Within eight months, between December 2015 and July 2016, the National Secretariat (NS) of the Iraqi Extractive Industry Transparency Initiative (IEITI) launched two annual reports (2013 & 2014) and Inception Report […]
DNO ASA, the Norwegian oil and gas operator, today reported receipt of USD 30 million from the Kurdistan Regional Government as partial payment to DNO and partner Genel Energy for June crude oil deliveries to the export market from the Tawke field. The total invoiced amount for June is USD 38.41 million, of which USD […]
By John Lee. Iraq's crude oil production in July rose to 4.632 million bpd, compared with 4.559 million bpd in June, and its highest level since January's 4.775 million bpd according to Reuters. Exports from the southern ports rose to an average daily rate of 3.202 million bpd in July, up from 3.175 million bpd in […]
