The latest Oil & Gas industry news from Iraq – security updates, oil industry events and more – brought to you by Iraq Business News
By Mark DeWeaver. Given the importance of oil for Iraq’s economy, you might think that the price of this commodity would be a key driver for Iraqi stocks. Strangely, this has not always been the case—most notably during the global financial crisis. From July to December, 2008, even as the oil price fell by a […]
PM Abadi’s political manoeuvres continued to lead to a number of dismissals within key ministries. On 01 December, the Prime Minister retired 24 senior Interior Ministry officials as part of government restructuring. This decision comes as central authorities uncovered an estimated 50,000 ‘ghost soldiers’ on the military payroll, prompting the government to take steps towards […]
On Thursday, Marathon Oil Corp. said it expects to start producing oil from its operations in the Kurdish region of Iraq within the next two years. The company posted an 8.4 percent increase in net income for the second quarter of 2013, according to its quarterly report. According to UPI, the company said it is planning […]
Iraq continues to grow its oil production at a good pace. Having recently breached the three million barrels of oil in a day mark, it is now averaging over a month 2.6m b/d, the most in three decades, according to Falah Alamri, the head of the State Oil Marketing Organisation. With Iran's oil production having stalled recently, […]
Advertising Feature Iraq Business News is delighted to bring you the latest Iraq Market Tracker report from Dunia Frontier Consultants. The market tracker highlights the activities and market performance of a basket of publicly traded firms who derive a significant percentage of their revenues from operations in Iraq, but are traded on foreign exchanges: a […]
Advertising Feature Iraq Business News is delighted to bring you the latest Iraq Market Tracker report from Dunia Frontier Consultants. The market tracker highlights the activities and market performance of a basket of publicly traded firms who derive a significant percentage of their revenues from operations in Iraq, but are traded on foreign exchanges: a […]
Capacity at Al-Ahdab oilfield reached 120,000 bpd on Friday, three years ahead of schedule, according to Reuters. The one-billion barrel field in Wassit Province, central Iraq, is being developed by Chinese firm CNPC. The firm started production at 60,000 bpd in summer, six months ahead of schedule and it has doubled it far faster than […]
The high price of oil could prove the latest projection of a USD14.5bn budget deficit in 2012 as being too pessimistic. The Cabinet approved a $100bn budget for 2012 in the first week of December, although it is still waiting for Parliament to give its approval. The budget is based on oil at an average […]
Levels of violence fell in Iraq over the past week, with attacks concentrated in Mosul, Baghdad and Kirkuk. There was a scattering of incidents throughout the central provinces and a notable bombing attack on oil and gas infrastructure in Basrah province. Bomb attacks left at least 15 people dead and 77 injured, a decline from […]
Many are concerned that conditions could worsen in Iraq once the US military has withdrawn its forces from the country. Troops are required to leave by the end of the year and the pullout is already well underway. Hundreds of transport vehicles are currently snaking their way south towards the Kuwaiti border. Most of the […]
At least 76 people were killed and 184 injured in nationwide attacks in Iraq last week. This is a rise from the previous week and largely attributable to a series of attacks in Baghdad. A series of bombing and suicide attacks targeting the police in the capital left numerous people dead on 12 October. The […]
Up until Monday, the past week was turning into one of the quietest so far this year, but then a series of mass casualty attacks swept the country, leaving dozens of people dead and injured. Provincial government buildings and security force installations and patrols were the most common targets of the attacks, although civilians were […]
