The latest Oil & Gas industry news from Iraq – security updates, oil industry events and more – brought to you by Iraq Business News
Iraq's Ministry of Oil will auction off more gas fields on the 20th October 2010. Xinhua was told by an official: "The bidding for the gas fields of Akkas in Iraq's western province of Anbar, Mansuriyah in eastern Diyala province and Siba in the southern province of Basra, will be held on October 20th." Ministry of […]
(Source: Aswat Al Iraq) Al-Ahdab Oil Company started on Tuesday extending pipelines toward al-Nassiriya and al-Zabiediya plant in north of Kut, a media official said. “The company started on Tuesday (June 22) extending pipelines toward the pumping plant in Nassiriya and the power production plant in al-Zabiediya in north of Kut,” Majed al-Attabi told Aswat […]
Iraq Oil Minister Hussein Shahristani said that the daily fluctuation in oil prices is normal adding that the oil market is generally stable. The ups and downs in prices are not expected to affect the Iraq budget which relies on crude oil exports, he said. The current prices are acceptable to Iraq, Shahristani added. ( […]
Iran has discovered 30 billion barrels of oil in place at a southwestern oil field that borders Iraq, the Jomhuri-ye Eslami newspaper reported yesterday. “An Iranian company along with a Chinese company are preparing the ground for exploration of oil in the Arvand-Kenar field that has 30 billion barrels of oil in place,” the daily […]
The president of Iraq's semi-autonomous Kurdish region says that it could resume oil exports as soon as a new federal government is formed in Iraq. Massoud Barzani says his Kurdish Democratic Party is in talks with Baghdad to form a new government that "doesn't exclude any party." He says that oil-rich Kurdistan has resolved most […]
The Dhi-Qar council will prepare a plan to invest the oil revenues in the province, a member of the council’s economic committee said on Monday. “A committee has been formed by the Dhi-Qar council and the province’s oilfields authority to invest the one billion dinars oil revenues,” Mona al-Safi told Aswat al-Iraq news agency. “The […]
Majlis Energy Committee Chairman Hamid-Reza Katouzian has warned about the sluggish pace of the development of Iran’s joint oil fields with Iraq and other Persian Gulf states. Katouzian blamed inadequate investment, wrong policies, and improper decisions in Iran’s oil sector for the slow progress in the oil sector. “Unfortunately, sometimes decisions that are made without […]
The Kurdish areas of northern Iraq should resume oil exports “immediately,” without waiting for clearance from the finance ministry, Iraqi Oil Minister Hussain Al-Shahristani said. Kurdistan should not wait for an agreement on payments to foreign companies before resuming oil exports, he said in an interview in Baghdad today. “We have informed them that they […]
Sterling, the AIM listed independent oil & gas exploration and production company with interests in Africa and the Middle East has provided the following update on its activities: The Sangaw North #1 exploration well is currently drilling ahead at 1,505 metres. Since the last update on 7 May 2010 two intermediate casing strings have been […]
A Russian company met with Basra's Governor, Shaltagh Abboud al-Mayah, on Thursday to discuss new investment projects in the oil sector, according to a report from Aswat Al Iraq. “Talks addressed the rehabilitation and reconstruction of the oilfields,” the source said. “The company presented a study on the Basra oilfields and ways to solve their […]
Just last week, shares in Gulf Keystone rose sharply on improved sentiment regarding oil exports from Iraqi Kurdistan. The shares have since given up much of that gain, on fears of dilution from a new round of fundraising. Details of the fundraising were announced on Tuesday. According to a statement from the company: “Gulf Keystone […]
The Iraqi federal government Tuesday approved a deal that would allow oil exports from oil fields in the semi-autonomous region of Kurdistan in northern Iraq, which have been on hold for the last seven months over a payment row with Baghdad, a cabinet spokesman said. "The cabinet has approved a request submitted by the oil […]
