U.S.- and coalition-backed local forces continue the fight against Islamic State of Iraq and the Levant fighters in the push toward Mosul in Iraq and the isolation of Manbij in Syria, Operation Inherent Resolve spokesman Army Col. Christopher Garver said on Wednesday. Speaking live via videoconference from Baghdad, Garver offered condolences on behalf of the […]
Operation Inherent Resolve continues to target ISIL illicit oil and natural gas activities in an operation called Tidal Wave II, a US military spokesman said on Wednesday. Col. Christopher Garver said targets include oil sites, equipment and vehicles for transporting oil and natural gas. Since September 2014, the coalition has conducted about 300 strikes against […]
By John Lee. The German newspaper Sueddeutsche Zeitung reports that the Islamic State (IS, ISIS, ISIL) now has control of just one functioning oil field in Iraq, the Qayara field south of Mosul in Nineveh Province. As a result, oil production in areas under its control is now estimated at 2,000 bpd, just 5 percent […]
By John Lee. Angola's Sonangol has decided to abandon its Qayara and Najmah oilfields in Nineveh province due to security problems. Reuters reports that Anabela Fonseca, Sonangol board member in charge of international investments, told a news conference: "Our presence in Iraq was as an operator in an area with much conflict. Last year we […]
An Oil Ministry spokesman has said that the ministry "will not put time limit for the Angolan oil company [Sonangol] in developing Najma and Qayara oilfields, due to the security obstacles facing it in these areas". According to the report from Aswat Al Iraq, the company suffered terrorist attacks on its personnel and sites, so […]
By John Lee. Iraq's deputy prime minister for energy, Hussain al-Shahristani (pictured), has said that 'Big Oil' is about to spend over $25 billion next year to boost oil output towards record levels. He predicted that the southern fields are expected to pump an extra 500,000 bpd in 2014, compared to just over 3 million […]
By Abdullah Salem. This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. After extremists set off bombs on Iraq’s most dangerous oil field, the resulting fire burned for a month. The result: toxic smoke, two deaths, accusations, environmental […]
AKnews reports that uniformed militants have blown up about 10 machine tools used by Sonangol, Angola’s national oil company, in the province of Nineveh on Thursday. Sonangol won contracts to develop the al-Najma and al-Qayara oil fields near the provincial capital Mosul in 2009. The equipment was blown up by IEDs that were placed inside […]
Syria and Iraq have reached a final agreement to build two oil pipelines and a gas pipeline between their two countries, and tender invitations will be issued soon, Syrian Oil Minister Sufian Alao [Suffian Alao] (pictured) was quoted as saying on Tuesday. Alao was quoted by Syrian newspaper Al-Thawra as saying an existing oil pipeline […]
US oil major Occidental Petroleum Corp and Indonesian state oil firm Pertamina have shown an interest in taking a stake in Sonangol's two Iraqi oilfield development projects, a company official said on Sunday. "Our proposal will be for Sonangol to have 45 per cent in Najmah and Qayara [Qaiyarah]," Sonangol executive J. da Graca Luis […]
