Tag Archives | Russia

Iraq Approves Russian COVID Vaccine

By John Lee. The Russian Direct Investment Fund (RDIF), Russia's sovereign wealth fund, has announced the approval of the Russian Sputnik V vaccine against coronavirus by Iraq's Ministry of Health. Iraq has become the 45th country in the world to register Sputnik V. The vaccine was registered under the emergency use authorization procedure. (Source: RDIF)

Russian Oil Firm to Finance Nassiriyah Development

By John Lee. The Dhi Qar Oil Company (DQOC) has reportedly said that Litasco, the international marketing and trading company of Russia's LUKOIL, will finance the doubling of capacity at the Nassiriyah oil field from 100,000 barrels per day (bpd) t0 200,000 bpd. The project includes a 42-kilometer pipeline, and will be a joint venture […]

Gazprom Neft developing Fourth Well at Sarqala

By John Lee. Russia's Gazprom Neft has produced its four-millionth tonne (32-millionth barrel) of oil since starting commercial development of the Sarqala field in the Kurdistan Region of Iraq (KRI). Three wells are now in operation at this field, with daily production running at about 3,100 tonnes (24,000 barrels) per day. Limitations arising under the COVID-19 pandemic notwithstanding, Gazprom […]

Mansuriya Gas Contract "Cancelled"; Russia "Extremely Interested"

By John Lee. Iraq has reportedly cancelled a contract to develop its Mansuriya gas field near the Iranian border. Iraq Business News understands that, under a deal agreed in 2010, the field was being developed by Turkish Petroleum (TPAO) (37.5%), Iraqi Oil Exploration Company (25%), Kuwait Energy (KEC) (22.5%), and Kogas (15%). According to Reuters, […]

Lukoil and Iraqi PM discuss Cooperation

The Prime Minister of Iraq, Mustafa Al-Kadhimi, and Iraqi Oil Minister Ihsan Abdul Jabbar Ismail, received a delegation from LUKOIL on Monday, headed by its President Vagit Alekperov (pictured). The meeting was also attended by the Russian Ambassador Maxim Maximov. The parties discussed the progress of the West Qurna-2 project and Eridu field (Block-10), as […]

Oil Minister meets with Chinese and Russian IOCs

By John Lee. The director of the China National Offshore Oil Corporation (CNOOC) has presented his company's plans for the development of the Bazergan [Buzurgan] oil field in Maysan to Iraq's Oil Minister Ihsan Abdul-Jabbar. In a separate meeting on Wednesday, the Minister also received the CEO of Lukoil in Iraq, Igor Zubarev, who gave […]

Russia Considers Major Investment in Iraqi Gas Field

From Middle East Monitor, under a Creative Commons licence. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. The Russian Ambassador to Iraq, Maxim Maksimov [Maximov] (pictured), said that Russia is seeking to invest heavily in Al-Mansouriya gas field, in the Diyala governorate. Maksimov […]

Iraq Considers Russian Air Defense System

An Iraqi lawmaker said Baghdad is considering purchasing advanced Russian air defense systems to enhance its air capabilities and protect its airspace. Baghdad is studying the purchase of Russian made long-range, surface-to-air S-300 systems or S-400 missile defense systems if the United States does not provide it with modern air defense systems, the Chairman of […]

Coronavirus causes Staffing Problems for Lukoil in Iraq

By John Lee. Lukoil is reportedly having difficulties staffing its operations in Iraq due to coronavirus and associated restrictions. Interfax cited chief executive Vagit Alekperov (pictured) was quoted as saying that the company has a problem with replacing shift workers, adding, "We are reaching deals with people to keep them on for shifts that are […]

Jiyad: Oil Market Collapse Damages the Iraqi Economy

By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Oil Market Collapse, Damages the Iraqi Economy and Changes Oil Geopolitics The collapse of the global oil market is undoubtedly unprecedented in its timing, magnitude, spread and devastating impacts across the globe. […]

Gazprom "Not Reducing Investment" in Iraqi Kurdistan

By John Lee. Russia's Gazprom Neft has reportedly said it will not reduce investment in its projects in Iraqi Kurdistan, despite a request from the Kurdistan Regional Government (KRG) to do so. Reuters reports that following a slump in oil prices, oil producers have been asked to reduce their investments, which governments often have to […]

KRG to Investigate Alleged $250m payment from Rosneft?

By John Lee. The Prime Minister of the Kurdistan Regional Government (KRG), Masrour Barzani, has reportedly called for the public prosecutor to launch an investigation into allegations that Russian state oil company Rosneft paid $250 million to a consultant to secure deals in Iraqi Kurdistan. Earlier this month, Bloomberg claimed that the oil company paid […]