By John Lee. Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] has met with Kati Al-Juboori, the CEO of Russia's Lukoil, and his entourage. During the meeting the two parties discussed ways to develop the oil sector in Iraq. Mr. Al-Juboori praised the keenness of the Ministry of Oil to cooperate with global companies and provide […]
By John Lee. Russia’s Gazprom Neft has reportedly revised down its output plateau for the Badra oil field. Denis Sugaipov, head of Gazprom Neft’s department of large projects, told Reuters that the consortium running the project has proposed setting the output plateau for the next few years at its current level of around 85,000 bpd, […]
By John Lee. Iraq's Petroleum Contracts and Licensing Directorate (PCLD) has announced the five additional companies have been approved to bid for Iraq's "borderline onshore & offshore exploration blocks & fields." The companies are listed as: Dana Gas (UAE) Dragon Oil (UAE) Geo-Jade Petroleum (China) Schlumberger (USA) Zarubezhneft (Russia) Eight companies had applied for approval. […]
Russia's Lukoil has signed contracts with the state-owned Iraqi Oil Exploration Company to carry out seismic surveys at the Eridu field in Block 10, and also at Block 10's southern and central parts, previously not part of the survey. The scope of appraisal works at Eridu field includes a 3D seismic survey of 983 square kilometers to […]
By John Lee. The Iraqi Ministry of Oil has denied reports that Russian Energy Minister Alexander Novak discussed Russian oil companies' operations in Iraqi Kurdistan with the Iraqi prime minister or oil minister during his trip to Iraq. Novak had been quoted as saying that Baghdad had no problems with Russian companies doing business with the […]
Russia's Gazprom Neft has launched the commercial operation of a 1.6 billion cubic metres capacity gas processing plant at its Badra field, Iraq. Alexander Novak, Minister of Energy of the Russian Federation, was present at the opening ceremony for the new facility, together with the Minister of Oil of the Republic of Iraq, Jabbar al-Luaibi, and Gazprom Neft CEO Alexander Dyukov. Dry feed gas, […]
By John Lee. Russian oil company Lukoil has said it will present its plans t0 develop the West Qurna 2 oil field to the Ministry of Oil by the end of the month. Company boss Vagit Alekperov (pictured) told reporters that his company is negotiating regarding production volumes, timelines, and investment. (Source: TASS)
By John Lee. Sources have told Reuters that China's state-run Zhenhua Oil will supply diesel (500 parts per million (ppm) sulphur) to Iraq's State Oil Marketing Organization (SOMO) through a term contract for the first time. It will supply 600,000 tonnes of the 2.37 million tonnes sought by SOMO in a tender for delivery in […]
By John Lee. Russia has reportedly begun delivering T-90 tanks to the Iraqi military. According to Almasdar News, 73 of the tanks are scheduled to arrive to Umm Qasr Port this year. The T-90 is a third-generation Russian battle tank that entered service in 1993. (Source: Almasdar News)
By Ahmed Tabaqchali. Originally published by Iraq in Context; re-published by Iraq Business News with permission. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Between February 2017 and mid-October, Rosneft signed a number of deals with the Kurdish Regional Government (KRG) that established for it, […]
Iraq’s foreign minister Ibrahim Jaafari (pictured) met his Russian counterpart in Moscow on October 23 where he said Baghdad seeks stronger economic ties and the development of a strategic partnership with Russia. “Relations are already at an excellent level in various areas: politics, economy, security. After turning the page of the fight against terrorism, our […]
By John Lee. Russia's Gazprom Neft has said it expects production at the Badra oilfield to stay between 85,000 and 90,000 barrels per day (bpd) in 2018. Deputy chief executive Vadim Yakovlev (pictured) told Reuters that Baghdad has not asked the company to curtail production, despite reports that the Oil Ministry had asked foreign producers […]
