By John Lee. The Iraqi Ministry of Defence has taken delivery of another consignment of Russian Mi-28NE attack helicopters. The shipment is part of a deal agreed in 2012, and reported to involve 28 Mi-35M and 15 Mi-28NE helicopters. IHS Jane's 360 reports that helicopters from the previous consignments have been seen flying over Baghdad, […]
By John Lee. Iraq and Russia are leading the global surge in oil exports despite a highly competitive market. This has maintained low prices not seen since 2009, with a February settlement for Brent Crude at $56.42 a barrel. Bloomberg reported record export data of 10.6 million barrels a day from Russia and 2.9 million bpd […]
By John Lee. Lukoil's West Qurna-2 project in Iraq has added $1.25 billion to the company's earnings in the third quarter. In a statement to the markets the company said: "The Group launched the "Mishrif Early Oil" stage on the West Qurna-2 field and reached the planned production of 120 thousand barrels per day in […]
In the first 3 quarters of 2014, the production of marketable hydrocarbons at LUKOIL Overseas (the operator of LUKOIL's international upstream projects) reached 70 million barrels of oil equivalent – a 44 percent year-on-year increase and a new record for LUKOIL's upstream operations abroad. Oil production more than doubled to reach over 6.5 million tons […]
By John Lee. Iraq’s foreign minister, Ibrahim al-Jaafari, received the Russian Ambassador to Iraq, Elia Morganov, on Sunday. The two sides discussed issues of politics and security, including international efforts to support Iraq in its war against the Islamic State in Iraq and the Levant (ISIL). (Source: MoFA)
By Patrick M Schmidt. The Dubai-based division of the Russian oil company, Lukoil announced revise production figures for the West Qurna-2 fields. The company began production in March 2014 with an output of approximately 120,000 barrels of oil per day. Current production levels are now at 300,000 barrels of oil per day. It is expected […]
By John Lee. Lukoil President Vagit Alekperov has said that his company has invested $6 billion dollars so far on operations in Iraq. At a meeting with Iraqi Oil Minister Adel Abdul-Mahdi [Adil Abd al-Mahdi] in Baghdad, Alekperov said: "Lukoil is now working on geological exploration projects with other foreign companies in the 10th exploratory area […]
By John Lee. Lukoil president Vagit Alekperov (pictured) is to meet Iraq's Minister for Oil, Adel Abdul-Mahdi [Adil Abd al-Mahdi], to discuss the expansion of the company's operations in the country. The head of the Russian oil company told journalists: "I will be in Baghdad on October 13 to meet the oil minister. I hope, […]
By John Lee. Rudaw reports that Russia's Gazprom Neft has been forced to halt operations at its Halabja block following demonstrations by hundreds of protestors from 34 villages around the town of Darbandikhan. According to the report, the protesters have given the oil company until 20th October to stop all exploration activity, claiming that “scientific […]
By John Lee. In its interim management statement issued on Tuesday, Russian-based HMS Group said that since the start of this year it has signed several contracts for business in Iraq. The contracts, which it values at about 1 billion rubles ($25 million; 29 billion Iraqi dinars), were signed with Russian and international oil and […]
By John Lee. Russia's Gazprom Neft, the operator of the Badra oil field (pictured) in Iraq, has announced that first oil from the field is now being delivered to Iraq’s main pipeline system for transfer to the export terminal in Basra, on the Persian Gulf. Current deliveries from Badra to the pipeline stand at over […]
The Sea Triumph, an oil carrier chartered by LITASCO (LUKOIL's international marketing and trading arm) has departed the port of Basra in Southern Iraq with the first batch of oil as part of the recovery of LUKOIL's costs from the West Qurna-2 project. The shipment volume amounts to 1 million barrels of oil. The vessel […]
