By John Lee. Lukoil Chief Executive Officer Vagit Alekperov (pictured) has said that the Russian company expects to produce around 150,000 bpd of oil from the West Qurna-2 field by January: "The program of developing the oilfield infrastructure is proceeding according to schedule and work is ongoing at all the sites ... From 1st January […]
A state-owned Russian company is said to be in talks with Iraqi officials on the resumption of work at the Yusifiya power station of southern Baghdad. According to a report from AIN, a company identified as "Ross Tej" (sic) said: "The talks included the cooperation in the electric power sector and the possibility of resuming […]
LUKOIL has begun supplying computers and other equipment for schools of Madeina and Izzaldin-Salim municipalities under the social program of West Qurna-2 project. The program aims at developing facilities of educational, medical and sports institutions in the districts bordering on the contract area. This work is based on agreements concluded with the administrations of Madeina, […]
By John Lee. Iraq's Petroleum Contracts and Licensing Directorate (PCLD) has announced that seven international oil companies (IOCs) have been selected to bid for the development of its Nasiriya oilfield and refinery: Zarubezhneft, from Russia (Up and Downstream); CNPC, from China (Downstream); Brown Energy, from US (Downstream); Reliance Industries, from India (Up & Downstream); Lukoil, […]
By Ali Abel Sadah for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The Iraqi government is awaiting the parliament’s approval of the 2013 federal budget to pay Russia the money owed for the weapons deal. Meanwhile, Iraqi and Russian officials have confirmed that […]
By John Lee. The Kurdistan Regional Government is reported to have signed new agreements with Gazprom Neft, the oil-producing subsidiary of Russian gas monopoly Gazprom. "We are satisfied with Gazprom Neft's work in the region. New agreements have been reached with this Russian company in recent days," KRG President Masoud Barzani (pictured) was quoted as […]
Russian Foreign Minister Sergey Lavrov hosted President Masoud Barzani in the Russian Foreign Ministry on Thursday for discussions on "bilateral relations" and the situation in Iraq and Syria. In today’s meeting, both sides emphasized the need to strengthen relations between Russia on the one hand and Iraq and the Kurdistan Region on the other. Foreign […]
Foreign Minister Hoshyar Zebari has participated in the first session meeting of the Arab - Russian Cooperation Forum in Moscow. The session was chaired by the Russian Federation Minister of Foreign Affairs, Sergey Lavrov. Present at the meeting were Hoshyar Zebari, Iraqi Minister of Foreign Affairs as Iraq is current President of the Arab Summit, […]
President Masoud Barzani departed from Erbil International Airport on Tuesday with a high-level delegation to make his first official visit to the Russian Federation. During the visit, President Barzani is expected to meet senior Russian officials to discuss a number of important matters, including relations between the Kurdistan Region and the Russian Federation, political developments […]
By John Lee. The Chairman of Russia's LUKoil, Vagit Alekperov, has signed an amendment to the contract to develop the West Qurna-2 oil field with the South Oil Company (SOC). According to the amendment, the 18.75 percent share of the project formerly owned by the Norwegian company Statoil is to be taken over by LUKoil, […]
By John Lee. Iraq and the Russian state oil producer Gazprom Neft have awarded an $879 million contract to South Korea's Samsung Group to develop the Badra oil field in eastern Iraq. Samsung will design and build phase two of a central processing facility (CPF) for oil production in the field, which is expected to […]
By John Lee. According to a report from NINA, the Iraqi government decided today (Thursday) to end the official contract for Ali al-Dabbagh as the Iraqi government Spokesman. Dabbagh stated earlier: "I'm the first one who alerted the Prime Minister Nuri al-Maliki to the possible existence of suspicions of corruption regarding arms deal with Russia." […]
