Reuters reports that the Iraqi government has approved the exploration, development and production contract for Block 10 in the south of the country. Russia's LUKoil, which already has an interest in the giant West Qurna-2 oilfield, won the deal for the 5,500-square-kilometer Block 10 in Muthanna and Dhi Qar provinces in Iraq's 4th round energy […]
By John Lee. Russia's Pravda reports that Iraq may be about to buy $5 billion worth of MiG fighter jets, Russian helicopters, anti-aircraft missile systems, armored vehicles and other weapons. Between 2008 and 2011 Baghdad purchased Russian weapons worth $246 million dollars, most of which were helicopters. In the same period, deliveries of weapons and […]
By John Lee. Iraq's cabinet has approved three oil and gas contracts awarded to foreign firms in the 4th round energy auction in May. Government spokesman Ali al-Dabbagh (pictured) said cabinet approved an initial gas exploration contract with Pakistan Petroleum for gas Block 8, another deal led by Russia's Lukoil along with Inpex of Japan […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The Iraqi Ministry of Oil confirmed in late July that Russia’s Bashneft had accepted the ministry’s maximum acceptable remuneration fee (MARF) for exploration Block 12, which was offered in the fourth bid […]
By John Lee. The China National Petroleum Corporation (CNPC) is reported to be in talks with Russia's OAO Lukoil about joining the company’s West Qurna-2 project in Iraq. Lukoil is seeking a partner for a 30 percent stake in the project following the exit of Norway's Statoil’s, Nefte Compass said, citing Andrei Kuzyaev (pictured), head […]
By John Lee. A Russian business delegation has visited the city of Ramadi to investigate investment opportunities in Anbar province. Saadoun Obeid al-Shaalan, head of the provincial council, told NINA news agency: "The delegation represents a group of leading Russian companies specialized in the manufacture of large power stations, the production and distribution of electricity, […]
By John Lee. Reuters reports that Iraq's acting Minister for Defence, Sadoun al-Dulaimi (Sadun al-Dulaymi) (pictured), has been in Russia to negotiate the purchase of air surveillance equipment. Hakim al-Zamili, a member of the parlimantary security and defence committee, told the news agency: "There is a delegation, headed by the minister of defence and the commander […]
By John Lee. Iraq's Trade Minister, Khayrulla Hassan [Khayri-allah Babakir, Dr Khairallah Hassan Babiker] (pictured) has said that 100,000 tons more of wheat will be produced in Iraq than in 2011. According to the report from AKnews, 1.75 million tons of wheat were produced last year, and this is expected to rise to 1.85 million […]
By John Lee. Eurasia Drilling (LSE: EDCL) has announced that it has acquired two onshore drilling rigs in Iraq, with a commitment to purchase a third. All three rigs are currently under contract or being tendered to international customers. To ensure uninterrupted operations, EDC intends to retain the existing management and operational staff and support […]
By John Lee. Iraq signed the gas exploration contract with Pakistan Petroleum Ltd. (PPL) on Sunday for gas Block 8, which lies in the Diyala and Wassit provinces in the East of the country. Meanwhile on Monday, a consortium led by Kuwait Energy signed the contract for oil Block 9, having bid fee of $6.24 […]
By John Lee. "Is Iraq a failing state, or has it already failed", asks Peter Lavelle on Russia Today's Crosstalk programme. Discussing the question are Robert Maginnis, Douglas Ollivant and John Glaser.
Iraq's Deputy Prime Minister, Roz Nouri Shawees [Rowsch N Shaways] (pictured), has praised relations between Iraq and Russia in all fields, but particularly in the oil and gas sectors. In an interview with Russia Today TV, he said that "Iraqi doors are open to all Russian companies". He pointed out that Iraqi oil bids are transparent, and […]
