By John Lee. Reuters reports that China's state-owned Sinochem Corp plans to use Iraqi crude oil for 40 percent of the capacity of its new refinery, in what the article describes as "the latest example of Iraq beating Middle Eastern rivals in the competition for new markets in Asia". The deal wold replacing a preliminary […]
By John Lee. China Petrochemical Corporation, also known as Sinopec, is still unable to participate in projects in central and southern Iraq four years after it acquired a project in northern Kurdistan, reports the Wall Street Journal. The company held talks with Russia's Lukoil about jointly developing the West Qurna-2 oil field, but Lukoil's chief […]
By John Lee. According to a report from Tehran Times, Iran will double output at the Yadavaran oilfield, which straddles the border with Iraq, to 50,000 bpd by the Iranian calendar month of Dey (beginning 22nd December). Production started in February 2012 and the oilfield is currently producing 25,000 bpd of crude oil, but 55 […]
Erbil Governorate has compiled and published a list of the top oil companies in Kurdistan [Note: This list was originally compiled and published by Marcopolis - Ed.]. Please click here to see a list of oil companies with licences granted by the Ministry of Oil in Baghdad. [NEW: An updated list can now be found […]
The Kurdistan Regional Government (KRG) has received a written notice from the federal Ministry of Finance in Baghdad, confirming release of the first oil export payment to the KRG contractors, Prime Minister Barham Salih (pictured) announced today. The Prime Minister said, “This confirmation of payment to the KRG for the Region’s contractors amounts to around […]
Iraqi Kurdistan has not yet started exporting crude oil, despite a reported agreement that exports would resume from 1st February, Iraqi oil ministry sources said on Tuesday. Two top oil ministry officials, speaking on condition of anonymity, told Platts that there had been no additional oil supplied from two producing fields in the Kurdish region […]
Rumours continue to fly regarding the fate of Heritage Oil (LSE: HOIL), the oil explorer with operations in Iraqi Kurdistan (pictured), which is said to be the target of takeover bid. The British Daily Mail newspaper reported last week that Malaysia’s state-owned oil and gas company, Petronas, was interested in the company, but Petronas denied […]
Turkish oil company Genel Enerji AS has reportedly agreed to sell part of its stake in three northern Iraq oilfields to South Korea’s UI Energy Corp. for more than $175 million [210 billion Iraqi dinars]. BusinessWeek reports that Genel Enerji will sell 5 percent stakes in the Dohuk and Tawke fields and 10 percent of […]
By Ahmed Salih Al-Janabi - Amereller Legal Consultants (in association with MENA Associates). This article was originally published in Who's Who Legal, and is reproduced in full with their permission. For additional analysis on the status of this challenge, please click here. The Supreme Court of Iraq is currently considering the legality of the Rumaila […]
By Dr. Sami Shubber, founder of Hamourabi Office in Baghdad, Iraq. For more details about this case, please click here. 1. The Iraqi Ministry of Oil awarded a contract to BP and China National Petroleum Co. (SINOPEC) in 2009 for the development of the Rumaila oilfield. A lawsuit has been filed before the Iraqi Supreme […]
