Practical Lessons in Selling to the South Iraq Oil Company article by Gavin Jones – Invoicing, debt collection and more – brought to you by Iraq Business News
A delegation from the Ministry of Industry paid a visit to the headquarters of Italian company Paresa on Wednesday to discuss the building of eight oil tanks for the South Oil Company. According to Aswat al-Iraq, each tank will have a capacity of 58,000 'cubic liters' (sic); we believe this should read 'cubic meters'. (Source: […]
Reuters, citing two sources at the state-owned South Oil Company, reports that Iraq began loading oil from a long-awaited new floating Single Point Mooring (SPM) platform in the Gulf on Thursday. "We started the loading at 2:45 pm (1145 GMT). The loading process is normal. The situation of pipes and the SPM is stable, and […]
Weatherford International has won a deal to build early production facilities at Iraq's untapped Garraf oil field in southern Iraq, a former Iraqi oil ministry official said Wednesday, according to a report from Dow Jones. Adnan Galay, who retired as chairman of the field's joint management committee a few weeks ago, declined to give the […]
Iraq's South Oil Company has awarded Italy's Saipem the EPIC contract for the Iraq Crude Oil Export Expansion Project – Phase 2, within the framework of the expansion of the Basra Oil Terminal (ABOT), off the Al Faw Peninsula in the Arabian Gulf, approximately 550 kilometres south-east of Baghdad. The contract encompasses the engineering, procurement, […]
Reuters reports that a fire has broken out at a state-run gas compression unit at Iraq's Rumaila oilfield on Tuesday, killing one person and hitting oil production. "We have stopped exporting gas that would have been exported into this compressor and this will have an impact on our production from Rumaila," BP spokesman David Nicholas […]
By Gavin Jones, Director of Iraq Business News, and Partner at consultancy firm Upper Quartile. This article was originally published on the Emerging Economics blog. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. We have been working with a substantial international company in Iraq […]
AKnews reports that Iraq’s Oil Ministry has announced that it has recruited 1,114 new employees for the state oil companies under its jurisdiction. The successful applicants for the public sector posts are holders of specialized diplomas and degrees in the oil sector from relevant institutions. Iraq plans to increase its oil production from around 2.5 […]
Iraq’s government said it would raise salaries at its southern oil terminals, following threats of a strike that would paralyse oil exports, reports AFP. “The cabinet decided to grant a 30 percent increase in salaries of employees at the oil terminals in Basra and in Khor al-Aamaya” near the southernmost Faw peninsula, government spokesman Ali […]
Iraq has warned Shell that it needs to finalise a $12 billion [14.4 trillion Iraqi dinar] gas deal by next week or it would cancel negotiations over the agreement, the country's deputy oil minister, Ahmed al-Shamma, said on Monday. "We warned Shell that either we finalise... the deal next week or we will cancel everything", […]
Petronor FZE, an oilfield services company operating in Iraq, announced today that, following South Oil Company (SOC) approval, has signed a contract with Shell to provide offices and accommodations in its Iraq Energy City near Basra. A next-generation oilfield supply base, Iraq Energy City provides working and living space to a wide-array of oilfield service […]
Hundreds of employees of Iraq’s state-owned South Oil Company have gone on strike in Basra city on Monday, demanding improvement of their living standards and salaries, and the formation of integrity committees to uncover the financial and administrative corruption in the Company. A trade union activist told Aswat al-Iraq news agency that the demonstrators have […]
Iraq's South Oil Company said on Tuesday that productivity at the West Qurna-1 oil field increased to 300,000 barrels per day, and stressed that the productivity of the field will rise at the end of the current year to 400,000 barrels per day. ExxonMobil, which along with Shell has the contract to develop West Qurna […]
