The Cabinet held its regular meeting in Baghdad on Tuesday under the chairmanship of Prime Minister Mustafa Al-Kadhimi. At the start of the meeting, the Prime Minister thanked health teams for their sacrifices on the front line during the Covid-19 pandemic. The Cabinet received a briefing from the Minister of Health on the latest developments and the […]
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Iraq Denies Plans to Shut al-Ahdab Field
By John Lee. Iraq's oil ministry has denied a report from Bloomberg that it plans to shut down the al-Ahdab oil field in Wasit due to protests. In a statement the Ministry said the protests near the field are not related to the oil industry, but to the administration of the province. (Source: Ministry of […]
Iraq to Build 5 New Refineries
By John Lee. The Iraqi Ministry of Oil has reportedly announced that it will select a number of international investment companies to build five new refineries around the country: Kirkuk with a capacity of 70,000 barrels per day (bpd); Wasit capacity of 140,000 bpd; Nasiriyah capacity of 140,000 bpd; Basra card 140,000 bpd; and al-Faw […]
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Oil Ministry Offers 3 Refineries for Investment
By John Lee. Iraq's Ministry of Oil has invited international companies to bid for three new oil refineries, to be build on BOOT or BOO bases: Kut, in Wasit governorate, with a capacity of 100,000 bpd; Hadeetha, in Anbar governorate, with a capacity of 70,000 bpd; Diwaniya governorate, with a capacity of 70,000 bpd. (Source: […]
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Petrel Resources Shares Slump following Iraq Settlement
By John Lee. Shares in Irish-based Petrel Resources were trading 20 percent down on Friday after the company said it had reached a settlement in respect of the disposal of 2.2 million Petrel shares by Amira Petroleum's advisers notwithstanding a lock-in agreement entered into on 19 August 2013. According to the company: On 14 August […]
Trial Shipments of LPG from Badra Oilfield
By John Lee. Russia's Gazprom Neft has reportedly started production of liquid petroleum gas (LPG) at its Badra field in Wasit Province. According to Energy Business Review, the company has started trial shipments of LPG to Iraq’s state-owned gas filling company, and to the Az-Zubaydiyah power station. The facility is expected to be operation in […]
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Efforts to Privatize Electricity face Resistance
By Salam Zidane for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. In a meeting held Feb. 21, Najaf’s provincial council followed in the footsteps of Dhi Qar, Muthanna, Wasit and Diwaniyah and voted against the privatization of the electricity sector in […]
Badra Oilfield to Increase Production
By John Lee. The senior deputy minister for oil has said that production at the Badra oilfield in Wasit province will reach 65,000 bpd by the end of this year. Fayadh H. Niema made the announcement during his inspection visit to two oil and gas treatment units at the field. Assim Jihad, spokesman for the […]
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The Iraqi Shanty Town Between Two Oil Fields
This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Between Black Gold, Bleak Prospects: Visiting The Iraqi Shanty Town Between Two Oil Fields NIQASH visits Wasit's Oil Town. But this is no wealthy area for oil billionaires. This shanty […]
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IBBC and the Southern Governorates
By Robert Tollast. The following opinions are the author's only, and do not necessarily represent the views of Iraq Business News. Despite the grim headlines, the main challenge for doing business in many parts of Iraq is not really security, it is still bureaucracy and a lack of clarity regarding who is responsible for different […]
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Petrel Resources "Incurs no Costs" in Iraq
By John Lee. In its Interim Statement for period ended 30 June 2015, Irish-based Petrel Resources issued the following update on its operations in Iraq: "Our third theatre of activities is Iraq, where we have had a presence for 18 years. The original Petrel interest was in Block 6 in the Western Desert between Baghdad […]
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Petrel says "Virtually no Activity" in Iraq
By John Lee. In a statement to the company's Annual General Meeting in Dublin on Wednesday, the Chairman of Petrel Resources, John Teeling, said that there is "virtually no activity" at the company's interests in Iraq. "The Block 6 acreage in Anbar province is a no-go area. There remains a belief that the authorities in […]