Iraq Oil & Gas News Archives - Panorama Insurance Brokers

Key Speakers to address Iraq Petroleum Virtual Event

Iraqi Government and Oil and Gas Industry Thought Leaders to Speak at Iraq Petroleum Virtual Event Annual Conference set to navigate the future of the oil and gas industry in Iraq Conference will include online conference sessions available live and on demand for all attendees Delegates will gain insights into the latest policy and project… Read More

Iraqi Oil Minister to head INOC

By John Lee. Iraq’s Oil Minister, Ihsan Ismaael [Ahsan Abdul-Jabbar Ismail], will reportedly become the head of a recently-revived Iraq National Oil Company (INOC). Mr Ismael was previously the director general of the state-run Basra Oil Company (BOC); he joined the cabinet of Prime Minister Mustafa Al Kadhimi in June. More here. (Source: The National)… Read More

Genel Energy Publishes Sustainability Report

Genel Energy has published its first comprehensive Sustainability Report, prepared in accordance with the Global Reporting Initiative (‘GRI’) Standards core option. Bill Higgs, Chief Executive of Genel, said: “Genel has had a longstanding commitment to positively impact the communities in which we operate. This has focused on three core areas – economic development, education, and… Read More

DNO Starts Gas Capture in Kurdistan

DNO ASA, the Norwegian oil and gas operator, today announced that the USD 110 million Peshkabir Gas Capture and Injection Project in its Tawke license in the Kurdistan region of Iraq is onstream and has reached the one billion cubic feet of gas injection milestone. The project is expected to reduce annual emissions from the… Read More

Genel Energy considers new Bond Issue

By John Lee. Genel Energy has engaged Pareto Securities to organise a roadshow with international credit investors. The Company may, subject to market conditions and acceptable terms on the new issue, raise a new five-year bond of up to $300 million to replace the Company’s existing bond maturing in December 2022. Genel had cash in… Read More

Eni to Invest $4bn in Iraqi Refinery?

By John Lee. Italian oil company ENI is reported to be in talks to build a $4-billion, 300,000-bpd refinery near Iraq’s Zubair oil field. S&P Global quotes Oil Minister Ihsan Ismaael [Ahsan Abdul-Jabbar Ismail] as saying that that the first phase, with a capacity of 150,000 bpd, would be operational by 2025. The Minster reportedly… Read More

Detailed Assessment of INOC Law First Amendment

By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The following is an executive summary of my detailed assessment of the INOC Law First Amendment, currently debated by the Council of Ministers: The verdict by the Federal High Court-FHC regarding the… Read More

GKP Reports Loss for 1H 2020

By John Lee. Shares in Gulf Keystone Petroleum (GKP) were trading largely unchanged at lunchtime on Thursday, after the company announced a loss for the half year ended 30 June 2020. Company statement: Jón Ferrier, Gulf Keystone’s Chief Executive Officer, said: “We moved decisively to protect the business and preserve liquidity in response to COVID-19… Read More

Preliminary Oil Export Figures for August

By John Lee. Iraq’s Ministry of Oil has announced preliminary oil exports for August of 80,494,536 barrels, giving an average for the month of 2.597 million barrels per day (bpd), down from the 2.763 million bpd exported in July. These exports from the oilfields in central and southern Iraq amounted to 77,505,136 barrels, while exports… Read More