Energy

Iraq seeks backup options for West Qurna 2

As a sanctions deadline looms, Basra Oil Company is poised to manage the 480,000 bpd field while Lukoil continues negotiating to sell its stake.

A ceremony at the West Qurna 2 oil field in Basra to mark the opening of two new well complexes on June 1, 2023. (JASSIM AL-JABIRI/Iraq Oil Report)

Oct 2, 2007

TOP STORY: Iraqi Kurds sign the next batch of oil deals, with many more to follow

Iraq’s Kurdistan Regional Government made a sudden but not unexpected announcement Tuesday it had signed four more controversial oil deals. While the move highlights success in the region, it comes as the central government in Baghdad struggles to meet long-term agenda items like a national oil law.Iraq’s government reacted to the news in the same […]

Oct 2, 2007

BREAKING NEWS: KRG signs 4 new Production Sharing Contracts

The Kurdistan Regional Government of Iraq announced Tuesday morning it has signed four additional production sharing contracts and deals for two new oil refineries. Two of the PSCs have been named: one to Heritage Energy Middle East Ltd., a wholly owned subsidiary of the Canadian firm Heritage Oil & Gas; the other to Perenco Kurdistan […]

Oct 1, 2007

TOP STORY: Biden defends Iraq federalism plan, explains the oil factor

It appears that U.S. Sen. Joe Biden’s attempt at breaking the political deadlock in Baghdad with legislation calling for a weak central government in Iraq has done more for bringing politicians together than all recent U.S. efforts combined. Of course, Iraqis (except for the Kurds) are united against his plan, as is the U.S. embassy […]

Sep 28, 2007

State Dept. slams Hunt Oil-Iraq deal

The U.S. State Department said oil companies who sign deals in Iraq with the Kurdistan Regional Government are taking a risk, and this is what they tell companies who contact them. When queried about the Hunt Oil deal signed with the KRG earlier this month, a state department spokesman said he was "not sure how […]

Sep 27, 2007

U.S. not happy with Hunt Oil

U.S. Embassy officials in Baghdad told reporters Dallas-based Hunt Oil’s deal with the Kurdistan Regional Government has "needlessly elevated tensions" with the federal Iraq government. AFP has the story from Baghdad. I’ll bring it up at Friday’s State Department briefing here in Washington, if there is one. So far the U.S. government has been fairly […]

Sep 27, 2007

Iraq oil exploits and the legal regime

I sat down with J. Jay Park in Dubai, the man who helped the Somali government craft its new oil law and has worked with all sides in Iraq oil law. He holds training sessions for the Iraq Oil Ministry, and represented Canada's Western Oil Sands in their contract with the Kurdistan Regional Government. We […]

Sep 25, 2007

Iraq and the Oil Overshadowed

As the U.S. and world media play with President’s Bush and Ahmadinejad, there is a slowdown of Iraq energy related information. However, Oil Minister Hussain al-Shahristani is none too pleased with the KRG. Also in today’s Iraq Oil Report, Iraq offers Jordan more discounts to the oil. Plus, at the end, I’ll supply some details […]

Sep 24, 2007

The Greenspan flap, Iraq’s oil and accusations of U.S. attempts to control it…

Former Fed. Reserve Chair Alan Greenspan, prophet of U.S. economic stability, sure started a firestorm with the 20 words in his book that said the Iraq war is about oil. Walid Khadduri reports in Dar Al-Hayat on the ensuing discussion that needs to happen now that the flames have been fanned. A person with the […]

Sep 21, 2007

Clearing up the muddy Iraq oil debate

This is a good time to clear up some of the issues surrounding the debate over Iraq’s oil and proposed legislation related to the hydrocarbons sector. Oil Law Semantics Except for President Bush, most members of Congress and others detached, the "Oil Law," also referred to as the "Oil and Gas Law" and the "Hydrocarbons […]

Sep 20, 2007

Iraq Oil Unions Claim U.S. Troops Shot Chief Engineer

The Iraq Federation of Oil Unions held a protest in Basra today outside the Southern Oil Company’s office. They claim U.S. troops shot a worker in the Rumaila field, and want action by both the Iraq and U.S. governments. "They treated him as if he was an animal, they shot at him and kept on […]