Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
From Dana Gas: Dana Gas and Crescent Petroleum announce successful US$500 million bond placement by Pearl Petroleum Dana Gas PJSC and Crescent Petroleum, joint operators of the Pearl Petroleum Consortium [has] announced the successful placement of a US$500 million senior secured bond by Pearl Petroleum Company Limited, at a fixed coupon of 10.375% per annum, […]
By John Lee. Trial production has begun at the Amara Gas Separation Station, operated by Maysan [Missan] Oil Company (MOC), at an initial rate of 3,000 barrels per day (bpd). Hussein Kazem La'ibi, Director General of Maysan Oil Company, said the station is operating under a phased plan to increase output progressively, with a target […]
By John Lee. The Iraqi Drilling Company (IDC) has begun drilling operations at well RT-80 in the Artawi oil field in Basra province, on behalf of TotalEnergies. According to Iraq's Ministry of Oil, the work forms part of IDC's ongoing drilling programme across the country's oil fields. IDC Director General Mohammed Hantoush confirmed the operation, […]
By John Lee. Agreements have been reached on a contract for the West Qurna 2 oil field, with a signing expected before the end of 2026. Discussions are also continuing on a development contract for the Nasiriyah oil field and four exploration blocks. According to the Ministry of Oil, Minister Basim Muhammad Khudhair al-Abadi met […]
By John Lee. A second meeting of the Iraqi-Jordanian-Egyptian trilateral coordination committee has discussed strategic oil, energy, and petrochemical projects, including the Basra-Haditha pipeline. The session was held via videoconference and chaired by Ali Ward Hammoud, Director General of the State Company for Oil Projects (SCOP), who leads the Iraqi working group for the Tripartite […]
By John Lee. Seven OPEC+ member countries have agreed to maintain their September 2026 production levels for December 2026. The group met virtually on Saturday to review global market conditions, with Iraq's Oil Minister, Bassem Mohammed al-Abadi, in attendance. Full statement from OPEC: Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman reaffirm commitment to […]
By John Lee. A memorandum of understanding (MoU) has been signed between Iraq's General Company for Carbon Economics (GCCE) and US-based Morgan Hughes Energy (MHE), aimed at developing projects to capture and utilise low-pressure associated gas currently being flared at oil production sites across Iraq. The agreement was signed under the patronage of Minister of […]
By John Lee. Development plans for the Block 9 (Fayhaa, Faihaa) and Siba gas field have been discussed between Iraq's Ministry of Oil and a senior delegation from United Energy Group (UEG), along with progress on the Fao exploration project. According to the Ministry of Oil, Naseer Aziz Jabbar, Undersecretary of the Ministry for Extraction […]
By John Lee. DNO, the Norwegian oil and gas operator, has reported strong financial and operational results for the third quarter of 2026, driven by the resumption of Kurdistan region of Iraq production and higher prices across its portfolio. Drilling activity in Kurdistan also stepped up during the quarter, with a second third-party rig deployed […]
By John Lee. A former director-general of Iraq's state-run Oil Products Distribution Company (OPDC) has been sentenced to eight years in prison and ordered to repay IQD 55 billion (USD 37 million) after being convicted for illicitly benefiting from contracts and agreements involving the North Refineries Company (NRC). According to the Federal Commission of Integrity, […]
By John Lee. Talks between Iraqi and Syrian officials in Damascus have covered oil exports from Iraq via the Syrian port of Baniyas, trade volumes, and agricultural cooperation. According to Iraq's Prime Minister's Office, the meetings were co-chaired by Prime Minister Ali al-Zaidi and Syrian President Ahmad al-Sharaa. Topics discussed included: Exporting Iraqi oil through […]
By John Lee. Iraq's Deputy Minister of Oil for Gas Affairs, Dr Izzat Sabir Ismail, addressed the Gas Exporting Countries Forum (GECF) meeting in Moscow on Tuesday, outlining the country's priorities for developing both free gas and associated gas resources. According to the Ministry of Oil, Dr Ismail described gas sector development as a national […]
