Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. Iraq's Ministry of Oil has announced a long-term plan to raise production at the Akkas gas field to 400 million standard cubic feet per day (MMscfd), with an interim target of 143 MMscfd by mid-2027. A meeting with a delegation from US company ConocoPhillips is expected in Baghdad to discuss implementation of […]
By John Lee. A meeting has been held to review technical and economic details of two strategic crude oil export pipeline projects: the Basra-Haditha pipeline (extending to Fishkhabur) and the Haditha-Baniyas pipeline. Prime Minister Ali al-Zaidi chaired the meeting, which was attended by the Minister of Oil, senior ministry officials, the director of the Prime […]
By Simon Watkins, for OilPrice.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. The U.S. Power Play in Iraq That Moscow and Beijing Didn't See Coming As Russia remains occupied with its war in Ukraine, Iran focuses on defending its territory against U.S. and […]
By John Lee. Iraq's Ministry of Oil has held talks with a delegation from Qatari company UCC on the proposed Basra-Haditha-Fishkhabur and Haditha-Baniyas pipeline project. Discussions covered the contract type, implementation timeline, and other technical matters. Minister of Oil Basim Muhammad Khudhair al-Abadi, attended by Deputy Minister for Extraction Affairs Nassir Aziz, called for the […]
By John Lee. Chinese oilfield services group Anton Oil reported a 16.2% decline in revenue from the Iraq market in the first half of 2026, with regional disruption cited as the primary cause. Revenue from Iraq fell to approximately RMB 1,212.4 million from RMB 1,447.2 million in the same period of 2025, representing 45.2% of […]
By John Lee. Shares in Gulf Keystone Petroleum (LSE: GKP) are trading up around 10 percent this morning (Tuesday, 25th August) after the company published its 2026 half-year results. Full statement from GKP: 2026 Half Year Results Announcement Gulf Keystone, a leading independent operator and producer in the Kurdistan Region of Iraq, today announces its results […]
By Noam Raydan, for Seatrade Maritime. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Despite Pipeline Talks, Hormuz will Remain Key to Iraq's Oil Exports Amid the protracted crisis in the Strait of Hormuz, Iraq has been racing to find new outlets and […]
By John Lee. Iraqi Prime Minister Ali al-Zaidi has announced plans to distribute one million residential land plots to citizens, with the last plot to be allocated within three years. He made the comments on Friday during a session at the eighth Baghdad Dialogue Conference, organised by the Iraqi Institute for Dialogue. According to the […]
By John Lee. Iraq's Council of Ministers has approved new mechanisms for exporting Iraqi oil through specialist international and domestic companies via multiple outlets, under contracts of three months' duration beginning 1 September 2026. The Council also approved exceptional authorisations to expand export and import capacities. The Minister of Oil, Basim Muhammad Khudhair al-Abadi, has […]
By John Lee. Iraq's Cabinet of Ministers has approved a set of measures to reform crude oil pricing and reduce fuel subsidies, effective from 1 September 2026. Under the approved measures: Crude oil purchases will be priced at either the State Oil Marketing Organization (SOMO) rate or the price stipulated in the general budget, whichever […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. A New Initiative to Expand Iraqi Crude Oil Exports Calls to expand Iraq's oil exports have intensified lately. All such calls focus on a westward direction, suggest unilateral routes, and are governed […]
By John Lee. Iraq's Ministry of Oil is planning a strategic overhaul of the Iraqi Oil Tanker Company (IOTC), including partnerships with tanker-owning firms, deferred-payment purchases, and leasing arrangements to expand the fleet. The ministry's aim is to acquire large modern vessels with a capacity of up to two million barrels, better suited to the […]
