Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By Nadim Kawach, for Arabian Gulf Business Insight (AGBI). Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraq Drains $16bn from Reserves after Oil Revenues Slump Iraq's foreign-currency reserves fell by nearly $16 billion in four months this year as the government tapped […]
By Alex Kimani, for OilPrice.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Can Iraq Really Replace Saudi Arabia As The Middle East's Top Oil Producer? The global power of most Middle Eastern countries remains dependent on their oil and/or gas output, so it […]
By John Lee. Iraq's Council of Ministers has approved an amendment to allow crude oil exports to Turkey of up to 33,000 barrels per day (bpd) as a first stage, in connection with a water framework agreement between the two countries. According to the Prime Minister's Office, the decision amends Council resolution 388 of 2026, […]
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. Why The U.S. Is Racing To Lock Down Iraq's Most Explosive Geopolitical Gas Prize Sharing its eastern border with Iran, its northern border with Turkey, its western border with Syria and […]
By John Lee. Two new operations centres and an electronic gas movement tracking system have been launched at the General Company for Gas Filling and Services in Baghdad, as part of the Ministry of Oil's digital transformation programme. According to the Ministry of Oil, a Security Operations Centre (SOC) and a Technology Operations Centre (TOC) […]
By John Lee. A tanker was struck by an unknown projectile approximately 28 nautical miles south-east of Al Faw today (Wednesday). The vessel's crew are reported safe and no environmental impact has been reported. According to the United Kingdom Maritime Trade Operations (UKMTO), authorities are investigating the incident. Vessels are advised to transit the area […]
By John Lee. Iraq's fourth international oil, gas and licensing rounds conference has opened in Baghdad, with the Ministry of Oil outlining progress on exports, refining and infrastructure over the first 100 days of the new government. According to the Ministry of Oil, Minister Basim Muhammad Khudhair al-Abadi said oil exports had risen from around […]
By Tsvetana Paraskova, for OilPrice.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq Hikes Oil Exports via Hormuz in Boon for Asian Refiners OPEC's second-largest producer, Iraq, more than doubled its crude oil exports via the Strait of Hormuz in August as it […]
By John Lee. DNO ASA confirmed on Friday morning it does not intend to make an offer to acquire Genel Energy plc, following the Genel board's refusal to engage with its proposal. Genel shares fell more than 10% on the news. DNO had proposed 69 pence per share in cash, with a cash-and-share alternative. The […]
By John Lee. Iraq has set a target of raising oil production to around 10 million barrels per day (bpd) by 2030, under a strategic plan covering the period 2027-2030. According to the Prime Minister's Office (PMO), Prime Minister Ali al-Zaidi chaired a meeting at the Ministry of Oil attended by the ministers of finance […]
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 […]
