Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. Ramsis Engineering has opened a branch office in Basra, expanding its presence in Iraq's industrial and energy sectors. The Bahrain-based engineering firm said the new office will support clients and partners across manufacturing, maintenance, and specialised services. (Source: Ramsis Engineering)
By Yesar Al-Maleki, for the Atlantic Council. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Can Oil Deals Reset US-Iraqi Relations? As Iraq and the United States enter a new phase in their relationship, oil is assuming a more central role. During Prime […]
By John Lee. Irish-based Petrel Resources Plc (LON: PET) has published its unaudited interim statement for the six months ended 30 June 2026. Regarding prospects in Iraq, the company said: "Petrel cannot depend indefinitely on governments making decisions in Iraq ... "Petrel has been involved in Iraq since 1997. Over the years we have accumulated a […]
By John Lee. Six memoranda of understanding (MoUs) were signed between Iraq and France at the Élysée Palace in Paris on Monday, covering defence, energy, aviation, and youth and innovation cooperation. The agreements were signed during a visit by Prime Minister Ali al-Zaidi and were witnessed by French President Emmanuel Macron. According to the Prime […]
By John Lee. Patrick Pouyanné, chief executive of TotalEnergies, met Iraqi Prime Minister Ali al-Zaidi in Paris on Monday to review the company's strategic projects in Iraq, with a particular focus on gas. According to the Prime Minister's media office, TotalEnergies has existing oil investments in Iraq of $12 billion and is planning to increase […]
By John Lee. KAR Electrical Power Production Trading FZE (KEPPT), a sister company of Erbil-based KAR Group, has signed a 25-year contract with the North Oil Company (NOC) for the development and operation of the Ajeel oil field. According to the Ministry of Oil, the contract aims to increase gas production at the field from […]
By John Lee. A technical advisory agreement has been signed between Iraq's Ministry of Oil and Chevron to support Basra Oil Company (BOC) during negotiations related to the development of the West Qurna 2 oil field. The agreement was signed on Sunday under the auspices of Oil Minister Basim Muhammad Khudhair al-Abadi. The signing was […]
By John Lee. Iraq's oil exports are running at around 3 million barrels per day (bpd) in September, with plans to increase pipeline export capacity through Syria and Turkey's Ceyhan port by more than 1 million bpd. Minister of Oil Basim Muhammad Khudhair al-Abadi told the state-run Iraqi News Agency (INA) that Iraq remains within […]
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 […]
