Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. Basra Oil Company (BOC) has reduced crude oil production from 3.3 million barrels per day to 900,000 barrels per day following the suspension of exports from southern ports. The reduction was confirmed during a meeting chaired by Deputy Prime Minister for Energy Affairs and Minister of Oil Hayan Abdul Ghani Al-Sawad to […]
Joint statement from the leaders of the United Kingdom, France, Germany, Italy, the Netherlands, Japan and Canada on the Strait of Hormuz: 19 March 2026 19 March 2026 We condemn in the strongest terms recent attacks by Iran on unarmed commercial vessels in the Gulf, attacks on civilian infrastructure including oil and gas installations, and […]
By John Lee. The Iraq Oil Exploration Company has completed a two-dimensional seismic survey programme for the Al-Qurnain exploration project in Najaf province, aimed at expanding Iraq's geological database and supporting future oil and gas discoveries. The project forms part of efforts by the Ministry of Oil to strengthen hydrocarbon exploration activities and increase the […]
By John Lee. Shares in Gulf Keystone Petroleum (LSE: GKP) were trading up more than 5 percent on Thursday after the company published its 2025 Full Year Results; they have risen more than 16 percent in the past week. Full statement from GKP: 2025 Full Year Results Announcement Gulf Keystone, a leading independent operator and producer […]
By John Lee. The Ministry of Oil has announced the resumption of crude oil pumping and exports from Kirkuk through Türkiye's Ceyhan port, with an initial export capacity of 250,000 barrels per day (bpd). The restart follows an agreement between the federal government and the Kurdistan Regional Government (KRG), enabling the reactivation of a key export […]
By John Lee. Iraq's Ministry of Oil has confirmed steps to export oil and oil derivatives via Turkey, Jordan and Syria. According to the state-run Iraqi News Agency (INA), Deputy Minister for Extraction Affairs Bassem Mohammed Khudair said that the State Oil Marketing Organization (SOMO) has begun signing contracts with international carriers and buyers to export […]
By John Lee. Genel Energy has issued its audited results for the year ended 31 December 2025. Full statement from Genel Energy: Audited results for the year ended 31 December 2025 Genel Energy plc ('Genel' or 'the Company') announces its audited results for the year ended 31 December 2025. Paul Weir, Chief Executive of Genel, […]
By John Lee. The Ministry of Electricity has announced a complete cessation in Iranian gas supplies to Iraq, resulting in the loss of approximately 3,100 megawatts of power generation capacity. Ministry spokesman Ahmed Mousa told the state-run Iraqi News Agency (INA) that the disruption resulted from developments in the region and had an immediate impact on […]
By John Lee. Iraq's Ministry of Oil has issued a further statement setting out its position on the resumption of exports through the Kirkuk-Ceyhan pipeline, following recent comments by the Kurdistan Regional Government's Ministry of Natural Resources. The statement describes the KRG ministry's position as political in nature, and sets out Baghdad's operational and legal […]
By John Lee. The Ministry of Oil has reportedly issued tenders to export Iraqi crude oil through the Syrian port of Baniyas and the Jordanian port of Aqaba, according to Oil Minister Hayan Abdul Ghani. In comments reported by the state-run Iraqi News Agency (INA), Abdul Ghani said Iraq remains heavily dependent on revenues from […]
By John Lee. Iraq's Ministry of Oil and the Kurdistan Regional Government's Ministry of Natural Resources have issued statements outlining differing positions on the possible resumption of crude oil exports through the northern pipeline to the Turkish port of Ceyhan. The exchange comes amid regional disruption affecting exports through the southern system via the Strait […]
By Charles Kennedy for OilPrice.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq To Restore Kirkuk-Turkey Pipeline as Iran War Chokes Off Exports Iraq is scrambling to restore a northern oil export route that would send crude from the Kirkuk fields directly to […]
