Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. An investigating judge at Iraq's Central Anti-Corruption Criminal Court has announced that preliminary investigations into a corruption case involving Adnan Muhammad Mahmoud, former deputy oil minister for refining affairs, have resulted in the seizure of significant assets linked to him and associates. The Supreme Judicial Council said the seizures include approximately 40 […]
By John Lee. Iraq's cabinet has approved a plan to significantly increase crude oil exports, including through a new route via Syrian Mediterranean ports, according to the Ministry of Oil. The cabinet, chaired by Prime Minister Ali al-Zaidi, endorsed recommendations from a meeting held on 20th May between the prime minister and senior Ministry of […]
By John Lee. The Mishraq Sulphur State Company, a subsidiary of Iraq's Ministry of Industry and Minerals, has signed a partnership agreement with a private Iraqi company to develop an integrated industrial project for refined sulphur production at the Al-Lazzaka 2 field [Al-Lazakah, Allizaqa] field [in Nineveh Governorate], with an initial production capacity of one […]
From 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. Two months left for Iraq and Turkey to reach pipeline deal Iraq is suffering a steep drop in its oil exports due to the near-closure of the Strait of […]
By John Lee. Iraq's Ministry of Oil has been authorised to negotiate a long-term agreement with Turkey governing the Iraq-Turkey pipeline (ITP), according to a cabinet decision. The Council of Ministers approved an amendment to Resolution 254 of 2026, extending the pipeline contract for four months. Under the amended resolution, the Ministry of Oil is […]
By John Lee. The General Company for Iraqi Cement, a subsidiary of the Ministry of Industry and Minerals, has reported a significant increase in the production of oil-well cement grades B and G at its Babylon [Babil] plant in February. According to the company, the plant produced 3,240 tonnes during February, a substantial rise compared […]
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. Iraq's Oil Collapse Sparks Race for New Export Routes April was indeed the cruellest month for decades for Iraq's crude oil production, with an average of 1.389 million barrels per day […]
By John Lee. Iraq's Council of Ministers has approved a scheme to supply private generator owners with gas oil at a subsidised price of IQD 200 per litre (approximately $0.15), down from IQD 400 per litre ($0.31), for the next three months. Under the scheme, operators will receive 40 litres per month for each KVA […]
By John Lee. Iraq's Ministry of Oil has announced finalised oil export volumes for April 2026. Revenue of just over $1 billion was significantly down on pre-war levels, which were typically between $6-7 billion. Total exports of crude oil (including condensates): 9,884,130 barrels. Exports of Basra oil amounted to 4,587,610 barrels. Exports from the Kurdistan […]
By John Lee. Dana Gas has reported a net profit of AED 270 million ($74 million) for Q1 2026, a 72% year-on-year increase. Regarding operation in the Kurdistan Region of Iraq (KRI), the company said: "Following the completion of the KM250 expansion, the Company successfully demonstrated enhanced system capacity, with gas production exceeding 700 MMscf/d […]
By John Lee. Iraq's State Oil Marketing Organization (SOMO) reports that it has successfully marketed and exported sulphur to global markets, with the current average price reaching around $755 per tonne. The company says the achievement reflects flexible marketing policies based on close analysis of global market conditions and sulphur demand. All available quantities from […]
By John Lee. Italy's Eni increased its hydrocarbon production in Iraq in 2025, with liquids rising from 10 to 11 million barrels (mmbbl), natural gas from 25 to 30 billion cubic feet (bcf), and total hydrocarbons from 15 to 17 million barrels of oil equivalent (mmboe). According to its latest Annual Report, activity centred on […]
