Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. Turkish Petroleum (TPAO) and BP have signed a memorandum of understanding (MoU) on strategic cooperation in oil and natural gas. The agreement was signed by TPAO General Manager Cem Erdem and BP Head of Global Oil and Gas Business Development Andrew McAuslan, in the presence of Turkey's Minister of Energy and Natural […]
By John Lee. The Undersecretary at Iraq's Ministry of Foreign Affairs has told state-run Iraqi News Agency that work to rehabilitate the Kirkuk-Baniyas oil pipeline remains suspended due to the security situation in Syria. He added that government is reviewing alternative export routes, including: Oil export link via Turkey Proposed connection through Jordan to Egypt […]
By John Lee. China Oil HBP Science & Technology Co., Ltd. has signed an EPCOM [Engineer, Procure Construct, Operate and Maintain] contract worth $225,218,000 for the Naft Khana oilfield rehabilitation project with NK Petroleum Company Limited and its Iraq branch. The contract covers engineering, procurement, construction, operation and maintenance services aimed at restoring crude oil […]
By John Lee. A fire that broke out in a compressor unit at the Salah 2 refinery in Baiji has been brought under control, with refinery operations stabilised shortly afterwards. The incident began at approximately 19:45 on Monday, with safety and firefighting teams bringing the fire under control by 20:00. All containment operations were completed […]
By John Lee. In a statement to the markets this morning, Norway's DNO, which operates the Tawke license in the Kurdistan region of Iraq, has said it, "aims to access export markets or export prices later in the year." Some are interpreting this as meaning that DNO is considering joining the agreement that re-started the […]
By John Lee. Gulf Keystone Petroleum (GKP) announced on Wednesday that it intends to complete the Company's previously announced proposal to pursue a dual listing of its shares on Euronext Growth Oslo operated by the Oslo Stock Exchange. Full statement from GKP: Intention to complete listing on Euronext Growth Oslo and fully underwritten retail offer […]
By John Lee. Energy Intelligence reports that Iraq's state-owned Basra Oil Company (BOC) has subcontracted management of the West Qurna-2 oil field to a consortium of Italian engineering firm Bonatti and local firm Hilal al-Basra [Crescent Basra]. West Qurna-2, operated by Lukoil under a service contract, is fully state-owned. Following recent US sanctions on Lukoil […]
By John Lee. The Iraqi Drilling Company (IDC) completed the drilling and rehabilitation of 14 oil wells across several Iraqi oilfields in January 2026, in line with approved operational plans to support and increase oil production. The work included four new wells and the rehabilitation of ten existing wells. Kazem Habash Khalaf, Deputy Director General […]
By John Lee. The Ministry of Oil has reviewed progress on major development projects at the Rumaila oil field in Basra governorate. On behalf of Deputy Prime Minister for Energy and Minister of Oil Hayan Abdul Ghani Al-Sawad, Undersecretary for Upstream Affairs Bassem Mohammed Khudair conducted a field visit to Rumaila to follow up on […]
By John Lee. The Ministry of Oil has announced the successful commissioning of the Fluid Catalytic Cracking (FCC) unit at South Refineries Company (SRC), with the start of production of high-octane upgraded petrol. Deputy Prime Minister for Energy and Minister of Oil Hayan Abdul Ghani Al-Sawad praised the workforce at South Refineries Company for achieving […]
By John Lee. The Deputy Prime Minister for Energy and Minister of Oil, Hayan Abdul Ghani Al-Sawad, has formally assumed his duties as Acting Minister of Electricity, following an official mandate from the Council of Ministers. He replaces Ziyad Ali Fadhil [Fadel], who has taken up his seat as a member of parliament. According to […]
By John Lee. The Ministry of Oil has reviewed progress on the Gas Growth Integrated Project (GGIP) in Basra during a site visit to the Artawi [Ratawi] oilfield. Undersecretary for Extraction Affairs Bassem Mohammed Khudair inspected key projects being implemented by TotalEnergies, in partnership with QatarEnergy and Basra Oil Company (BOC). The visit covered the […]
