Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. Iraq participated via video link in a meeting of OPEC+ countries to review global oil market conditions and the production outlook, as the group confirmed it will maintain its current production policy during early 2026. Full statement from OPEC: Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman reaffirm commitment to […]
By John Lee. Plans have reportedly been approved to expand the Najaf refinery's production capacity to 100,000 barrels per day, alongside the development of several oilfields in the province. The governor of Najaf, Yousif Kinawi, told the state-run Iraqi News Agency (INA) that the refinery's current capacity stands at around 30,000 barrels per day. Implementation […]
By John Lee. Construction has begun on a new field operations centre at the Naft Khana oilfield in Diyala province, marking a new phase of development for the project. The facility is being developed under a contract signed during Iraq's fifth licensing round between Midland Oil Company (MdOC) and the Chinese firm Geo-Jade, which covers […]
By Ahmed Tabaqchali, for the Institute of Regional and International Studies (IRIS) at the American University of Iraq, Sulaimani (AUIS). The opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq's Gas Flaring Paradoxes: Economic and Technical Obstacles Almost every year, since 2012, Iraq vies with […]
By John Lee. The Iraqi Drilling Company (IDC) has completed drilling the Majnoon-170 appraisal well at the Majnoon oilfield in Basra to a depth of 4,280 metres. The well was drilled using the IDC-57 rig, the largest drilling unit in Iraq, with a capacity of 3,000 horsepower. The work was carried out for the Basra Oil […]
By John Lee. Iraq's Ministry of Oil has announced finalised oil export volumes for November. Total exports of crude oil (including condensates): 106,593,352 barrels. Exports from the oil fields in central and southern Iraq amounted to 98,709,795 barrels. Exports from the Kurdistan Region via the Turkish port of Ceyhan amounted to 7,583,733 barrels. Exports to […]
By John Lee. The Ministry of Oil has confirmed that operations at the Nasiriya and Gharaf gas fields project will begin on schedule in the first quarter of 2027. In a statement, it said the installation of specialised equipment has begun, in collaboration with Baker Hughes. China Petroleum Engineering & Construction Corporation (CPECC) is also […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. A Debating Event on the Challenges Facing the Oil Sector in Iraq The "Al-Mushtarek" platform convened the event on Friday evening, December 19th. I addressed the most important and impacting challenges facing […]
By John Lee. The State Oil Marketing Organisation (SOMO) has issued a clarification in response to a Reuters report on 26 September 2025 regarding DNO's export activities. SOMO reaffirmed its commitment to fulfilling all obligations within its mandate and under existing agreements with the Kurdistan Regional Government (KRG), continuing efforts to ensure the smooth flow […]
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Is Iraq's pivot to refined oil a pipe dream? The vulnerability of Iraq's hydrocarbon-dependent economy to geopolitical shifts and regional instability is by now established wisdom. Yet, despite the political and economic expertise levied […]
From World Pipelines. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Syria, Iraq planning to revive Kirkuk-Baniyas oil pipeline Syria and Iraq are preparing to restart the Kirkuk-Baniyas oil pipeline, which runs from the Kirkuk fields in Iraq to the Mediterranean coast in Syria, […]
By John Lee. Deputy Prime Minister and Foreign Minister H.E. Fuad Hussein met Mr. Jin Xin, Assistant Minister of the International Department of the Communist Party of China's Central Committee, in Baghdad to review bilateral relations and future cooperation. Mr Hussein described China as a pivotal strategic partner for Iraq, noting that bilateral trade stands […]
