Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. Genel Energy has issued a trading and operations update in respect of the third quarter and first nine months of 2025. Regarding the company's operations in Iraqi Kurdistan, it said: PRODUCTION: KURDISTAN TAWKE PSC (25% interest) Gross production levels are now back to around 80,000 bopd, consistent with the levels achieved in […]
By John Lee. Iraq's Oil Pipelines Company has signed a strategic partnership agreement with Dubai-based Progwin Ltd as part of the Ministry of Oil's efforts to enhance technical and engineering capabilities and strengthen cooperation with reputable international firms. Director General Ali Abdul-Karim Al-Moussawi said the agreement aims to expand technical and investment cooperation between the […]
By John Lee. The State Company for Petrochemical Industries in Basra, part of the Ministry of Industry and Minerals, has announced a series of projects aimed at restarting production across its plants and strengthening Iraq's national industry. Director General Mazen Abdul-Razzaq said the company is continuing implementation of a partnership contract to establish a chlorine […]
By John Lee. The Ministry of Oil has announced the completion of drilling the deepest horizontal well at the Bazargan oil field. According to Hussein Kazem Laibi, Director General of the Maysan [Missan] Oil Company, the achievement was marked by the completion of well BUCN-226H in early November 2025. He told the state-owned Iraqi News […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. MoO Should Brace for ROCs' Coerced Exodus The tripartite (UK, EU and US) sanctions against Russian oil companies (ROCs), Lukoil and Rosneft, present direct, immediate and impacting threats to the development of […]
By John Lee. Swiss-based Gunvor Group has withdrawn its proposal to acquire Lukoil's international assets following opposition from the US Treasury Department. The Treasury stated that Gunvor would not receive a licence to operate as long as Russia continues its military actions in Ukraine, describing the company as "the Kremlin's puppet." Gunvor rejected the claims, […]
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Will return of US oil giant herald western re-engagement with Iraq's energy sector? ExxonMobil has signed a preliminary agreement with Baghdad to develop the supergiant Majnoon oil field. The move signals the company's […]
By John Lee. DNO ASA has reported record revenue of USD 547 million and an operating profit of USD 222 million for the third quarter of 2025, both more than double the figures from the previous quarter. Regarding its operations in Iraqi Kurdistan, it reported that gross production at the Tawke licence, where it holds […]
By John Lee. KBR (United States) has been selected by ENKA Insaat (Turkey) to provide detailed engineering design services for the Associated Gas Upstream Project Phase 2 (AGUP2), part of the Gas Growth Integrated Project (GGIP) operated by TotalEnergies in partnership with Basra Oil Company (BOC) and QatarEnergy in Iraq's Basra region. This latest award […]
By John Lee. France's Vallourec has been awarded a second contract by TotalEnergies to supply casing, tubing, and associated accessories for the drilling of 48 wells under the Associated Gas Upstream Project 2 (AGUP2). The project forms a key part of the Gas Growth Integrated Project (GGIP), operated by TotalEnergies in partnership with Basra Oil Company […]
By John Lee. Iraq's Ministry of Oil has begun the initial stages of trial operations at the North Refinery-2 and Salahuddin Refinery-3, with a combined refining capacity of 140,000 barrels per day (70,000 bpd each), according to Adnan Mohammed Hamoud, the Deputy Minister of Oil for Refining Affairs. Hamoud described the achievement as one of […]
By John Lee. Genel Energy has announced that, following a period of ill health, David McManus has decided to retire as Chair and is stepping down from the Board with immediate effect. Canan Ediboğlu, Senior Independent Non-Executive Director, has been appointed as interim Chair until the search for a permanent Chair is completed. Yetik K. […]
