Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. The Ministry of Oil has inaugurated the strategic Third Offshore Pipeline Project ('Sealine 3' Project), one of the most important initiatives aimed at strengthening Iraq's southern crude oil export system. Deputy Prime Minister for Energy Affairs and Minister of Oil Hayan Abdul Ghani said during the inauguration ceremony in Basra that the […]
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Fragile accord sees resumption of oil exports from Iraqi Kurdistan Iraqi federal authorities and the Kurdistan Regional Government (KRG) are celebrating an agreement to resume oil exports via Turkey after a two-and-a-half year […]
By Noam Raydan and Soner Cagaptay, for the Washington Institute for Near East Policy. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. How Renewed Oil Flows from the ITP Could Benefit U.S.-Iraq-Turkey Relations The potential economic and strategic benefits of reopening the northern Iraqi […]
By John Lee. The State Company for Mining Industries, part of Iraq's Ministry of Industry and Minerals, has announced the completion of a new project to produce xylene, solvents, and high-quality refined fuel, in partnership with the private sector. Director General Eng. Mohammed Qasim Muftin said the fully completed project includes six integrated production units […]
By John Lee. Iraq's Minister of Electricity, Eng. Ziyad Ali Fadel, met with a senior delegation from U.S.-based Excelerate Energy to discuss plans for importing and processing liquefied natural gas (LNG) through a floating platform at Khor al-Zubair in preparation for summer 2026. The Government of Iraq issued an Award Letter to Texas-based company last […]
By John Lee. Deputy Prime Minister for Energy Affairs and Minister of Oil Hayan Abdul Ghani Al-Sawad met today (Wednesday) with a joint delegation from Russia's Lukoil and Japan's INPEX. The discussions focused on cooperation across Iraq's oil, gas, and energy sectors. The delegation included Ivan Romanovsky, Lukoil Vice President for the Middle East; Elnur […]
By John Lee. US energy major ExxonMobil has signed a Heads of Agreement (HOA) with Iraq's Ministry of Oil. A statement today (Wednesday) from the Prime Minister's Office gave few details, but the agreement is thought to involve the Iraq's giant Majnoon field. During a meeting with ExxonMobil Vice President Peter Larden and the accompanying […]
By John Lee. Oil Minister Hayan Abdul Ghani has overseen the activation of a major development contract for four Kirkuk oilfields and the rehabilitation of gas facilities. The agreement was signed between North Oil Company (NOC), North Gas Company (NGC), and BP. The contract covers the Kirkuk (Baba and Avana domes), Jambur, Bai Hassan, and […]
From Rudaw. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq reveals plan to increase oil production to 5.5 million Iraq aims to increase its daily oil production from 4.4 million barrels to 5.5 million barrels by the end of this year, Oil Minister […]
By John Lee. The Government of Iraq has issued an Award Letter to Texas-based Excelerate Energy to develop an integrated floating liquefied natural gas (LNG) import terminal. The project is intended to strengthen Iraq's energy security, support domestic power generation, and diversify supply away from unreliable sources. The company said the decision followed approval from […]
By John Lee. The industry group representing international oil companies (IOCs) in Iraqi Kurdistan has clarified the payment mechanism for oil exported through the Iraq-Turkiye pipeline (ITP). In a statement on X on Wednesday evening, the Association of the Petroleum Industry of Kurdistan (APIKUR) said: "Info: The payment mechanism for oil exported through the Iraq-Türkiye […]
By John Lee. OPEC has said it has received updated compensation plans from several countries, including Iraq, to compensate for excess oil production. Full statement from OPEC: OPEC Secretariat receives updated compensation plans from Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, and Oman As agreed during the virtual meeting held by the eight countries […]
