Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. Gulf Keystone Petroleum (GKP) has said it has "temporarily shut-in production" at its Shaikan field in Iraqi Kurdistan. In a statement this morning (Wednesday), the company said: "Gulf Keystone has noted reports over the past two days of explosions at a number of oil fields in the vicinity of the Company's Shaikan […]
By John Lee. DNO, the operator of the Tawke field in Iraqi Kurdistan, reported three explosions this morning (Wednesday). In a statement, the company said: "DNO ASA, the Norwegian oil and gas operator, reports that operations at its Tawke license in the Kurdistan region of Iraq have been temporarily suspended following three explosions early this […]
By John Lee. The Ministry of Oil has signed an agreement in principle with HKN Energy to develop the Hamrin field in northern Iraq. The agreement, signed on Tuesday between North Oil Company (NOC) and the US-based company aims to increase the field's output to 60,000 barrels per day, up from the current 20,000-25,000 bpd, […]
By John Lee. The Khurmala oil field, located in the Makhmour district west of Erbil province, was struck by two unidentified drones at approximately 8:30 PM on Monday, 14 July 2025. According to the Joint Operations Command's Security Media Cell, there were no human casualties, with the damage limited to material losses. Authorities have initiated […]
By John Lee. HKN Energy has confirmed an explosion occurred early on Tuesday morning at one of its production facilities in the Sarsang field, located in the Kurdistan Region of Iraq. The incident took place at approximately 7:00 AM local time on 15 July 2025. According to the company, all personnel have been safely accounted […]
By John Lee. The Association of the Petroleum Industry of Kurdistan (APIKUR) has welcomed it described as renewed and intensified negotiations between the Kurdistan Regional Government (KRG) and the Government of Iraq (GoI) aimed at resuming oil exports via the Iraq-Türkiye Pipeline (ITP). The statement follows a high-level meeting held on 12th July 2025 between […]
By Alexander Miller, for Eurasia Business News. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Russia eyes new oil deals in Iraq Russia is actively expanding its oil interests in Iraq, capitalizing on opportunities created by Baghdad's need to modernize its hydrocarbon sector and […]
By John Lee. Prime Minister Mohammed Shia Al-Sudani received Richard Howe, Executive Vice President of Shell, on Thursday to discuss expanding cooperation in Iraq's energy sector and exploring further investment opportunities. The meeting addressed the execution of major energy projects under existing contracts with international companies, particularly in natural gas investment aimed at achieving self-sufficiency. […]
From IDG Security: How Do Local Regulations Affect Foreign and Local Businesses Differently in Iraq? Iraq presents a unique and complex environment for businesses, with its blend of immense economic opportunities and intricate regulatory challenges. For foreign investors, understanding how local regulations impact both foreign and local businesses is crucial to navigating this dynamic market. […]
By John Lee. Prime Minister Mohammed Shia Al-Sudani has laid the foundation stone for the expansion of the Najaf [Al-Ashraf] refinery, a strategic project that will increase refining capacity by 70,000 barrels per day. The ceremony, held on Wednesday, marks the start of execution works for the project, which forms part of the government's broader […]
By John Lee. France's Vallourec has secured two contracts to supply Oil Country Tubular Goods (OCTG) to support the drilling operations of China National Offshore Oil Corporation (CNOOC) and PetroChina in Iraq. According to a statement from the company, these contracts carry potential revenue of over $130 million [IQD 170 billion]. The contracts cover the […]
By John Lee. Iraq's Ministry of Oil has started work to expand the Diwaniya Refinery by adding a new 70,000-barrel-per-day (bpd) processing unit, bringing the refinery's total capacity to 90,000 bpd. Minister of Oil, Eng. Hayan Abdul Ghani, confirmed the Ministry's commitment to enhancing production at Iraqi refineries, with a focus on achieving self-sufficiency in […]
