Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. The Iraqi Drilling Company (IDC) has completed drilling two oil wells: The first well, a delineation well, was drilled in the East Baghdad/Al-Rasheediyah field for the Midland Oil Company (MdOC). The second was drilled in the Qayara [Qayyarah] field in Nineveh province for Angola's Sonangol, marking the tenth well delivered by IDC […]
By John Lee. Gulf Keystone Petroleum (GKP) today announced its results for the half year ended 30 June 2025. Shares were trading up more than four percent at lunchtime. Jon Harris (pictured), Gulf Keystone's Chief Executive Officer, said: "We delivered strong operational and financial performance in the first half of 2025, with material free cash […]
By John Lee. The Chargé d'Affaires a.i. of the Embassy of the Republic of Iraq in Kuala Lumpur, Counselor Ahmed Ghanim Abduljabbar, has met with the leadership of SPARCO Engineering SDN BHD at the Embassy's headquarters. Executive Director Raja Ariff and Managing Director Sumasni Sulaiman expressed the company's intention to launch commercial and investment activities […]
By John Lee. Prime Minister Mohammed Shia Al-Sudani has received the President, Eastern Hemisphere, of Halliburton, Shannon Slocum, and his accompanying delegation in Baghdad. Al-Sudani emphasised that the presence of major international oil companies in Iraq reflects the government's commitment to developing the energy sector in line with global standards. He highlighted Iraq's plans to […]
By John Lee. The Iraqi Cabinet has authorised the Ministry of Electricity to sign an addendum with China's SEPCOIII [Electric Power Construction Corporation] for the construction of a dry gas pipeline supplying the Anbar Combined-Cycle Power Plant. The project involves a 250-kilometre pipeline, with the new addendum covering the construction of the section from the […]
By John Lee. Norway's DNO ASA has reported net production of 56,100 barrels of oil equivalent per day (boepd) from the Kurdistan Region of Iraq (KRI) in the second quarter of 2025, out of a company total of 92,600 boepd. Gross production was ramped up on a test basis to 55,000 boepd, split roughly evenly […]
By John Lee. Prime Minister Mohammed Shiaa Al-Sudani has overseen the signing of a principles agreement between the Ministry of Oil and US oil company Chevron for the development of several oil projects in Iraq. The agreement covers the Nasiriyah Project, consisting of four exploration blocks, the development of the Balad oil field, and other […]
From Kurdistan24. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. U.S. Sanctions on Iran Derail Crucial Iraq-Turkmenistan Gas Deal The U.S. opposes the Turkmenistan-Iraq gas deal as it routes gas via Iran, allowing Tehran to keep a share as a transit fee and profit […]
By John Lee. Turkey's Minister of Energy and Natural Resources, Alparslan Bayraktar, has said that Ankara has proposed a new draft agreement to Iraq regarding the Iraq-Turkiye Oil Pipeline (ITP). In an interview with Sky News Arabia, Bayraktar noted that while the pipeline has a capacity of 1.5 million barrels per day, it has never […]
By John Lee. The Iraqi Ministry of Oil has confirmed that it is going ahead with the floating terminal project for importing liquefied natural gas (LNG), stressing its importance for securing electricity generation. The Ministry said that the Council of Ministers and the Ministerial Energy Council have approved implementation mechanisms, including inviting six companies to […]
By John Lee. The Kurdistan Regional Government (KRG) Ministry of Natural Resources and the Iraqi Ministry of Oil have agreed on a new mechanism for oil exports from the Kurdistan Region of Iraq. The deal, finalised after joint meetings beginning on 17 July 2025 and site visits to all regional oil fields, was signed on […]
By John Lee. Iraq's Minister of Oil Hayan Abdul Ghani has held talks in Baghdad with Syrian Minister of Energy Mohammad Bashir, focusing on cooperation in oil, gas, and energy. Discussions covered Iraq's plans to diversify crude oil export routes amid rising production, including rehabilitating or replacing the Iraq-Syria export pipeline, which was active in […]
