Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. The U.S. Embassy in Baghdad has announced that KBR has signed a memorandum of understanding with the local government in Basra aimed at drawing on American expertise to develop infrastructure and support economic growth in the province. (Source: U.S. Embassy Baghdad)
By John Lee. UAE-based oilfield services company Lamprell has established a new office in Basra, expanding its presence in Iraq. According to a statement from the company, the move follows a series of engagements with clients and stakeholders in the country over the past year, and reflects the company's long-term commitment to supporting Iraq's energy […]
By John Lee. Iraq's Foreign Minister, Fuad Hussein, met on Monday with Syrian President Ahmad Al-Sharaa at the People's Palace in Damascus. Syrian Foreign Minister Asaad Hassan Al-Shaibani was also present. According to the Iraqi Ministry of Foreign Affairs, the talks covered bilateral relations and avenues for expanding joint cooperation across various fields. The two […]
By John Lee. Iraq's Council of Ministers has approved two oil sector contract awards put forward by the Ministry of Oil. Basra Oil Company (BOC) has been authorised to award contracts for integrated field management and engineering, procurement and construction (EPC) management to Halliburton, under terms of five years with an optional three-year extension, with […]
By Dr. Ali al-Rawi, for the Al-Bayan Center for Planning and Studies. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Urgent Monetary and Fiscal Reforms Amid Iraq's Oil Export Crisis and the Inflation of Operational Expenditures Iraq is going through an economic phase that […]
By Michael Kern, for OilPrice.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Baghdad Hosting EU Energy Talks After Iraq Floats OPEC Exit European officials are expected to visit Baghdad in the coming weeks for high-level talks on energy cooperation, just hours after Iraq […]
By John Lee. Iraq's Ministry of Oil has clarified that reports suggesting the country threatened to withdraw from OPEC do not reflect the official position of the Iraqi government. According to the ministry, neither the prime minister nor the government has raised the issue of withdrawal. The ministry said Iraq has consistently called for a […]
By John Crowley, for Arabian Gulf Business Insight (AGBI). Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iran's Hormuz Insurance Scheme 'Amounts to Transit Fee' Iran's plans to require vessels crossing the Strait of Hormuz to obtain insurance amount to a transit fee, […]
By John Lee. According to Iraq's Ministry of Oil, drilling has begun on a new exploration well in the Amerli district of Salahadin province - the first such well to be drilled in the northern governorates since 1978. The work is being carried out under a tripartite contract involving North Oil Company (NOC), Iraqi Drilling […]
By John Lee. Shares in Gulf Keystone Petroleum (LSE: GKP) closed up more than 2 percent on Friday after the company published an operational and corporate update. Full statement from GKP: 2026 AGM Operational & Corporate Update Ahead of today's 2026 Annual General Meeting ("AGM"), Gulf Keystone, a leading independent operator and producer in the Kurdistan […]
By John Lee. Irish-based Petrel Resources Plc (LON: PET) has published its preliminary results for the year ended 31 December 2025. Regarding prospects in Iraq, the company said: "In Iraq, discussions continued regarding several potential development and gas monetisation opportunities. Iraq remains one of the world's most resource-rich hydrocarbon provinces and continues to offer significant long-term […]
From Rudaw. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq forms committee to renew Kirkuk-Ceyhan oil pipeline agreement Iraq has established a high-level committee to prepare a new draft agreement on the Kirkuk-Ceyhan oil pipeline as the current deal expires in July. Salim […]
