By John Lee. Gulf Keystone Petroleum (GKP) has issued its Annual Report and Accounts for 2024. Click here to download the full report. To browse our comprehensive library of reports on Iraq, click here. (Source: GKP)
GKP Annual Report 2024
Archive | Iraq Oil & Gas News
Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
GKP outlines Payments to Govts for 2024
By John Lee. Gulf Keystone Petroleum (GKP) has published details of its payments to governments for the year 2024: Introduction This report sets out details of the payments made to governments by Gulf Keystone Petroleum Ltd and its subsidiary undertakings ('Gulf Keystone') for the year ended 31 December 2024 as required under Disclosure and Transparency […]
Chinese Firm Wins Major Contract at West Qurna-1
By John Lee. The China Huanqiu Contracting & Engineering Company (HQC), a subsidiary of the China National Petroleum Corporation (CNPC), has reportedly signed a Project Management Consultancy (PMC) contract for the West Qurna-1 oilfield. According to sina.com.cn, this is CNPC's largest overseas service contract since 2020. In January 2024, PetroChina, also a subsidiary of CNPC, […]
Tags: Basra Oil Company (BOC), cg, China, China HuanQiu Contracting & Engineering Corporation (HQC), China National Petroleum Corporation (CNPC), ExxonMobil, featured, Pertamina
Rebalancing IOCs Positioning in Iraq's Upstream Petroleum Sector
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Rebalancing IOCs Positioning in the Upstream Petroleum Sector in Iraq The Ministry of Oil (MoO) recently concluded an agreement with BP covering four main oilfields in Kirkuk, following an earlier contract with […]
Tags: Ahmed Mousa Jiyad, Akkas, BP, featured, Kirkuk Oilfields, oil contracts, production sharing agreements, QatarEnergy, TotalEnergies
Video: Iraq's Economy between US, Iran: Perceptions & Realities
By John Lee. The London School of Economics (LSE)'s Middle East Centre has hosted a talk by Ahmed Tabaqchali, exploring the economic and financial interactions of the Iraqi economy with the outside world, particularly the use of the dollar in relation to Iran and the US. While the US' Iraq policy is still fluid, there […]
Tags: Ahmed Tabaqchali, China, currency, dedollarization, dinar, Dollar, Dollar Sales, Donald Trump, electricity imports, forex, gas imports, IQD, Iran, London School of Economics (LSE), sanctions, Toby Dodge, United States
Maysan Refinery Expansion: Iraq's Capacity to Reach 1.54m bpd
By John Lee. Prime Minister Mohammed S. Al-Sudani has announced that Iraq's refining capacity will soon reach 1,542,000 barrels per day (bpd) following the expansion of key refineries. During a visit to Maysan province, the Prime Minister inaugurated the Maysan [Missan] Refinery Development Project, which will increase its capacity from 40,000 to 110,000 bpd. He […]
Tags: Baiji, cg, featured, Maysan, Missan refinery, Mohammed Shia Al-Sudani, Petrochemicals, Refineries, refining
Iraqi Oil Tanker in Collision at Umm Qasr Port
By John Lee. The Iraqi Oil Tanker Company (IOTC) has confirmed that the oil tanker 'Akkad' was involved in a collision at Berth 9 in Umm Qasr Port on 29th March 2025, with no reported injuries. Following the incident, Minister of Oil Hayan Abdul Ghani directed the formation of a technical investigation committee to determine […]
Tags: cg, featured, International Maritime Organization (IMO), Iraqi Oil Tankers Company (IOTC), tankers, Umm Qasr
Iraq's Energy Plans: Turkey to Double Electricity Supply ...
By John Lee. Iraq's Minister of Electricity, Eng. Ziyad Ali Fadel, has addressed key energy issues in interviews with Al Arabiya and Al Hadath, outlining government efforts to secure power supply and mitigate potential summer shortages. Key points include: The halt of exemptions has affected 800 MW of electricity imports from Iran, impacting Diyala, Maysan, […]
Tags: Albilal Group, cg, China, Electricity In Iraq, featured, GE, GE Vernova, germany, Iran, Kuwait, LNG, PetroChina, Siemens, TotalEnergies, Turkey, Turkmenistan, United States
Iraq Expands Auto Gas Fueling Network
By John Lee. As part of the government's national program, Iraq's Ministry of Oil has announced the opening of four new liquefied gas (LPG) fueling stations along the international highway connecting Baghdad to the southern provinces. The initiative is led by the General Company for Gas Filling and Services, aiming to expand gas-powered vehicle infrastructure […]
Iraq announces Oil Exports for February
By John Lee. Iraq's Ministry of Oil has announced finalised oil export volumes for February, but has again not disclosed the value of oil exports for the month. This continues the practice of delayed or missing oil export data from the Ministry. Total exports of crude oil: 95,148,167 barrels. Exports from the oil fields in […]
APIKUR Rejects Iraq's Terms for Oil Exports
By John Lee. The Association of the Petroleum Industry of Kurdistan (APIKUR) has said its member companies will not resume crude oil exports via the Iraqi-Türkiye Pipeline (ITP) until the Government of Iraq (GOI) guarantees contract sanctity and payment for past and future exports. Full statement from APIKUR: Designated International Oil Companies (IOCs), along with […]
Tags: Association of the Petroleum Industry of Kurdistan (APIKUR), Ceyhan, cg, featured, Genel Energy, GKP, Gulf Keystone Petroleum, Iraq Oil Exports News, Iraq Oil Production News, Iraq-Turkey Pipeline (ITP), KRG, Kurdistan News, Ministry of Oil, oil contracts, oil revenues, OPEC, State Oil Marketing Organization (SOMO), Turkiye
Iraq scores "Fairly Low" in Oil Business Transparency
From the Extractive Industries Transparency Initiative (EITI). Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq scores 55.5 points in EITI implementation The EITI Board concluded that Iraq has achieved a score of 55.5 points (fairly low) in EITI implementation. The country has shown […]