Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. Norwegian oil and gas operator DNO ASA posted record second-quarter revenue of $761 million, up 21 percent quarter-on-quarter, driven by strong North Sea production at high commodity prices, which more than offset the impact of a production shutdown at its Kurdistan operations. Operating profit rose 55 percent to $439 million, while net […]
By John Lee. Iraq's Ministry of Oil is reportedly planning a new pipeline system to transport and export crude oil via two northern routes: Basra-Haditha-Fishkhabur and Haditha-Baniyas. According to the state-run Iraqi News Agency (INA), the project is intended to diversify export routes and reduce dependence on the main southern export terminal. A meeting to […]
By John Lee. Lebanon is preparing to serve as a storage and re-export hub for Iraqi crude oil and petroleum products in the first phase of a planned transit arrangement. Lebanon's Prime Minister Nawaf Salam chaired a meeting on Sunday to review readiness across the relevant ministries and agencies. The meeting addressed logistical and infrastructure […]
By John Lee. Dana Gas has reported a net profit of AED 393 million ($107 million) for H1 2026, a 47% year-on-year increase. Regarding operation in the Kurdistan Region of Iraq (KRI), the company said: "Khor Mor began the year at record production levels, with output exceeding 700 MMscf/d and Group production reaching 70 kboepd. […]
By John Lee. Iraq's first LNG import terminal is expected to commence operations in the second quarter of 2027, according to US-based Excelerate Energy. In its financial results for the second quarter ended June 30, 2026, the Texas-based company said engineering and procurement activities are nearing completion, site clearance and dredging are under way in […]
By Francesca Washtell, 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. Iraq and Kuwait Face Tougher Oil Restart than Gulf Neighbours Repeated shut-ins of older oilfields mean Iraq and Kuwait are likely to face challenging returns to […]
By John Lee. Genel Energy has unanimously rejected an unsolicited takeover proposal from Norway's DNO ASA, saying the offer fundamentally undervalues the company. DNO proposed to acquire all of Genel's issued ordinary share capital at 69 pence per share in cash. The board of Genel, having evaluated the proposal with its advisers, rejected the approach […]
By John Lee. A possible cash offer for Genel Energy plc has been put forward by Norwegian oil and gas operator DNO ASA, valuing the company at approximately £202 million [approx $271 million]. The approach was rejected by the Genel Board on 4 August 2026, but DNO says it remains willing to engage. Under the […]
By John Lee. The Kurdistan Regional Government (KRG) has said that Crescent Petroleum and Dana Gas, the joint operators of the Khor Mor field, commenced gas supplies from the Kurdistan Region to Iraq's Ministry of Electricity without its approval or authorisation, in breach of their contractual obligations. According to the KRG, it was notified on […]
By John Lee. Iraq's Foreign Minister Fuad Hussein held a series of bilateral and trilateral meetings in Amman on Wednesday on the sidelines of the Arab Ministerial Meeting on Jerusalem, covering energy cooperation, joint projects, and regional security issues. According to the Ministry of Foreign Affairs, the talks included separate meetings with the foreign ministers […]
By John Lee. Crescent Petroleum and Dana Gas have begun supplying natural gas from the Khor Mor field to Iraq's Ministry of Electricity, under an agreement signed last December. According to a press release from Dana Gas, 100 million standard cubic feet per day (MMscf/d) will be delivered from the Khor Mor gas processing facility […]
By John Lee. Genel Energy has confirmed that there will be no further legal challenge in its dispute with the Kurdistan Regional Government (KRG) regarding the Bina Bawi field. In April, the company announced that its subsidiary, Genel Energy Miran Bina Bawi Limited (GEMBBL), has been ordered by the London Court of International Arbitration (LCIA) […]
