Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. President Dr. Abdul Latif Jamal Rashid met with Ken West, CEO of Honeywell Energy and Sustainability Solutions, on 21 January 2025 in Davos. Discussions centred on strengthening Iraq's collaboration with Honeywell in the oil and energy industries. The President highlighted Iraq's current stability, investment opportunities, and commitment to improving oil and gas […]
By John Lee. The Council of Ministers has approved amendments to the Nasiriyah Field Expansion Project (100,000 barrels/day) managed by Dhi Qar Oil Company (DQOC). The changes include adopting the EPC (Engineering, Procurement, and Construction) model instead of the EPCF (Engineering, Procurement, Construction and Financing Contract) contract and revising the project's total cost. Funding-related provisions […]
By John Lee. The Iraqi Cabinet has approved a Heads of Agreement (HOA) with US-based Halliburton for the development of the Nahr Bin Omar [Nahr Bin Umar, Nahr Ben Umar] and Sindbad oil fields in Basra. According to a statement from the Media Office of the Prime Minister, the project will employ Integrated Field Management […]
By John Lee. Iraq's Midland [Middle] Oil Company (MdOC) has reportedly announced the discovery of a significant oil reserve in the East Baghdad field. The discovery was made in collaboration with EBS Petroleum, a body registered in Iraq to conduct petroleum operations on behalf of China's ZhenHua Oil, According to state-run Iraqi News Agency (INA), […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Preface and Introduction of Iraq Petroleum Sector Chronicle - Predicaments Continue, Development Derailed My seventh book, the sixth in the series of volumes of my main research and publishing project on the […]
By John Lee. The state-owned Iraqi Drilling Company (IDC) has signed a contract with Angola's Sonangol to drill 10 developmental wells and 3 optional appraisal wells in the Qayara [Qayyarah] oil field, part of the North Oil Company (NOC)'s fields. T he project will be executed on a turnkey basis in collaboration with Baghdad-based Arab […]
From the Iraq Britain Business Council (IBBC): As part of the official visit of Prime Minister Mohammed Shia Al Sudani to the United Kingdom the IBBC was delighted to host a business reception in honour of the Prime Minister and his delegation. The reception took place on 15th January, at the home of the Institute […]
By John Lee. Representatives of four Irish companies met with Prime Minister Mohammed S. Al-Sudani as part of his official visit to the United Kingdom. The meeting included discussions with the directors of major companies specialising in cybersecurity and data centers, construction and development, export of livestock and meat, and the energy sector. The company […]
By John Lee. A ceremony in London marked the signing of several Memorandums of Understanding (MoUs) between Iraqi public and private sector entities and British companies and institutions. The event was attended by senior Iraqi officials, including Deputy Prime Ministers, the Minister of Foreign Affairs, and the Minister of Oil. Key agreements included: A Memorandum […]
By John Lee. During his official visit to London, Prime Minister Mohammed S. Al-Sudani met with Wael Sawan, CEO of Shell, to explore opportunities for expanding cooperation between Iraq and the energy giant. The discussions emphasized Iraq's focus on advancing its oil, gas, and petrochemical sectors, aligned with the government's recent announcement of new investment […]
By John Lee. A memorandum of understanding (MoU) was signed in London to explore the comprehensive redevelopment of four oil fields in Kirkuk. The agreement was formalised by Amer Khalil Ahmed, Director General of the North Oil Company (NOC), and Zaid Al-Yasiri, BP's Iraq Branch Manager, in the presence of Deputy Prime Minister and Minister […]
By John Lee. Prime Ministers Keir Starmer and Mohammed S. Al-Sudani have unveiled an ambitious £12.3 billion [$15 billion] UK-Iraq trade and investment package aimed at enhancing prosperity and bilateral economic ties. The agreement represents over a tenfold increase in trade compared to last year and underscores both nations' commitment to strategic collaboration across key […]
