Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. Genel Energy today reported unaudited results for the period ended 30 June 2026: Full statement from Genel Energy: Unaudited results for the period ended 30 June 2026 Paul Weir, Chief Executive of Genel, said: "We remain firmly focused on delivering our clearly stated strategic objectives and in this period, we have demonstrated […]
By John Lee. An Iraqi delegation has reportedly held talks with Iran on the smooth passage of oil tankers through the Strait of Hormuz, with expectations of reaching an understanding within the coming days. Minister of Oil Basim Muhammad Khudhair al-Abadi told the state-run Iraqi News Agency (INA) that the government's approach is based on […]
By John Lee. Seven OPEC+ member countries have agreed to implement a production adjustment of 188,000 barrels per day (bpd) from their additional voluntary cuts, effective September 2026. The decision was taken at a virtual meeting on Saturday, which was attended by Iraq's Ministry of Oil. The seven countries involved are Saudi Arabia, Russia, Iraq, […]
By Mustafa Saadoon, for Alhurra. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Exclusive: Iran War Has Cost Iraq $45 Billion Official sources said that collapsing oil exports and stalled development projects have inflicted massive losses on the country as Baghdad bets on deeper […]
By John Lee. Iraq has signed an agreement with Turkey for the transport and loading of Iraqi crude oil via the Iraq-Turkey Pipeline (ITP) to the Turkish port of Ceyhan. The agreement was signed under the auspices of Minister of Oil Basim Muhammad Khudhair al-Abadi, with Turkey's Minister of Energy and Natural Resources also in […]
From PUK Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq-Türkiye Oil Pipeline Remains Operational Despite Agreement Expiry Crude oil exports from Kirkuk to Türkiye's Mediterranean port of Ceyhan are expected to continue without disruption, despite the expiry of the bilateral agreement governing […]
By John Lee. Türkiye Petrolleri Anonim Ortaklığı (TPAO) is to acquire a 15% interest in BP Energy Company of Kirkuk Limited (BP ECKL), the vehicle through which BP is supporting the redevelopment of major oil and gas fields in the Kirkuk region of northern Iraq. According to BP, the agreement builds on a strategic cooperation […]
By John Lee. The Iraqi Minister of Oil has been authorised to sign a memoranda of understanding (MoU) with a consortium comprising US-based companies ConocoPhillips, TI Capital and Novaterra Energy. Cabinet approved the agreement, which involves assessing the exploration and development potential at the Akkas gas field (pictured) in western Iraq, and surrounding areas. Earlier […]
By John Lee. Iraqi authorities have seized IQD 27 billion ($20.6 million) in connection with a corruption case involving a detained senior official at the Ministry of Oil. According to the Supreme Judicial Council (SJC), the funds were found hidden with a number of individuals linked to the case. The investigating judge at the Central […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Al-Zaidi' Government on Petroleum Issues and Washington DC Visit The Iraqi Council of Representatives (Parliament) voted on 14th May 2026 to endorse the new government headed by PM Ali Al-Zaidi, and approved […]
By John Lee. Iraq's Council of Ministers has authorised the chief executive of Basra Oil Company (BOC) to sign a memorandum of understanding (MoU) between the Ministry of Oil and Syria's Ministry of Energy. The agreement covers the establishment of a pipeline project to connect Iraqi oil production to global export markets via the Mediterranean. […]
By Umud Shokri, for the Middle East Forum. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. What Does Iraq's $1.47 Billion Arbitration Victory over Turkey Mean for the Future? The Paris Court of Appeal has strengthened Iraq in its long-standing case with Turkey. Turkey […]
