Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. The industry group representing international oil companies (IOCs) in Iraqi Kurdistan has said that its member companies won't be able to produce oil for pipeline exports until there is clarity on how IOCs will be paid for past and future oil sales, as they are currently owed nearly $1 billion in unpaid […]
By John Lee. Turkey's Energy Minister has said that the Iraq-Turkey pipeline (ITP), which has been out of operation since a court ruling in March, will be re-started this week. Alparslan Bayraktar confirmed on X (formerly Twitter) on Monday: "The oil pipeline, which was damaged in the devastating earthquake in February and the subsequent flood, […]
By John Lee. Iraq's Ministry of Oil has announced preliminary oil exports for September: Total exports of crude oil: 103,143,199 barrels. Revenues from crude oil exports: $9.494 billion, the highest since August 2022. Oil fields in central and southern Iraq accounted for 102,220,441 barrels of crude oil exports. Exports from Kirkuk through the port of […]
By John Lee. State-run Iraqi News Agency (INA) has reported the opening of the processing plant for associated gas at the Halfaya oilfield. It was opened on Friday by the Governor of Maysan, Ali Douai Lazem. The facility has a capacity of 300 million standered cubic feet [per day?], which will be used to power […]
By Bilal Wahab for the Washington Institute for Near East Policy. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. How to Stop Iraqi Kurdistan's "Bleeding" Federal pressure and disastrous internal missteps have brought the KRG to the brink, raising the need for more active […]
By John Lee. Iraq's Basra Gas Company (BGC) has exported a record shipment of 25,000 tons of condensates, the largest shipment ever exported by the company. Andrew Weir, CEO of BGC, said the shipment was a "major achievement that will boost export rates and enhance Iraq's financial revenues." "Iraq has the potential to be a […]
By John Lee. In its 39th regular session, chaired by Prime Minister Mohammed Shia Al-Sudani, the Iraqi Cabinet made important decisions concerning the oil sector and infrastructure development for exports: The Ministry of Finance will allocate the total cost of IQD 1,265,444,000,000 [$967 million] for the construction of offshore pipelines (4 and 5) and a […]
By John Lee. Iraq's Oil Minister, Hayan Abdul Ghani, has participated in the inauguration of the new oil tanker "Sumer" at Khor al-Zubair port in Basra. Abdul Ghani stressed the ministry's keenness to build a new oil tanker fleet through contracts with reputable international companies to build modern tankers of different capacities. The "Sumer" tanker […]
By Mustafa Saadoun for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Al-Monitor/Semafor summit: Iraq's Sudani says 'solution is in Baghdad' to issues with KRG The prime minister also pleaded for more US investment in Iraq's energy sector amid the oil […]
By Bekir Aydoğan for the Washington Institute for Near East Policy. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Ethnic Tension in Kirkuk Signals Fractures in Ankara-Erbil Relations Longstanding tensions in the multi-ethnic city of Kirkuk in Iraq may once again spark confrontations between […]
By John Lee. Iraq's state-run Iraqi News Agency (INA) has quoted the Undersecretary of Extraction at the Ministry of Oil, Bassem Muhammad Khudair, as saying that the contract to develop the Akkas gas field will be granted in the coming days to a Ukrainian company. He did not name the company. Meanwhile, a official statement […]
By John Lee. The Iraqi Ministry of Oil has announced the increase in production capacity at the Karbala refinery to 140,000 barrels per day (bpd), following the activation of several production units. Mr. Hamed Younis, the Deputy Minister for Refining Affairs, said that the Ministry is committed to implementing the directives of the Deputy Prime […]
