Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. State-run Iraqi News Agency (INA) has reported that the management of the West Qurna 1 oil field in northern Basra has announced a plan to increase the capacity of the seventh isolation station to 320,000 barrels per day (bpd) by 2025. The isolation station began production in 1998 at a rate of […]
By John Lee. The Iraqi Drilling Company (IDC) has successfully completed the drilling of the EBSH-54 oil well at the East Baghdad field. The well was drilled to a depth of 3,636 meters, as part of a contract with EBS Petroleum to drill 27 oil wells at the field in collaboration with China Oilfield Services […]
By Julianne Geiger for the OilPrice.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Oil Tensions Mount As Iraq Contradicts Turkey's Export Claims While Turkey said on Monday that Iraqi oil exports would resume this week through a stalled oil pipeline, Iraq is saying […]
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 […]
