By John Lee. The Iraqi Cabinet has authorised the Ministry of Oil to sign a non-binding Memorandum of Principles with US oil company Chevron. According to a statement from the Prime Minister's office, the agreement would facilitate negotiations on: The Nasiriyah Block Project, which includes four exploratory blocks (A, B, C, D); The development of […]
By John Lee. Prime Minister Mohammed Shia Al-Sudani received a delegation from U.S. oil services firm Morgan Hughes, led by the company's Vice President Gregory Bloom, in a meeting held on Tuesday and attended by Steven Fagin, Chargé d'Affaires at the U.S. Embassy in Baghdad. The talks focused on potential cooperation and investment opportunities, including […]
By John Lee. The Iraqi Cabinet has approved an exception for US-based HKN Energy, allowing it to bypass the standard qualification criteria and receive a direct invitation to develop the Hamrin oil field in northern Iraq. Last week, the Ministry of Oil signed an agreement in principle with HKN to develop the field, aiming to […]
By John Lee. The Ministry of Oil has signed a contract with US-based Schlumberger (SLB) to increase natural gas production at the Akkas gas field in Anbar province. Speaking at the signing ceremony, Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayan Abdul Ghani, described the project as a major milestone in Iraq's […]
By John Lee. The Government of Turkiye has officially announced the termination of the long-standing Iraq-Turkey Crude Oil Pipeline Agreements, effective 27 July 2026, by Cabinet Decision No. 10113. The termination applies to the following agreements and related documents: The Crude Oil Pipeline Agreement dated 27 August 1973, approved by Cabinet Decision No. 7/9843 of […]
By John Lee. The Central Bank of Iraq (CBI) has re-issued General Tender No. (2025/1) for the second time, inviting bids for the supply, installation, and operation of 68 currency counting and sorting machines for its branches in Basra (35 machines) and Mosul (33 machines). The tender covers both Iraqi and foreign currencies (USD and […]
By John Lee. KBR has announced the renewal of its engineering, procurement, and construction management (EPCM) contract with Basra Oil Company (BOC) for the Majnoon oil field in Iraq, extending the agreement for another two years. Under the contract, KBR will continue delivering EPCM services to support production targets, enhance operational efficiency, improve safety, and […]
By John Lee. Prime Minister Mohammed Shia Al-Sudani officially opened the new Ramada Plaza tourist hotel in Mosul on Wednesday, marking a key investment by the private sector in Nineveh province. Located on the western bank of the Tigris River, the Ramada Plaza hotel features 148 rooms and suites, a variety of restaurants, four modern […]
By John Lee. The Iraqi Cabinet, headed by Prime Minister Mohammed Shia Al-Sudani, held an emergency session on Thursday and issued a series of binding decisions regarding oil production and financial coordination with the Kurdistan Regional Government (KRG). In a major development, the Cabinet approved the immediate transfer of all oil produced in the Kurdistan […]
By John Lee. The US State Department has announced the end of Ordered Departure Status for personnel at the U.S. Embassy in Baghdad and U.S. Consulate General in Erbil, effective July 17, 2025. Department Spokesperson Tammy Bruce (pictured) stated that personnel who had been temporarily relocated outside Iraq will begin a phased return to their […]
By John Lee. Prime Minister Mohammed Shia Al-Sudani has inaugurated the construction of the Qayara [Qayyarah] Combined-Cycle Power Station, which will add 375 megawatts (MW) of capacity and raise the station's total output to 1,125 MW. The Prime Minister highlighted the importance of combined-cycle systems in improving electricity generation efficiency. He said the government's strategy […]
By John Lee. In a follow-up to last week's report on the state of the Iraqi economy, the International Monetary Fund (IMF) has issued a more comprehensive 64-page report on its findings. The full document package includes: A Press Release. The Staff Report prepared by a staff team of the IMF for the Executive Board's […]
