The latest news on Iraq Oil Production – oil companies, oil output and more – brought to you by Iraq Business News
By John Lee. Iraq has set a target of raising oil production to around 10 million barrels per day (bpd) by 2030, under a strategic plan covering the period 2027-2030. According to the Prime Minister's Office (PMO), Prime Minister Ali al-Zaidi chaired a meeting at the Ministry of Oil attended by the ministers of finance […]
By John Lee. Iraqi Prime Minister Ali al-Zaidi has announced plans to distribute one million residential land plots to citizens, with the last plot to be allocated within three years. He made the comments on Friday during a session at the eighth Baghdad Dialogue Conference, organised by the Iraqi Institute for Dialogue. According to the […]
By John Lee. Dana Gas has reported a net profit of AED 393 million ($107 million) for H1 2026, a 47% year-on-year increase. Regarding operation in the Kurdistan Region of Iraq (KRI), the company said: "Khor Mor began the year at record production levels, with output exceeding 700 MMscf/d and Group production reaching 70 kboepd. […]
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. 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 John Lee. Gulf Keystone Petroleum (GKP) has announced that production operations at its Shaikan oil field in the Kurdistan Region of Iraq have been temporarily shut in as a safety precaution, citing the developing regional security environment. The company said its assets have not been impacted and that the latest gross production figure was […]
By John Lee. Iraq's prime minister has pledged to pursue corruption cases without exception, seek a fairer OPEC production quota, and announce a political and economic partnership with the United States, in a wide-ranging interview broadcast on Al Arabiya. Ali al-Zaidi told Al Arabiya that anti-corruption efforts would be pursued without regard to sectarian, ethnic, […]
By John Lee. Basra Oil Company (BOC) has signed a five-year contract with US firm Halliburton for the integrated management of the Nahr Bin Umar oil field and Sindbad field. The signing took place under the auspices of Minister of Oil Basim Muhammad Khudhair al-Abadi, in line with government plans and directives from Prime Minister […]
By John Lee. Seven OPEC+ countries, including Iraq, have agreed to a production adjustment of 188,000 barrels per day (bpd) from the additional voluntary adjustments announced in April 2023, to be implemented in August 2026. The countries, Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman, met virtually on 5 July 2026 to review global […]
By Michael Kern, for OilPrice.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Baghdad Hosting EU Energy Talks After Iraq Floats OPEC Exit European officials are expected to visit Baghdad in the coming weeks for high-level talks on energy cooperation, just hours after Iraq […]
By John Lee. Iraq's Ministry of Oil has clarified that reports suggesting the country threatened to withdraw from OPEC do not reflect the official position of the Iraqi government. According to the ministry, neither the prime minister nor the government has raised the issue of withdrawal. The ministry said Iraq has consistently called for a […]
By John Lee. The Ministry of Oil held a meeting with international oil companies operating in Iraq to discuss challenges facing projects, increasing production, and improving operational performance. According to the Ministry, Minister of Oil Bassem Mohammed Khudair Al-Abadi said companies working in Iraq are considered partners rather than contractors, and called for cooperation to […]
