The latest news on Iraq Oil Production – oil companies, oil output and more – brought to you by Iraq Business News
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq braces for escalation amid fears of fallout from Iran-Israel-US war The continued region-wide confrontation has put Iraq on a knife's edge, driving fears that the country could be dragged further into the […]
By John Lee. In a statement to the markets this morning, Norway's DNO, which operates the Tawke license in the Kurdistan region of Iraq, has said it, "aims to access export markets or export prices later in the year." Some are interpreting this as meaning that DNO is considering joining the agreement that re-started the […]
By John Lee. Energy Intelligence reports that Iraq's state-owned Basra Oil Company (BOC) has subcontracted management of the West Qurna-2 oil field to a consortium of Italian engineering firm Bonatti and local firm Hilal al-Basra [Crescent Basra]. West Qurna-2, operated by Lukoil under a service contract, is fully state-owned. Following recent US sanctions on Lukoil […]
By John Lee. Russia's Lukoil has signed an agreement with US investment company Carlyle for the sale of LUKOIL International GmbH, a wholly owned subsidiary that holds the its international assets. The agreement is non-exclusive and subject to regulatory approval, including permission from the US Department of the Treasury's Office of Foreign Assets Control (OFAC). Lukoil […]
By John Lee. Genel Energy has issued a trading and operations update in advance of the company's full-year 2025 results, which are scheduled for release on 18 March 2026. Regarding the company's operations in Iraqi Kurdistan, it said: Production performance improved in the fourth quarter, supported by workovers and well interventions. Average production in unaffected […]
By Simon Watkins for OilPrice.com. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Is Iraq About to Make Its Biggest Geopolitical Pivot in Years? Washington's escalation of sanctions on Russia's top oil firms has opened space for Western majors to re-enter Iraq. Click here […]
By John Lee. The Iraqi Embassy in Moscow has issued a clarification regarding reports that Iraq plans to nationalise the West Qurna-2 oil field, operated by Russia's Lukoil. The embassy confirmed that the field is fully state-owned. Under the 2008 licensing round agreement, Lukoil managed and developed the field and produced oil under a service […]
By John Lee. Rudaw has quoted the Director General of Iraq's State Oil Marketing Organisation (SOMO), Ali Nizar al-Shatri [Shatari], as saying that the Ministry of Oil has signed a contract with British consulting firm Wood Mackenzie to calculate the actual production costs at oil fields in the Kurdistan Region. Iraq Business News has approached […]
By John Lee. Iraq participated via video link in a meeting of OPEC+ countries to review global oil market conditions and the production outlook, as the group confirmed it will maintain its current production policy during early 2026. Full statement from OPEC: Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman reaffirm commitment to […]
By Ahmed Tabaqchali, for the Institute of Regional and International Studies (IRIS) at the American University of Iraq, Sulaimani (AUIS). The opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. Iraq's Gas Flaring Paradoxes: Economic and Technical Obstacles Almost every year, since 2012, Iraq vies with […]
By John Lee. Norway's DNO ASA has announced a major scaling-up of operations in the Kurdistan Region after surpassing 500 million barrels of cumulative oil production from the Tawke licence, where it holds a 75 percent operating stake. Drilling will resume next week after a 2.5-year spending pause, beginning with a new production well in the […]
By John Lee. The Office of the Commander-in-Chief of the Armed Forces has confirmed the results of the investigation into the 26 November drone attack on the Khor Mor gas field in Sulaymaniyah. Chaired by the Minister of Interior and involving federal and Kurdistan Region security agencies, the committee reported that the attack was conducted […]
