By Noam Raydan and Soner Cagaptay, 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 Renewed Oil Flows from the ITP Could Benefit U.S.-Iraq-Turkey Relations The potential economic and strategic benefits of reopening the northern Iraqi […]
By John Lee. The industry group representing international oil companies (IOCs) in Iraqi Kurdistan has clarified the payment mechanism for oil exported through the Iraq-Turkiye pipeline (ITP). In a statement on X on Wednesday evening, the Association of the Petroleum Industry of Kurdistan (APIKUR) said: "Info: The payment mechanism for oil exported through the Iraq-Türkiye […]
By John Lee. Oil exports from Iraq's Kurdistan Region are set to resume through the Iraq-Turkey Pipeline (ITP) following agreements between Baghdad's Federal Government, the Kurdistan Regional Government (KRG), and international oil companies, ending the prolonged export suspension. DNO ASA will deliver the Kurdistan Regional Government's share of production from its Tawke license, currently averaging […]
By John Lee. Genel Energy and DNO have issued statements relating to recent media reports of an agreement on the export of oil from Iraqi Kurdistan via the Iraq-Turkey Pipeline to the port of Ceyhan. DNO, the largest operator in the Kurdistan Region, said it is eager to resume exports but "pursuant to agreements that […]
By John Lee. Norway's DNO ASA has reported net production of 56,100 barrels of oil equivalent per day (boepd) from the Kurdistan Region of Iraq (KRI) in the second quarter of 2025, out of a company total of 92,600 boepd. Gross production was ramped up on a test basis to 55,000 boepd, split roughly evenly […]
By John Lee. DNO, the operator of the Tawke field in Iraqi Kurdistan, reported three explosions this morning (Wednesday). In a statement, the company said: "DNO ASA, the Norwegian oil and gas operator, reports that operations at its Tawke license in the Kurdistan region of Iraq have been temporarily suspended following three explosions early this […]
By John Lee. Norway's DNO has reported increased oil production at its operations in Iraqi Kurdistan: Kurdistan Production: In Q1 2025, DNO's net production in Kurdistan was 61,600 barrels of oil equivalent per day (boepd), an 11% increase quarter-on-quarter. Operational Measures: Despite the closure of the Iraq-Türkiye export pipeline (ITP), production from the Tawke licence […]
By John Lee. Genel Energy has issued a trading and operations update relating to Q1 2025. Regarding the company's operations in Iraqi Kurdistan, it said: Kurdistan Region of Iraq Operations Gross production of 82,081 bopd in Q1 2025 (increased from 74,140 bopd in Q4 2024) from the Tawke license Working interest production of 20,520 bopd […]
By John Lee. DNO ASA, the Norwegian oil and gas operator, has provided an update on production, sales volumes and other selected information for the quarter. Regarding its operations in Iraqi Kurdistan, the company said: "DNO's share of crude oil from the Tawke license during the quarter has been sold to local buyers as the […]
Genel Energy has announced its audited results for the year ended 31 December 2024. Paul Weir, Chief Executive of Genel, said: "In 2024, we demonstrated further progress on our journey of building towards delivering resilient, diversified cash flows. Our shift from cash outflow in 2023 to cash generation in 2024 has been important, and in […]
By John Lee. DNO ASA, the Norwegian oil and gas operator, today reported 2024 revenues of USD 667 million on the back of what it described as "stellar production" in the Kurdistan region of Iraq. According to a company statement this morning: "Net production climbed 50 percent year-on-year to 77,300 barrels of oil equivalent per […]
Genel Energy issued the following trading and operations update in advance of the Company's full-year 2024 results, which are scheduled for release on 18 March 2025. The information contained herein has not been audited and may be subject to further review. Paul Weir, Chief Executive of Genel, said: "We start 2025 with a business that […]
