The Iraqi Ministry of Oil is preparing to organize the first edition of the Iraq Petroleum Industry Workshop (IPIW 2025), in collaboration with the Society of Petroleum Engineers (SPE International)—Central Iraq Section.

The Ministry of Oil welcomes and consistently seeks to collaborate with American companies in the development of oil and gas fields through direct relationships and contracts, in accordance with the Iraqi Constitution and the decisions of the Federal Court in this regard.It should be emphasized that the Ministry of Oil continues to maintain active contractual relationships with American companies across various sectors of the oil industry, including well drilling, associated oilfield services, and advisory and consultancy engagements, and the Ministry has no objection or reservation regarding engagement with these companies, provided that such engagement is not conducted directly with the Kurdistan Regional Government in isolation from the Federal Government and its official channels, as this would constitute a violation of the Iraqi Constitution and the applicable laws.

The Iraqi Ministry of Oil affirms its full commitment to the OPEC+ agreement, the agreed additional voluntary adjustments, and compensating for the accumulated volumes. The ministry will take the necessary measures to ensure the implementation of these agreements, including submitting an updated plan to compensate for the overproduced quantities during the previous period. This was stated during a joint telephone call between His Excellency the Deputy Prime Minister for Energy Affairs, Mr. Hayyan Abdul Ghani Abdul Zuhra; His Royal Highness Prince Abdul Aziz bin Salman Al Saud, Minister of Energy in the Kingdom of Saudi Arabia; His Excellency Alexander Novak, Deputy Prime Minister of the Russian Federation; and His Excellency Haitham Al-Ghais, Secretary-General of OPEC. According to data from secondary sources approved by OPEC, Iraq’s crude oil production in January 2025 reached 3.999 million barrels per day, a positive indicator reflecting Iraq’s commitment to the designated production levels. The Iraqi Ministry of Oil will continue its efforts to compensate for the accumulated overproduction, taking into account the recent developments expected with the Federal Government receiving the oil produced in the Kurdistan Region and resuming exports via the Iraqi-Turkish pipeline, while adhering to Iraq’s allocated share under the OPEC production agreements and the required compensation volumes. The ministry also emphasizes the pivotal role of these agreements in achieving stability in global oil markets and the importance of the contribution of the member countries of the OPEC+ alliance in supporting this stability.

The Federal Ministry of Oil confirms that it is in the process of completing the procedures for the resumption of crude oil exports produced in the Kurdistan Region through Ceyhan Oil Terminal, in accordance with the provisions outlined in the Federal Budget Law and its amendments, and within Iraq`s Baseline Oil Production set by OPEC. The Ministry calls upon the regional authorities to transfer the produced quantities from the operational fields to the Oil Marketing Company (SOMO) to proceed exports via the Iraq-Türkiye pipeline and Ceyhan oil terminal, in accordance with the contracts signed with the designated companies.

The Iraqi Ministry of Oil announces that all quantities of Iraqi crude oil are exported according to global mechanisms and standards that ensure the highest levels of transparency. The oil is sold to well-known international companies with certified refineries, its destinations are determined, and the sales are conducted on an FOB basis from Iraqi export ports. The ministry firmly denies any claims that Iraq buys or receives Iranian crude oil or re-exports it, confirming that all export operations are strictly regulated.

Aligned with the Republic of Iraq’s dedication to the decisions made by OPEC and its allied nations under the Declaration of Cooperation (DoC) on voluntary oil production adjustments, we confirm that Iraq has lowered its oil production and reduced exports to 3.3 million barrels per day, alongside limiting domestic consumption. This reduction will persist in the coming months to ensure production stays within the agreed limits and to compensate for additional volumes produced in recent months. This initiative seeks to support balance and stability in the global crude oil market.