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Kurdistan Oil Production Slumps Amid Ongoing Conflict

Guavy AI Editorial Team
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Oil
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ShaMaran Petroleum Ltd. released its financial and operating results for the second quarter of 2026, revealing the impact of the ongoing Iran war on oil production in the Kurdistan Region of Iraq (KRI).

The company's average daily oil production at its Atrush block was 1.2 million barrels per day, down from 35.1 million in Q2 2025, while Sarsang averaged 0.7 million barrels per day compared to 28.7 million in the same period last year.

The company's revenue for Q2 2026 was $17.8 million, a 50% decrease from $35.4 million in Q2 2025 due to production shut-ins and lower oil prices.

ShaMaran CEO Garrett Soden noted that the formation of the new Iraqi government and Prime Minister Ali al-Zaidi's commitment to resolve regional security issues is a positive development for the region.

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