Free Trial

Iraqi oil field on fire after drone strike during attacks in Kurdish region

Key Points

  • A drone strike hit the Sarang oil field in Dohuk province, setting the facility ablaze; all personnel were unharmed but operations have been suspended pending investigation.
  • This attack is the latest in a series of strikes on oil facilities in the semi-autonomous Kurdish region, heightening tensions between Baghdad and Erbil.
  • The Kurdish Ministry of Natural Resources and the U.S. embassy in Baghdad condemned the strikes, urging Iraqi authorities to prevent further attacks and hold perpetrators accountable.
  • The incident coincided with Iraq signing a preliminary investment agreement with HKN Energy for another oil field, underscoring security risks for foreign investors.
  • Five stocks we like better than Popular.

BAGHDAD (AP) — An oil field in Iraq 's Dohuk province was set ablaze Tuesday after being struck by a drone.

It is the latest in a series of similar attacks launched recently against oil facilities in northern Iraq's semi-autonomous Kurdish region. No group has claimed responsibility for the attack.

The attack came the same day Iraq signed an agreement with the oil field's operator, U.S.-based HKN Energy Ltd., for investment in a field at another location.

HKN Energy confirmed in a statement that “an explosion occurred” Tuesday morning at one of its production facilities in the Sarang field in Dohuk province.

“All personnel have been safely accounted for, and no injuries have been reported,” it said. “However, the facility remains on fire, and emergency response teams are actively working to contain the situation.”

It said the cause of the explosion was under investigation and that operations were suspended.

The recent attacks have heightened tensions between the central government in Baghdad and regional Kurdish authorities. The strikes have caused material damage but no casualties.

The Kurdish region's Ministry of Natural Resources said in a statement that Tuesday's explosion was caused by a drone strike and that it came after an attack on the Khurmala oil field, in Irbil province, on Monday.

The ministry said it "strongly condemns and denounces these acts of terrorism against the Kurdistan Region’s vital economic infrastructure.”

The Kurdish regional government urged the federal government to “take all urgent and necessary measures to prevent the repetition of such attacks, identify the parties responsible, and hold them accountable.”

The U.S. embassy in Baghdad also issued a statement condemning the recent attacks.

“The Government of Iraq must exercise its authority to prevent armed actors from launching these attacks against sites within its own territory, including locations where Iraqi and international companies have invested in Iraq’s future,” it said.

Iraq's Prime Minister Mohammad Shia al-Sudani met with the vice president of HKN Energy on Tuesday during the signing of a preliminary agreement for investment in the Hamrin oil field, in Salahuddin province.

Earlier this month, the Kurdish regional government accused the Popular Mobilization Forces — a coalition of Iran-allied militias that are officially under the control of the Iraqi military — of carrying out drone attacks.

The Iraqi army said the accusation was “issued in the absence of evidence” and said it could “provide hostile parties with justifications to undermine Iraq’s stability.”

Iran-backed armed groups have periodically attacked U.S. bases in Iraq and Syria. During last month's Israel-Iran war some of them threatened to target U.S. interests and bases in the region if Washington got involved.

Should You Invest $1,000 in Popular Right Now?

Before you consider Popular, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Popular wasn't on the list.

While Popular currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Metaverse Stocks And Why You Can't Ignore Them Cover

Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

Watch Before Monday: Stocks to Load Up on Before Earnings
3 Hot Growth Stocks to Watch Right Now!
Don’t Miss These Top 3 Defense Stocks Set To Gain

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines