Bioremediation has emerged as an effective strategy for treating soil pollution, leveraging the capacity of microorganisms to degrade and eliminate pollutants. The soil fungal diversity in agricultural and oil areas in Basrah Province, Iraq, was studied to identify the fungal species and to examine their ability to accumulate heavy metals. From different lubricant and farming areas, eighteen soil samples were collected. The genus Aspergillus represented the highest occurrence percentage (100%) of all the vine fungal genera isolated during this study, the other genera showed 11–89% of occurrence. Sterile mycelia of seventeen fungal species were also isolated in this study. The ability of fungal species to accumulate three heavy metals namely copper, cadmium and cobalt were studied. Copper had the most potent effect on fungal growth, whereas cobalt revealed the least influence and cadmium had moderate effect on them. Aspergillus niger revealed the highest percentage of accumulation, whereas the other fungal species revealed different capabilities to accumulate heavy metals.