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Energy

Iraq terminates Akkas contract, drawing legal threats

Cabinet taps state-run Midland Oil Company as operator for fast-track gas field development with help from SLB, but contentious ouster of Ukrzemresurs could spark litigation.
Personnel from the Ukrainian company Ukrzemresurs pose in front of the Akk-1 well at the Akkas gas field after completing emergency maintenance work in the first quarter of 2025. (Photo credit: Ukrzemresurs)

New life for Iraq’s southern oil export expansion

A $417M subsea pipeline project that was funded and then suspended over the past two months has gotten Cabinet approval again, with a half million barrel per day capacity increase slated for next year.