OPEC-plus dynamics and the ongoing outage of Iraq's northern export pipeline continue to limit Iraqi oil exports, though revenues were steady year-on-year.
Oil companies warn of further production declines as Kurdistan's payment problems discourage investment.
In early talks between Baghdad and Erbil, negotiators have outlined the same points of conflict that have stalled oil legislation since 2007.
Iraq has finally inked deals first awarded in 2018, raising hopes for the Oil Ministry's efforts to prepare a sixth contract licensing round.
After negotiations nearly fell apart two weeks ago, the French firm gave until Feb. 15 to finalize a deal — a deadline now extended by one month.
The Oil Ministry is considering a backup plan of offering the gas field in a new contract licensing round.
A long-delayed upgrade of Iraq's largest refinery is now moving forward, promising to boost high-octane fuel production and reduce dependence on imports.
Payment delays to oil companies and bureaucratic disarray have kept the KRG from meeting its own ambitious target for ending the wasteful and polluting practice at several fields.
ExxonMobil is aiming to sell its stake to two buyers, Pertamina and Iraq’s state-run BOC, leaving PetroChina to take over as operator.
Both federal and KRG oil sales fell slightly as OPEC-plus gave no sign of lifting production caps.
The Sudani administration appears to be pushing forward long-delayed plans to develop Iraq’s upstream and downstream gas sector.
