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Energy

Iraqi oil exports stagnate at two-decade lows as wartime restrictions persist

April oil sales fell to one-twelfth of pre-war volumes as Basra exports restarted and stalled, and northern exports hit a plateau.
A worker checks the valve gears of pipes linked to oil tanks at Turkey's Mediterranean port of Ceyhan, which is run by state-owned pipeline company Botas. (UMIT BEKTAS/Reuters)

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.