China’s UNIPEC has bought the first 1 million barrels of heavy crude to be exported from Basra's Khor al-Zubair port.
Federal Iraqi exports increased slightly, but nationwide exports dropped steeply due to the total shutdown of the northern pipeline system and KRG oil sales.
The two sides are finalizing technical details and sub-agreements to activate a potentially transformational $27 billion energy project.
Production began to drop in February and March, even before a prolonged northern export outage and impending OPEC-plus cuts.
New infrastructure will process 300 million scf/d of associated gas by mid-2024, decreasing the wasteful practice of flaring and increasing feedstock for power generation.
Norway's Scatec has pulled out of what was once touted as a trailblazing solar project, highlighting the Sudani administration's challenges in reviving momentum on renewable power.
Gas is now flowing to a nearby power plant, attracting renewed investor interest — but also highlighting ongoing technical, administrative, and security challenges.
Iraq's northern exports remain offline in the aftermath of a landmark arbitration win against Turkey, with restart timing still unclear.
Key details of the landmark Iraq-Turkey arbitration ruling have big implications for the future of Baghdad-Erbil power dynamics and the KRG oil sector.
The long-delayed refinery has partially opened with production of heavy fuel oil and the promise of lighter products to come.
