Nationwide output fell by about 60,000 bpd, but appears set to rebound as Iraq's most prolific field recovers from a damaging fire.
Production capacity at the West Qurna 1 oil field is set to increase to 600,000 bpd in 2023 despite operator ExxonMobil’s planned exit.
The field awarded to Kogas to develop in 2010 but then shut down by security issues for nearly a decade has been connected to a nearby power plant by Iraqi state oil and gas workers.
Violent political disputes bewteen Kurdistan's ruling parties are undermining their leverage in Baghdad at a pivotal time of government formation.
Output stays above 4.7 million bpd for third straight month, but reductions are on the horizon as tighter OPEC quotas take effect in November.
Revenues fell with global oil prices, but higher export volumes through Ceyhan helped offset a pipeline leak that temporarily halted Basra Gulf tanker loadings.
Political hurdles and unresolved commercial negotiations have set back Iraq's most ambitious plans for associated gas. Smaller projects could start to fill the vacuum.
One of Iraq's largest oil fields is nearly doubling its capacity next year — and, with new seismic work, likely increasing reserves beyond its current 47 billion barrels.
Iraq could soon gain a new option for exporting crude with the ongoing expansion of Khor al-Zubair port.
The Federal Supreme Court appeared to end Oil Minister Ihsan Ismaael's fledgling efforts to create an Iraqi National Oil Company, ruling its legal foundations "invalid."
Gazprom Neft sends lawyer to court, bucking trend of companies ignoring Oil Ministry lawsuits seeking to invalidate KRG oil contracts.
