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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)

Iraq’s highest court strikes down INOC

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."

August production edges higher

Nationwide production topped 4.7 million bpd for the second straight month — the highest output since 2019.