Iraq's Oil Ministry is sitting on roughly 1 million bpd of capacity — and developing more — as OPEC quotas begin to ease.

Abdul Mahdy al-Ameedi, former head of contracts for the Oil Ministry, weighs in on the details of the contract for the West Qurna 1 oil field, as ExxonMobil looks to exit the project.

After more than a year offline, the Ninewa province heavy oil field is producing about 10,000 bpd, with output trucked to Kirkuk.

Iraq's nationwide oil exports fell slightly month on month, but rising oil prices more than made up the difference.

The recently discovered field could begin producing 30,000 bpd by 2024, pending a potentially difficult contract renegotiation.

A unilateral decision to reduce payment of debts has cast new uncertainty on Kurdistan's oil sector, threatening to deter IOC capital spending and new production growth.

In a recent letter, the Basra Oil Company said it would neither approve a sale to two Chinese companies nor buy out Exxon's stake on the same terms.