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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)

July oil exports and revenues climb

With OPEC-plus pressure easing, Iraq increased exports slightly in July while higher oil prices drove monthly revenues to a 19-month high.

Q&A: Oil Minister Ihsan Ismaael

Iraq’s oil chief discusses negotiations with Total and Chevron, arbitration with Exxon, the future of INOC, several gas project updates, and budget talks with the Kurdistan region.