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)

Apr 23, 2021

Total and Iraq face difficult sticking points in details of massive energy deal

The two sides still need to overcome the same sticking points that have derailed Iraq's previous attempts at multi-faceted Basra mega-deals.

Apr 22, 2021

Q&A: Khalid Hamza Abbas, Basra Oil Company director general

The chief of Basra's oil sector discusses Exxon's impending departure from West Qurna 1, Total's bid for a massive new deal, and Iraq's efforts to develop new capacity from state-run fields.

Apr 21, 2021

Exxon sets deadline to exit West Qurna 1, prompting tough talks with Iraq

The Oil Ministry wants to replace Exxon with another American company, while Exxon has lined up two Chinese firms to buy its stake.

Apr 20, 2021

Iraq awards Mansuriya gas field to Sinopec, boosting hopes for domestic gas sector

Key gas project beset by contracting and security problems could serve domestic energy demand and ease sanctions tension with Washington.

Apr 15, 2021

The Royal Court restaurant, the oil insider, and the $100,000 bribe

In Nassiriya, the arrest of an oil official highlights a kind of corruption that usually stays in the shadows of political protection networks.

Apr 7, 2021

Q&A: Bassem Abdul Karim Nassir, head of the Iraqi Drilling Company

The director general of Iraq's state-run drilling company discusses plans to help the country boost production in an era of higher oil prices and loosening OPEC constraints.

Apr 5, 2021

Production restarts at Sarqala

Days after the field was shut down because of disputes between politically connected trucking companies, the Kurdistan region has regained 30,000 bpd of production.

Apr 2, 2021

Rising oil sales fuel hopes of funding new 2021 budget targets

After passing a budget with a record-setting deficit, Iraq is banking on more months like March to meet spending goals and recover from a financial crisis.

Mar 31, 2021

Iraq revives efforts to revamp oil sector legislation

Hydrocarbons and national oil company laws get renewed push after more than a decade of political deadlock.

Mar 23, 2021

Iraq production jumps as OPEC-plus pressure eases

As oil markets enter an era of higher prices and fewer OPEC constraints, Iraq appears to be preparing a push for more market share.