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)

Nov 4, 2020

KDP-PKK conflict intensifies near Kurdistan oil fields

An attack near the Swara Tika and Atrush oil fields comes a week after a pipeline explosion blamed on the PKK, and as Turkey pressures leaders in Erbil and Baghdad to confront the guerrilla group.

Nov 2, 2020

Export increase gives Iraq more oil revenues despite price drop

Federal Iraq exports increase by more than 250k bpd and KRG posts slight decline.

Oct 30, 2020

Q&A: Hossam Hussein Wali, director general of the South Refineries Company

Iraq is expanding existing refineries, but greenfield projects in the south are not moving forward.

Oct 28, 2020

KRG plans to privatize power distribution, bill collection

Plan could earn KRG revenue and save electricity, but requires elusive public buy-in.

Oct 22, 2020

Oil Ministry orders 250,000 bpd October production hike

Surge in production comes as Iraq attempts to navigate the opposing pressures of a financial crisis and quota commitments to OPEC-plus.

Oct 15, 2020

Iraq’s September production drops 200,000 bpd toward OPEC+ compliance

Under pressure from the OPEC-plus coalition to compensate for past over-production, Iraq makes painful cuts mainly from IOC-operated fields.

Oct 14, 2020

Iraq outlines financial crisis response plan

Emergency measures include $35 billion in new borrowing, a total overhaul of the economy, and the potential devaluation of the Iraqi dinar.

Oct 14, 2020

Kirkuk power supply awaits repair of Ajeel pipeline

Repairs of gas pipeline explosion 10 days ago identified additional problems, causing delays to electricity feedstocks.

Oct 7, 2020

Rockets on Erbil were launched near Kurdistan oil operations

The Sept. 30 rocket attack near the Erbil airport highlights the reach of rogue militant groups and the risks they pose to the investment climate in both federal Iraq and Kurdistan.

Oct 2, 2020

Loadings from Turkey lead slight Iraqi export increase

Iraqi oil sales are still near six-year lows, and revenue has dipped along with global oil prices.