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)

Jun 15, 2020

Iraq questions fairness, but closes in on OPEC-plus target

Production cuts and falling exports move Iraq closer to OPEC-plus quota compliance.

Jun 12, 2020

Low prices and payment delays reverse two-year expansion of Kurdistan’s oil sector

The KRG's production is falling as cash flows dry up and companies pare back investment.

Jun 11, 2020

Despite big cuts, Iraq fails to meet OPEC quota

Major reductions totaling almost 200,000 bpd were not nearly enough to bring Iraq's May production in line with an OPEC-plus agreement.

Jun 4, 2020

Shell evacuation reveals cracks in Basra Gas Company consortium

Protests that prompted an emergency evacuation in May were caused by a breakdown in payments and cooperation between Shell and its government partners.

Jun 4, 2020

Basra oil chief nominated as oil minister

Ihsan Ismaael, head of the Basra Oil Company, has been tapped to lead Oil Ministry pending vote in Parliament.

Jun 3, 2020

Iraq’s May exports exceed its OPEC production quota

After cutting output less than anticipated, Iraq promises further moves to reduce production and bolster global prices.

May 22, 2020

Baghdad offers Kurdistan payment tied to budget talks

Letter from Iraqi finance minister to KRG prime minister offers a one-time, $338 million payment – and continuing negotiations for a new budget deal.

May 21, 2020

Financial free fall threatens Kurdistan’s stability, oil sector

In an era of depressed oil prices and budget disputes, the KRG has lost most of the revenue that underwrites its economy, and has no clear plan for bridging its deficits.

May 20, 2020

Basra Gas Company evacuates expat staff during protests

Foreign staff of the Shell-Mitsubishi-Iraq joint venture left the country after local workers protested for unpaid salaries.

May 18, 2020

Q&A: Southern Iraq oil products chief Arkan Abdul-Qaddir al-Hilfi

The company responsible for distributing much of Iraq's fuel is taking new precautions during the pandemic but operating without interruption.