Energy

Iraq seeks backup options for West Qurna 2

As a sanctions deadline looms, Basra Oil Company is poised to manage the 480,000 bpd field while Lukoil continues negotiating to sell its stake.

A ceremony at the West Qurna 2 oil field in Basra to mark the opening of two new well complexes on June 1, 2023. (JASSIM AL-JABIRI/Iraq Oil Report)

Nov 12, 2020

October production rises 4% despite OPEC-plus quota

Iraqi crude output increased by 150,000 bpd as the Oil Ministry struggles to balance between meeting OPEC obligations and addressing a severe cash shortage.

Nov 6, 2020

Q&A: Marfaa Kadhim al-Assadi, deputy director of Basra Gas Company

Now that Shell personnel have returned, BGC is focused on resuming delayed projects to turn more flared gas into electricity and revenue for Iraq.

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.