Energy

Iraq races to finalize oil deals ahead of elections

Sudani administration activates a major contract with BP and strikes preliminary agreements with ExxonMobil and Chevron as national elections near and deal-making window starts to shut.

Iraqi Prime Minister Mohammed Shia al-Sudani (standing, center), BP CEO Murray Auchincloss (standing, left), and Oil Minister Hayyan Abdulghan (standing, right) oversee the signing of a deal for BP to rehabilitate Kirkuk oil fields and build gas processing and power generation infrastructure at a ceremony in Baghdad on March 26, 2025. (Photo credit: Prime Minister's Office)

Sep 3, 2020

Iraq moves toward restructuring oil sector with INOC law revisions

Cabinet and Oil Ministry legal teams have proposed amendments to the 2018 law to re-constitute the Iraqi National Oil Company, after Iraq's highest court deemed many articles unconstitutional.

Sep 3, 2020

August oil exports drop 5.5% but revenues rise

Falling export volumes suggest Iraq is following through on promises to make extra production cuts in support of an OPEC-plus effort to support global prices.

Aug 21, 2020

Iraqi ports company defends tanker business against the Basra Oil Co.

The Basra Oil Company is attempting to take over oil tanker escort management from the Transportation Ministry’s ports company.

Aug 21, 2020

Q&A: Farhan Mohsen al-Fartosi, head of Iraqi Ports

Iraq’s ports company chief talks about post-Beirut security, a tanker dispute with the Basra Oil Company, and managing the risk of coronavirus to his company.

Aug 19, 2020

Iraq dangles energy deals ahead of Kadhimi-Trump meeting

Chevron would negotiate a joint venture with Iraqi state companies for exploration rights in southern Iraq — a deal that could set a positive tone during a state visit to Washington.

Aug 18, 2020

July production falls to five-year low as Iraq pledges deeper OPEC cuts

Iraq shaves 200,000 bpd since June, as the Oil Ministry promises compliance with OPEC-plus.

Aug 6, 2020

Q&A: Hussein Abdul-Kadhim Hussein, director of the Rumaila Operating Organization

The Rumaila field produces one-third of Iraq's oil, but it has pulled back from record output due to budget constraints and OPEC obligations.

Aug 6, 2020

Shell to return to Basra with new head

Following payment disputes and volatile protests that prompted the Basra Gas Company's expat staff to evacuate, Shell and Iraq's South Gas Company are bringing in new leadership as they attempt to reconcile.

Aug 4, 2020

Iraq’s July oil exports hit five-year low, but revenues rise

Reduced crude sales reflect ongoing efforts to comply with an OPEC-plus quota agreement, which has helped support global prices and Iraqi earnings.

Jul 31, 2020

Iraq in talks with Saudi Arabia and Honeywell over Basra mega-deal

Pivoting away from negotiations with ExxonMobil, Iraq is now putting the Ratawi oil field at the center of a prospective upstream, gas, and power deal with Saudi Arabia.