Energy

Iraq ends 2024 with deep production cuts

Steep reduction at Rumaila brought Iraq's December production average to its lowest level in 18 months as Iraq continues to restrain output in an effort to meet OPEC-plus expectations.

Personnel from the state-run Iraqi Drilling Company (IDC) operate a drilling rig at the Zubair oil field in Basra in September 2024. (Photo credit: IDC)

Aug 22, 2019

Ahead of oil talks with Baghdad, KRG proposes new budget framework

As leaders in Erbil and Baghdad prepare for detailed negotiations on long-standing disputes, the KRG is offering to hand over all of its oil exports to the federal government – for a price.

Aug 21, 2019

Iraq braces for major decline in lucrative fuel trade

Heavy fuel oil exports have become a major revenue stream for Iraq, but new international regulations are projected to lower demand drastically.

Aug 16, 2019

Iraq seeks refinery investors with policy overhaul

After a decade of failed efforts to strike downstream deals with top-tier companies, the Oil Ministry is looking to de-risk refinery investment.

Aug 14, 2019

Iraq maintains July oil output near 4.8m bpd

In the first month after OPEC decided to extend its production cuts, Iraq's Oil Ministry barely adjusted its output.

Aug 7, 2019

As Iraqi production grows, export bottlenecks loom

Iraq's OPEC cuts have masked a key problem: export capacity isn't keeping pace with production gains, and many solutions are years away.

Aug 6, 2019

Baghdad slow-walks court fight on KRG oil policy

Prime Minister Abd al-Mahdi has again delayed a key legal filing, signaling an apparent desire to settle long-standing disputes through political negotiation rather than court battles.

Aug 5, 2019

New leadership revives Baghdad-Erbil oil talks

After more than a decade of disputes over oil and revenue, Iraqi leaders see renewed political and financial incentives to negotiate solutions.

Aug 2, 2019

Oil exports jump to more than 4 million barrels a day from Iraq

July data shows crude sales of both the federal and Kurdistan region governments bounce back from June drop.

Jul 19, 2019

Hormuz incidents highlight Iraqi export vulnerability

Iraq is scrambling to diversify its oil export routes amidst Iran-U.S. tensions, but there are no quick fixes.

Jul 18, 2019

American firms tapped for Ratawi gas deal

The Oil Ministry and Honeywell have agreed to initial terms on a project that promises to cut nearly one-fifth of Iraq's current gas flaring – and could help convince the U.S. to keep granting Iran sanctions waivers.