Energy

New SOMO director named as Iraq reshuffles oil sector leadership

Ali Nazar al-Shatari will be Iraq's new head of oil marketing as the Sudani government makes changes across several top oil posts.

SOMO Deputy Director General and Head of Crude Ali Nazar al-Shatari (right), at the Nov. 30, 2016, OPEC meeting in Vienna with then-Iraqi Oil Minister Jabbar Ali al-Luiebi (center), and then-SOMO Director General Falah Alamri (left). (Source: OPEC Media Office)

Sep 20, 2019

Record August production highlights Iraqi spare capacity

As oil markets respond to geopolitical conflicts, a record month for Iraqi crude production showcases the latent potential of the country's state-run fields.

Sep 15, 2019

To diversify power supply, Iraq signs framework deal with Gulf countries

New agreement could link Iraq into the GCC’s "energy highway," in an effort to meet rising electricity demand and reduce dependence on Iran.

Sep 5, 2019

Sanctioned Russian company moves toward Iraq exploration deal

The Oil Ministry has initialed a contract with Stroytransgaz – a target of U.S. sanctions on Russia – for exploration and development in Anbar province. The deal awaits final Cabinet approval.

Sep 4, 2019

Total Iraqi oil exports rise to 4.077m bpd in August

The federal Oil Ministry and the KRG both increased export rates, largely offsetting a decline in global crude prices.

Aug 31, 2019

Iraq seeks minority partners to develop massive Mansuriya gas field via state company

After terminating its contract with TPAO, the Oil Ministry is relying on the state-run Midland Oil Company to operate a key gas field — and is seeking private-sector partners.

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.