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)

Jun 14, 2019

Optimism swells over giant Eridu discovery

Lukoil has upgraded an assessment of its Block 10 exploration results – the latest success stemming from a 2012 contract auction that was initially seen as lackluster.

Jun 13, 2019

Q&A: Ihsan Ismaael, director general of Basra Oil Company

Iraq's largest state oil company is expanding production capacity and building new infrastructure as it waits out an OPEC quota.

Jun 11, 2019

Iraq hikes production in May

Despite an OPEC quota, output is rebounding at Basra fields and new capacity continues to come online.

Jun 5, 2019

Basra oil sites draw renewed protests

Small-scale demonstrations at three oil installations raise the specter of last summer's destabilizing protest movement.

Jun 3, 2019

Iraqi crude exports jump to near-record levels in May

The federal government and KRG both increased their oil sales, combining for the second-highest monthly export average that Iraq has ever posted.

May 29, 2019

Iraq’s North Oil Co. sues to take Khurmala back from KRG

Khurmala Dome accounts for one-third of Iraqi Kurdistan's oil output; the federal North Oil Company, which controlled the field until 2008, is taking legal action to reclaim it.

May 24, 2019

Baghdad-Kurdistan oil disputes flare up in Parliament

After a period of detente following the formation of a new government, politicians are raising new complaints about federal budget payments to Kurdistan.

May 23, 2019

Deals in limbo as Oil Ministry fights political headwinds

As populist MPs raise unsubstantiated corruption allegations around oil projects, decision makers are moving cautiously on major initiatives while they beat back political opportunists.

May 18, 2019

U.S. warnings spur Exxon evacuation of expats

Production is unaffected and the security situation appears calm as ExxonMobil evacuates dozens of foreign staff from the West Qurna 1 field, following U.S. claims of threats from Iran.

May 16, 2019

Iraq maintains OPEC cuts in April

Output continues to fall as state-operated fields in Basra produce 400,000 bpd below capacity.