Iraq's number two oil field is planning to raise output by more than 200,000 bpd in the next three years — if it a can secure new supplies of water.
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.
New agreement could link Iraq into the GCC’s "energy highway," in an effort to meet rising electricity demand and reduce dependence on Iran.
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.
The federal Oil Ministry and the KRG both increased export rates, largely offsetting a decline in global crude prices.
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.
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.
Heavy fuel oil exports have become a major revenue stream for Iraq, but new international regulations are projected to lower demand drastically.
After a decade of failed efforts to strike downstream deals with top-tier companies, the Oil Ministry is looking to de-risk refinery investment.
In the first month after OPEC decided to extend its production cuts, Iraq's Oil Ministry barely adjusted its output.
