Iraq had invited IOCs to bid on new development deals. But now state companies will handle some of those fields, and Iraq will delay contracting others until next year.

Even with higher oil prices and advance payments from oil traders, revenues still fall short of KRG budget needs.

Oil minister tasks SOC with implementing long-delayed infrastructure project, necessary for Iraq to achieve future oil production gains.

Oil Ministry pursues negotiations with IOCs on new oil projects - a warning shot at OPEC members seeking to impose quotas.

September oil sales increased by one-third, but net revenues fell again as trading houses recouped debts and did not make new loans.

Crude exports from southern Iraq ports increased month-on-month, with loadings further bolstered by new Kirkuk sales from Ceyhan as Baghdad-Erbil deal enters second month intact.

South Oil Company takes the largest role to date for a state owned company in a technical service contract after Occidental Petroleum's exit.