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)

Jun 28, 2016

Oil production rising, but problems loom

IOCs are investing enough to boost Iraq's overall output despite tight budgets, but short-term fixes are masking fundamental issues that could undermine medium-term growth.

Jun 9, 2016

IMF program pushes Iraq to pay oil companies

To unlock $15 billion in loans, Iraq needs to pay off debts to IOCs – part of a program designed to improve fiscal discipline and raise the confidence of international investors and lenders.

Jun 2, 2016

Q&A: Deputy Oil Minister Fayadh Nema

On the sidelines of an OPEC meeting, Nema talks about the steps Iraq is taking to overcome challenges and hit ambitious production targets.

Jun 1, 2016

Oil revenues rise despite export dip

Poor weather and power outages cut into exports but an upward trend in the global oil price puts more money in Iraqi coffers.

Jun 1, 2016

Kurdistan launches mining sector

KRG’s Ministry of Natural Resources calls for expressions of interest in seven prospective mineral exploration licenses.

May 26, 2016

UPDATE: KRG oil payments sputter on low revenue

DNO, Genel and Gulf Keystone confirm partial April payment, but delays threaten to undermine a new policy that had sparked some investor optimism.

May 26, 2016

Basra security reinforced amidst unrest near oil sites

New security leadership and armored reinforcements come to Iraq's oil capital, as protests over jobs and conflicts among tribes cause instability near major oil sites.

May 24, 2016

Q&A: Mohammed Sahib al-Daraji, Minister of Industry and Minerals

Using public-private partnerships - such as new petrochemicals projects with IOCs - Daraji hopes to ease the government out of industries where state-owned companies are losing money.

May 18, 2016

New investment revives modest hopes for KRG oil sector

After two years of non-payments and security concerns, Kurdistan-focused oil companies are gingerly starting to reinvest.

May 17, 2016

Faced with dominant rival, competing Kurdish parties reunite

Sulaimaniya’s PUK and Gorran parties have agreed to electioneer and vote together, hoping to clip the wings of acting President Massoud Barzani’s KDP.