Military ceremony marks the beginning of the unknown

A man fishes across from the Green Zone on the Tigris River in Baghdad December 2, 2011. The last 13,000 U.S. troops will pull out of Iraq by the end of the year. (SHANNON STAPLETON/Reuters)

U.S. troops will be gone by the end of the year, and a truly sovereign Iraq is now a country with an uncertain fate.

Karbala refinery deal could be downstream milestone

The Daura Refinery was built in 1955. Iraq is hoping to get foreign investment in new refineries to expand production around the country. (BEN LANDO/Iraq Oil Report)

The Oil Ministry has entered an exclusive 6-month negotiating window with the Refinery of Karbala Corporation for a $6.5 billion deal that would boost Iraq’s lagging downstream sector.

UPDATE: Attacks continue on south oil sector

Excess gas is flared at the Rumaila oil field in Basra, as workers look on. (ATEF HASSAN/Reuters)

Roadside assault targets western contractor providing oil sector security, the latest in an uptick of violence.

Energy

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Business

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Rumaila deal challenge now Feb. 1

Federal court hears new arguments, agrees to give time to government to respond to MP's lawsuit challenging legality of BP deal for Rumaila field.

Interviews

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Interview: Thamir Ghadhban

Thamir Ghadhban (center) and Midland Refineries Co. Director General Dathar al-Kashab in a 2005 tour of the Daura refinery. (SABAH ARAR/AFP/Getty Images)

The top oil adviser to the Iraqi prime minister talks about the Akkas gas field row, moderated oil production forecasts, and balancing Iraqi potential with market fundamentals.