A subsea pipeline project could lift export capacity by 500,000 bpd in just over a year, but the funds can't be released until Iraq passes a new budget.
Oil Ministry launches new effort to attract investment in 13 oil and gas fields and exploration blocks.
Iraq is developing new production capacity, but output is currently falling because of infrastructure bottlenecks in the south and the prolonged Turkey pipeline shutdown.
Formal orders from SOMO highlight progress in Baghdad-Erbil negotiations to implement a new framework for Kurdistan’s oil and revenue. All eyes are now on Turkey.
China’s UNIPEC has bought the first 1 million barrels of heavy crude to be exported from Basra's Khor al-Zubair port.
Federal Iraqi exports increased slightly, but nationwide exports dropped steeply due to the total shutdown of the northern pipeline system and KRG oil sales.
The two sides are finalizing technical details and sub-agreements to activate a potentially transformational $27 billion energy project.
Production began to drop in February and March, even before a prolonged northern export outage and impending OPEC-plus cuts.
New infrastructure will process 300 million scf/d of associated gas by mid-2024, decreasing the wasteful practice of flaring and increasing feedstock for power generation.
Norway's Scatec has pulled out of what was once touted as a trailblazing solar project, highlighting the Sudani administration's challenges in reviving momentum on renewable power.
Gas is now flowing to a nearby power plant, attracting renewed investor interest — but also highlighting ongoing technical, administrative, and security challenges.
Iraq's northern exports remain offline in the aftermath of a landmark arbitration win against Turkey, with restart timing still unclear.
The long-delayed refinery has partially opened with production of heavy fuel oil and the promise of lighter products to come.
TotalEnergies will lead a consortium with the Basra Oil Company and QatarEnergy after overcoming difficult negotiations with Iraq over the government's stake in a potentially transformational set of energy deals.
Iraq's Cabinet has approved a reduced 30 percent stake for the state in an effort to unlock a $27 billion deal that could be critical for boosting oil, gas, and electricity supplies.
Oil companies are beginning to shut down oil production after a landmark arbitration ruling that led Turkey to halt Iraq's northern exports.
CEO frames negotiations as a test of Iraq's ability to prioritize respect for contracts over political expedience.
The heavy oil field has been mostly offline for three years, but is scheduled to resume imminently with 30,000 bpd of production.
Increase of 94,000 bpd mainly due to higher volumes of both KRG and federal exports via Turkey.
The Cabinet has authorized negotiations for a project to build 300 million scf/d of associated gas processing capacity at the Basra field.
Ammar Abdal al-Anbagi has taken over as the new director general of SOMO, ending the five-year tenure of Alaa al-Yassiri.
Oil companies warn of further production declines as Kurdistan's payment problems discourage investment.
Iraq has finally inked deals first awarded in 2018, raising hopes for the Oil Ministry's efforts to prepare a sixth contract licensing round.
After negotiations nearly fell apart two weeks ago, the French firm gave until Feb. 15 to finalize a deal — a deadline now extended by one month.
