With OPEC-plus pressure easing, Iraq increased exports slightly in July while higher oil prices drove monthly revenues to a 19-month high.
Iraq’s oil chief discusses negotiations with Total and Chevron, arbitration with Exxon, the future of INOC, several gas project updates, and budget talks with the Kurdistan region.
The unexpected directive could spur progress toward ending the wasteful and environmentally damaging practice of flaring, but it also raises concerns for oil companies.
June output averaged 4.05 million bpd. Iraq will have further leeway to increase production under a breakthrough deal recently agreed by the OPEC-plus group.