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Energy

Oil production steady as new PM urges review of OPEC quota

October oil output stayed near Iraq's high-water mark for the year as the newly elected prime minister expressed support for OPEC-plus but criticism of Iraq's quota.

Flares burn at the West Qurna 1 oil field in October 2022. (JASSIM AL-JABIRI/Iraq Oil Report)

Akkas gas field to start production

The field awarded to Kogas to develop in 2010 but then shut down by security issues for nearly a decade has been connected to a nearby power plant by Iraqi state oil and gas workers.

Iraq’s highest court strikes down INOC

The Federal Supreme Court appeared to end Oil Minister Ihsan Ismaael's fledgling efforts to create an Iraqi National Oil Company, ruling its legal foundations "invalid."

August production edges higher

Nationwide production topped 4.7 million bpd for the second straight month — the highest output since 2019.

July crude output rises by 100,000 bpd

Production increased sharply at key southern fields but infrastructure bottlenecks still limit Iraq's ability to take advantage of rising OPEC quotas.

July oil exports slightly down

Iraq's crude sales receded in July as seasonal demand spikes fueled domestic consumption and quality issues hurt the marketing of Basra Heavy.