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Energy

Iraqi exports dip on southern capacity squeeze

Increasing pipeline flows to Turkey were offset in November by ongoing reductions in Basra Gulf exports following a deadly oil depot fire.
Tugboats position a single point mooring (SPM) buoy in the Basra Gulf in January 2012 as Iraq expands its export capacity. (ALI ABU IRAQ/Iraq Oil Report)

August production falls as Iraq initiates cuts

Renewed OPEC-plus pressure pushes Iraq to cut at least 100,000 bpd from state fields and accelerate maintenance plans at other projects in a bid to improve quota compliance.

BP revives quest for Kirkuk oil deal

A new memorandum of understanding signals a new phase in BP's decade-long pursuit of a deal to rehabilitate major oil fields in Kirkuk.