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Energy

Iraq seeks backup options for West Qurna 2

As a sanctions deadline looms, Basra Oil Company is poised to manage the 480,000 bpd field while Lukoil continues negotiating to sell its stake.
A ceremony at the West Qurna 2 oil field in Basra to mark the opening of two new well complexes on June 1, 2023. (JASSIM AL-JABIRI/Iraq Oil Report)

Beyond the Headlines: Dec. 12-18

Amri: OPEC quota talks to begin Federalism sparks national controversy Missan aims for 190k bpd in 2012 Erbil kidnap rescued

Iraq talks tough with Exxon

As negotiations with Exxon begin, Deputy Prime Minister for Energy Hussain al-Shahristani said the Iraqi government won't condone contracts signed with Kurdistan.

Beyond the Headlines: Dec. 5-11

Missan moves on power plans Potential Iraq-Turkey-Syria water pact Attack to blame for power outage Kirkuk violence continues

Oil optimism buoys draft budget

Anticipating export increases due to new infrastructure and rising Kurdish production, Iraq's Cabinet has approved a record-setting draft budget of nearly $100 billion.

Analysis: What was Exxon thinking?

Exxon risked its stake in a super-giant Iraqi field and cast its lot with Kurdistan. The gamble might not be as risky as it seems.

Beyond the Headlines: Nov. 21-27

Elect. Ministry faces lawsuit over quotas Mehdi Army accused of plot to kill Anbar gov. Missan pipeline, drilling progress Oil development problems in Dhi Qar

Shell gets its gas deal

After years of negotiations, Shell inks a 25-year gas company joint venture with Iraq, making it the largest investor in the country's oil sector.

Basra leaders threaten lawsuit

Days before Shell and Iraq are to formalize a new gas company, Basra's local government has voted to file a lawsuit challenging the deal.