Subscribe 

Energy

Sponsored by:

Iraq takes action on illicit oil schemes

U.S. designation of a key oil sector logistics provider highlights sanctions risks, prompting Iraqi measures to combat corruption in fuel trading.
Iraqi Navy vessels take part in operations to combat illicit oil sales in August 2025. (Photo credit: GCPI)
Dec 19, 2007

Pentagon report: Iraq Oil Ministry spending a little more on capital budgets, ranks production and electricity too … New deals by 2008 for Iraq’s oil sector … Turkey’s invasion unfolds …

A new Pentagon report says the Iraqi Oil Ministry's ability to administer its capital budget is slowly improving, Ben Lando reports for United Press International. The report, "Measuring Stability and Security in Iraq," released Tuesday by the U.S. Defense Department, said the ministry spent 36 percent, or $727 million, of its $2.4 billion capital budget […]

Dec 14, 2007

Iraq oil production still up, but can it hold? … Basra residents not fans of Brits … Electricity targeted again by attackers … Investigating Iraq’s U.S. Inspector General

Iraq oil is steady at 2.3 million barrels per day, according to the International Energy Agency, the BBC reports. It’s a substantial output considering the country’s huge reserves and that it has averaged less than 2 million bpd production since 2003. But the increase in production is because the northern pipeline has been fixed and […]

Nov 12, 2007

Kurds’ new oil deals … Baghdad’s critique … Khurmala controversy … and more…

Iraq’s Kurdistan Regional Government announced another five production sharing contracts Tuesday, moving forward on its own oil sector while the national government doesn't. Interesting notes: Four exploration blocks under one PSC were awarded to Norbest Limited, an affiliate of TNK-BP, the Russian arm of international giant BP. The question, then, is will Baghdad view this […]

Nov 6, 2007

KRG signs new oil deals … Kurds say Turkey is after Kirkuk, not PKK

The Kurdistan Regional Government once again makes good on its pledge to develop its own oil sector with or without Baghdad. It announced seven more deals with international oil firms Tuesday, with companies based in Austria, India and the United States, among others. "There has been great interest in Kurdistan’s exploration acreage," KRG Minister of […]

Oct 30, 2007

Iraq oil production down, capacity up, U.S. Iraq inspector finds

Plus: Electricity levels are bullish but details in the report are wanting Iraqis pay more to fill gas tank, if they can find fuel A U.S. review of Iraq reconstruction finds Iraq oil production down compared with this time last year, though capacity is up. Electricity production has hit record wartime levels, but both sectors […]