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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)
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 […]

Oct 29, 2007

KRG signs oil deal with India’s Reliance

Plus: Targeting the pirates that may be targeting Iraq’s oil Ahmad Chalabi’s back Consequences of the Turkish incursion and fight with Iraq Reliance Industries, the Indian private major, has signed a production sharing contract with the Kurdistan Regional Government for two exploration blocks, Verma and Simon Webb report for Reuters. Details are slight, and only […]

Oct 18, 2007

Iran and China answer calls by Iraq’s Electricity Ministry

Iraq has signed $1.1 billion worth of deals to construct new power plants with both Iranian and Chinese firms. Exactly how the two countries with massive demand gaps of their own are going to help supply Iraq’s power sector remains to be seen, but as James Glanz of The New York Times reports, the first […]