Energy

Iraqi wartime production cuts reach 3.6 million bpd

Iraq is navigating acute logistical and infrastructure challenges to maximize refinery consumption and exports while the Strait of Hormuz remains closed.

Workers from the state-run Iraqi Drilling Company (IDC) work on a well at the West Qurna 1 field in Basra in March 2026. (Photo credit: IDC)

Nov 7, 2007

Iraqi Kurd government to announce two more oil deals soon … Reliance paid $15M+ as signing bonus

Iraq’s Kurdistan Regional Government will announce two more oil deals in coming days as it develops its oil sector with state-owned and private oil firms. There has been no response yet from Baghdad after the KRG’s announcement yesterday of another six production-sharing contracts it has signed. The KRG’s semiautonomous region in Iraq’s north has the […]

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 […]

Nov 6, 2007

Iraqi Kurds announce SEVEN new oil deals to foreign firms, and FOUR to the new Kurdistan oil company

The KRG announced the new deals Tuesday, a major move which will have reverberations yet to be realized within the political spheres from Baghdad to Washington, as well as the global oil industry. Iraq Oil Report will have more details, but here's what's out so far: # Award of two PSCs, for the Mala Omar […]

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 […]

Oct 8, 2007

An Iraqi Kurdish leader explains their oil prerogative, plus sales of Kirkuk oil and electricity developments

The Kurdistan frame of mind in the Iraq oil debate is laid out by Nechirvan Barzani, prime minister of the Kurdistan Regional Government, in a Wall Street Journal op-ed over the weekend. This August, the Kurdistan Regional Government (KRG) of Iraq passed an oil and gas law to regulate the oil sector in our region. […]

Oct 5, 2007

Iraq’s National Security Chief says an oil law compromise where everyone is “unhappy” is drawing near

Mowaffak al-Rubaie was largely optimistic Friday in a speech during a Washington visit, including on plans to protect and bolster the crucial energy sector. "That’s the best compromise I think, whereby everybody goes home partly unhappy. And that compromise, I think we are very close to that. We need some tweaking on that." Click HERE […]

Oct 2, 2007

TOP STORY: Iraqi Kurds sign the next batch of oil deals, with many more to follow

Iraq’s Kurdistan Regional Government made a sudden but not unexpected announcement Tuesday it had signed four more controversial oil deals. While the move highlights success in the region, it comes as the central government in Baghdad struggles to meet long-term agenda items like a national oil law.Iraq’s government reacted to the news in the same […]

Oct 2, 2007

BREAKING NEWS: KRG signs 4 new Production Sharing Contracts

The Kurdistan Regional Government of Iraq announced Tuesday morning it has signed four additional production sharing contracts and deals for two new oil refineries. Two of the PSCs have been named: one to Heritage Energy Middle East Ltd., a wholly owned subsidiary of the Canadian firm Heritage Oil & Gas; the other to Perenco Kurdistan […]