Iraq's northern exports remain offline in the aftermath of a landmark arbitration win against Turkey, with restart timing still unclear.
Key details of the landmark Iraq-Turkey arbitration ruling have big implications for the future of Baghdad-Erbil power dynamics and the KRG oil sector.
The long-delayed refinery has partially opened with production of heavy fuel oil and the promise of lighter products to come.
TotalEnergies will lead a consortium with the Basra Oil Company and QatarEnergy after overcoming difficult negotiations with Iraq over the government's stake in a potentially transformational set of energy deals.
Iraq's Cabinet has approved a reduced 30 percent stake for the state in an effort to unlock a $27 billion deal that could be critical for boosting oil, gas, and electricity supplies.
Signing ceremony signals strong political backing for agreement, but pipeline flows remain shut as technical details are still being negotiated.
Under a provisional compromise deal, SOMO would take over selling crude and KRG would keep control of its oil revenue.
Oil companies are beginning to shut down oil production after a landmark arbitration ruling that led Turkey to halt Iraq's northern exports.
CEO frames negotiations as a test of Iraq's ability to prioritize respect for contracts over political expedience.
Baghdad's legal victory appears to be altering the balance of power that has enabled Kurdistan's oil sector independence.
