Energy

Iran reversal on Strait of Hormuz threatens Iraq’s nascent export restart

Iranian forces blocked a tanker carrying Iraqi crude, dampening hopes for a durable resumption of Iraq's southern exports.

The Agios Fanourios I tanker prepares to dock at a single point mooring buoy in the Basra Gulf in April 2026 for the first loading of crude from Iraq's southern export outlets in more than a month. (Photo credit: Ministry of Transportation)

Jul 5, 2023

Oil exports rise for second consecutive month

KRG crude exports are still shut in due to the northern pipeline outage, but federal exports have increased further, nearing the maximum capacity of outdated Basra Gulf infrastructure.

Jul 4, 2023

Petronas signals Gharraf oil field exit

The Malaysian company wants to sell its stake to Pertamina due to late payments and low profit margins.

Jun 28, 2023

Cabinet suspends approval of major oil export expansion

Political scrutiny of a contract is delaying a subsea pipeline project with the potential to lift export capacity by 500,000 bpd in a year.

Jun 23, 2023

Iraq-Turkey talks begin over pipeline, but no signs of progress

Ankara sent a technical delegation to Baghdad but the two sides seem far from the top-level political agreement needed to restart oil flows.

Jun 19, 2023

May production rises by 100,000 bpd, but KRG oil still mostly offline

Northern pipeline outage gives Baghdad leeway for southern output increases despite tightened OPEC-plus quotas.

Jun 18, 2023

Iraq announces 6th bid round, offering 11 gas blocks

Another new contracting round builds on recent momentum to attract investors and raise domestic gas supplies.

Jun 15, 2023

Q&A: Ammar al-Anbagi, director general of SOMO

Iraq's oil marketing chief discusses Russia-related oil market dynamics, the restart of Qayarah crude exports, and recent steps to activate the TotalEnergies mega-deal.

Jun 13, 2023

Parliament passes budget after gutting KRG revenue guarantees

New budget law appears to represent a rejection of the recent Baghdad-Erbil political deals that had sought to balance oil and financial authorities.

Jun 8, 2023

Protesting refinery workers block fuel supplies in southern Iraq

Upset about provisions in Iraq's draft budget law, refinery employees are shutting down tanker traffic and threatening a crippling fuel shortage.

Jun 8, 2023

Exports edge upward, but northern pipeline remains offline

Baghdad has compensated for lost exports via Turkey with increased southern oil sales, but KRG exports remain entirely offline.