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)

Mar 17, 2023

February oil sales rise on higher northern exports

Increase of 94,000 bpd mainly due to higher volumes of both KRG and federal exports via Turkey.

Mar 14, 2023

Cabinet passes draft budget with record spending and new KRG framework

Attempting to triangulate between opposing political forces, Sudani also pushes through a long-delayed financial transfer to Kurdistan.

Mar 11, 2023

Iraq explores new partners for Nahr Bin Omar gas project

The Cabinet has authorized negotiations for a project to build 300 million scf/d of associated gas processing capacity at the Basra field.

Mar 9, 2023

Iraq replaces head of oil marketing company

Ammar Abdal al-Anbagi has taken over as the new director general of SOMO, ending the five-year tenure of Alaa al-Yassiri.

Mar 9, 2023

Oil Ministry eases Kurdistan blacklist pressure

The Sudani administration appears to be turning a blind eye to the blacklist policy enacted by the previous government against KRG oil sector companies.

Mar 2, 2023

Fiscal, technical, and political challenges crimp KRG oil output

Oil companies warn of further production declines as Kurdistan's payment problems discourage investment.

Feb 28, 2023

New oil law negotiations highlight old divisions

In early talks between Baghdad and Erbil, negotiators have outlined the same points of conflict that have stalled oil legislation since 2007.

Feb 21, 2023

Iraq signs 5th round contracts, previews potential 6th round

Iraq has finally inked deals first awarded in 2018, raising hopes for the Oil Ministry's efforts to prepare a sixth contract licensing round.

Feb 17, 2023

TotalEnergies extends deadline to conclude $27bn Iraq deal

After negotiations nearly fell apart two weeks ago, the French firm gave until Feb. 15 to finalize a deal — a deadline now extended by one month.

Feb 16, 2023

Mansuriya deal collapsing after Sinopec requests contract overhaul

The Oil Ministry is considering a backup plan of offering the gas field in a new contract licensing round.