Crude output increased to nearly 4.5 million bpd in December, as Iraq continued opening the taps in response to loosening OPEC-plus quotas.
Now that Iraq has finished decades' worth of reparations payments to Kuwait, the Cabinet is proposing to continue diverting a portion of oil sales for a new purpose — domestic clean energy investments.
The closure blocks a major source of funding for the Rojava administration, a U.S. ally in the fight against IS.
Increasing OPEC-plus quotas and a recovery in global oil prices helped Iraq achieve rising crude exports and revenues.
Iraq is trying to resolve a dispute over one of its largest oil fields by authorizing the newly formed national oil company to take over ExxonMobil's operating stake.
Crude output fell as payment and regulatory uncertainty put investors on edge, but new activity could lead to production increases in 2022.
As Iraq begins to suffer the intensifying effects of climate change, competition for water threatens to spark conflict.
Genel Energy is taking the KRG to arbitration after years of failure to agree on a plan for developing the Miran and Bina Bawi gas fields.
Power producers in Iraqi Kurdistan are owed huge sums, forcing some to delay maintenance and sending a chilling signal to prospective investors.
Iraq's electricity service has suffered amidst unreliable gas and power imports from Iran, but efforts are moving slowly to diversify supply via four other neighboring countries due to unresolved pricing negotiations.
