Increased tariffs are set to cost oil-producing companies millions of dollars per month — the latest headwind for Kurdistan's oil sector investors.
A 200-well driling plan aims to double production at one of Basra's largest fields — including high-value light crude from a relatively untapped reservoir.
Independent oil exports from Iraqi Kurdistan increased slightly, but oil prices helped Iraq overcome federal export slump.
A new 52-inch pipeline to Dohuk, near the Turkish border, will bring feedstock to a dormant power plant — with extra capacity for more destinations in the future, including potential exports.
Severe electricity shortages come at a politically sensitive time, highlighting the chronic weakness of Iraq's energy infrastructure and its over-reliance on Iranian imports.
After more than a month, the border has reopened for both trade and humanitarian traffic, alleviating economic pressure on a U.S. ally in the counter-IS fight.
Sinopec has agreed to commercial terms for developing the Diyala province gas field, but Iraq's current caretaker government is not signing a binding contract.
The temporary outage had no apparent impact on oil field operations or export volumes, but the cause of the incident is a matter of uncertainty and potential concern.
Despite the presence of a security protection team, an armed gang attacked a convoy carrying international oil workers to the Basra airport.
Crude output increased to nearly 4.5 million bpd in December, as Iraq continued opening the taps in response to loosening OPEC-plus quotas.
