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.
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.
