Production continues to increase as Iraq takes advantage of rising OPEC-plus quotas.
Iraq has begun enforcing legislation that prevents foreigners from owning a majority stake in any Iraqi company, casting new uncertainty on an already difficult investment climate.
Expansions of southern Iraq's refining capacity appear to depend on negotiations with foreign investors.
As Kurdistan's authorities crack down on flaring, a $110 million project by Norway's DNO shows how capturing the associated gas produced along with crude can help both the environment and the bottom line.
The U.S. government's overseas lending facility has approved a huge loan to finance new gas supplies, signaling direct support for Kurdistan's energy sector.
Infrastructure bottlenecks will limit Iraq's exports and production in the short term, but SOMO is squeezing value from oil sales through new marketing strategies.
An estimated $27 billion will be spent to increase oil output, cut gas flaring, and launch the country's first solar project.
In his dual capacity as oil minister and INOC president, Ihsan Ismaael is moving key management authorities and oversight of state oil companies to the newly formed company.
The package of four projects promises to provide transformational infrastructure for processing gas, boosting electricity supply, and raising oil production capacity.
Oil sales hit a 20-month high as Iraq increased export volumes and opened up a new revenue stream with jet fuel exports.
