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Energy

Iraq seeks backup options for West Qurna 2

As a sanctions deadline looms, Basra Oil Company is poised to manage the 480,000 bpd field while Lukoil continues negotiating to sell its stake.
A ceremony at the West Qurna 2 oil field in Basra to mark the opening of two new well complexes on June 1, 2023. (JASSIM AL-JABIRI/Iraq Oil Report)

Qayarah field resumes production

After more than a year offline, the Ninewa province heavy oil field is producing about 10,000 bpd, with output trucked to Kirkuk.

Cabinet files legal challenge to 2021 budget

Kadhimi's government is seeking to strike down budget provisions added by Parliament, including new financial rules for state-owned oil companies and fuel import taxes.