A unilateral decision to reduce payment of debts has cast new uncertainty on Kurdistan's oil sector, threatening to deter IOC capital spending and new production growth.

In a recent letter, the Basra Oil Company said it would neither approve a sale to two Chinese companies nor buy out Exxon's stake on the same terms.

The widely respected geologist, whose career spanned decades in both federal Iraq and Kurdistan, died May 1 after contracting coronavirus.

Saudi Arabia's Delta Oil Company is a potential partner along with U.S. firm Schlumberger to bring badly needed investment and gas supply to Anbar province.

Several projects still wastefully burn associated gas, but a new power plant is the latest sign that Kurdistan is harnessing gas to boost electricity and reduce expensive fuel imports.

As OPEC-plus quotas ease, Iraq is bringing dormant production capacity back online.

Because of weaker global oil prices, Iraqi oil revenues dropped 5 percent even though exports ticked upward.