Energy

Iran reversal on Strait of Hormuz threatens Iraq’s nascent export restart

Iranian forces blocked a tanker carrying Iraqi crude, dampening hopes for a durable resumption of Iraq's southern exports.

The Agios Fanourios I tanker prepares to dock at a single point mooring buoy in the Basra Gulf in April 2026 for the first loading of crude from Iraq's southern export outlets in more than a month. (Photo credit: Ministry of Transportation)

Sep 6, 2021

Q&A: Ali Nazar al-Shatari, deputy director general of SOMO

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.

Sep 6, 2021

TotalEnergies and Iraq sign blockbuster energy deals

An estimated $27 billion will be spent to increase oil output, cut gas flaring, and launch the country's first solar project.

Sep 4, 2021

INOC launches, aiming to restructure Iraq’s oil sector

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.

Sep 3, 2021

Total expected to sign $27 billion deal on Sept. 5

The package of four projects promises to provide transformational infrastructure for processing gas, boosting electricity supply, and raising oil production capacity.

Sep 2, 2021

Iraq’s August oil revenues steady as export volumes rise

Oil sales hit a 20-month high as Iraq increased export volumes and opened up a new revenue stream with jet fuel exports.

Aug 27, 2021

Macron visit feeds hopes of breakthrough for Total deal

The French president's second trip to Iraq in less than a year could potentially help push a massive energy deal across the finish line for TotalEnergies.

Aug 26, 2021

July oil output jumps by 150k bpd

As the OPEC-plus coalition prepares to loosen its quotas further, Iraqi production has risen to its highest monthly average since April 2020.

Aug 20, 2021

KRG serves Genel with notice to terminate two gas contracts

Genel Energy says it will dispute the notice to end production sharing contracts at Bina Bawi and Miran.

Aug 3, 2021

July oil exports and revenues climb

With OPEC-plus pressure easing, Iraq increased exports slightly in July while higher oil prices drove monthly revenues to a 19-month high.

Jul 30, 2021

Q&A: Oil Minister Ihsan Ismaael

Iraq’s oil chief discusses negotiations with Total and Chevron, arbitration with Exxon, the future of INOC, several gas project updates, and budget talks with the Kurdistan region.