Energy

BP deal aims to revamp Kirkuk energy sector

Iraq is once again leveraging upstream development to finance gas and power projects.

Iraqi Prime Minister Mohammed Shia al-Sudani (standing, center), BP CEO Murray Auchincloss (standing, left), and Oil Minister Hayyan Abdulghan (standing, right) oversee the signing of a deal for BP to rehabilitate Kirkuk oil fields and build gas processing and power generation infrastructure at a ceremony in Baghdad on March 26, 2025. (Photo credit: Prime Minister's Office)

Jul 8, 2020

Protest disrupts Halfaya operations and local power supply

Financial constraints and OPEC cuts led to oil sector layoffs and protests that briefly shut down access to Missan province's largest field.

Jul 2, 2020

Iraq exports plunge toward OPEC compliance

Countrywide oil sales dropped by 11 percent, but higher oil prices – buoyed by an OPEC-plus quota agreement – yielded monthly revenue gains.

Jun 15, 2020

Iraq questions fairness, but closes in on OPEC-plus target

Production cuts and falling exports move Iraq closer to OPEC-plus quota compliance.

Jun 12, 2020

Low prices and payment delays reverse two-year expansion of Kurdistan’s oil sector

The KRG's production is falling as cash flows dry up and companies pare back investment.

Jun 11, 2020

Despite big cuts, Iraq fails to meet OPEC quota

Major reductions totaling almost 200,000 bpd were not nearly enough to bring Iraq's May production in line with an OPEC-plus agreement.

Jun 4, 2020

Shell evacuation reveals cracks in Basra Gas Company consortium

Protests that prompted an emergency evacuation in May were caused by a breakdown in payments and cooperation between Shell and its government partners.

Jun 4, 2020

Basra oil chief nominated as oil minister

Ihsan Ismaael, head of the Basra Oil Company, has been tapped to lead Oil Ministry pending vote in Parliament.

Jun 3, 2020

Iraq’s May exports exceed its OPEC production quota

After cutting output less than anticipated, Iraq promises further moves to reduce production and bolster global prices.

May 22, 2020

Baghdad offers Kurdistan payment tied to budget talks

Letter from Iraqi finance minister to KRG prime minister offers a one-time, $338 million payment – and continuing negotiations for a new budget deal.

May 21, 2020

Financial free fall threatens Kurdistan’s stability, oil sector

In an era of depressed oil prices and budget disputes, the KRG has lost most of the revenue that underwrites its economy, and has no clear plan for bridging its deficits.