Energy

Chevron eyes Lukoil’s Iraq assets

The American company is emerging as the leading contender for the 480,000 bpd West Qurna 2 field as U.S. sanctions appear to be squeezing Lukoil out of Iraq.

Iraqi Prime Minister Mohammed Shia al-Sudani (center) and Oil Minister Hayyan Abdulghani (center-right) meet with a delegation from Chevron in Baghdad on Dec. 10, 2025. (Photo credit: Oil Ministry)

Dec 22, 2020

Facing financial crunch, Iraq boosts November production

Despite ongoing OPEC-plus efforts to limit global supply, Iraq increased oil output as the government desperately seeks revenue to narrow record deficits.

Dec 9, 2020

Khabbaz wells burn as security in northern oil sector worsens

Detonations at two wells early Wednesday are the latest example of inadequate security across northern Iraq.

Dec 9, 2020

Sarqala field stops trucking as Kurdistan protests expand

Field is not under threat. Decision by Gazprom Neft protects 100-plus daily tanker trucks exporting the crude.

Dec 1, 2020

Iraqi oil exports fall as OPEC scrutiny rises

Countrywide exports of 3.143 million bpd suggest Iraq has reduced output, with OPEC-plus members insisting on full quota compliance as they consider extending cuts.

Nov 23, 2020

UPDATE: Iraq seeks pre-payment for oil exports

A new proposal from SOMO asks crude buyers to pay up front for a year's worth of exports to secure a 5-year supply — part of Iraq's response to a cash-flow crisis.

Nov 17, 2020

Iraq sets new specifications for Basra crude marketing

SOMO is using the launch of its new Basra Medium crude grade as an occasion to revamp the specifications for its flagship Basra Light and Basra Heavy, too.

Nov 12, 2020

October production rises 4% despite OPEC-plus quota

Iraqi crude output increased by 150,000 bpd as the Oil Ministry struggles to balance between meeting OPEC obligations and addressing a severe cash shortage.

Nov 6, 2020

Q&A: Marfaa Kadhim al-Assadi, deputy director of Basra Gas Company

Now that Shell personnel have returned, BGC is focused on resuming delayed projects to turn more flared gas into electricity and revenue for Iraq.

Nov 4, 2020

KDP-PKK conflict intensifies near Kurdistan oil fields

An attack near the Swara Tika and Atrush oil fields comes a week after a pipeline explosion blamed on the PKK, and as Turkey pressures leaders in Erbil and Baghdad to confront the guerrilla group.

Nov 2, 2020

Export increase gives Iraq more oil revenues despite price drop

Federal Iraq exports increase by more than 250k bpd and KRG posts slight decline.