Falling export volumes suggest Iraq is following through on promises to make extra production cuts in support of an OPEC-plus effort to support global prices.

The Basra Oil Company is attempting to take over oil tanker escort management from the Transportation Ministry’s ports company.

Chevron would negotiate a joint venture with Iraqi state companies for exploration rights in southern Iraq — a deal that could set a positive tone during a state visit to Washington.

Iraq shaves 200,000 bpd since June, as the Oil Ministry promises compliance with OPEC-plus.

Following payment disputes and volatile protests that prompted the Basra Gas Company's expat staff to evacuate, Shell and Iraq's South Gas Company are bringing in new leadership as they attempt to reconcile.

Reduced crude sales reflect ongoing efforts to comply with an OPEC-plus quota agreement, which has helped support global prices and Iraqi earnings.

The field will initially target 50,000 bpd – about half the production level it averaged before shutting down amidst the coronavirus pandemic.