Instead of seeking an IOC to replace Shell, the Oil Ministry is relying on Basra Oil Co. - and foreign service subcontractors - to develop Majnoon.
Crude flows are increasing from the federal North Oil Company in Kirkuk to KAR Group's refineries in Kurdistan, despite political obstacles arising from Baghdad-Erbil disputes.
Incremental gains from southern fields have helped Iraq partially recover from temporary production stoppages at Bai Hassan and Avana.
Iraq had attempted to pair the Nassiriya oil field and refinery projects to lure investors, but now the state-run DQOC will develop the field on its own, ending negotiations with a Chinese consortium.
A memorandum of understanding promises to re-start BP's reservoir studies, and could lead to a long-term development deal.
New efforts to charge consumers for power could reduce consumption, increase state revenues, and alleviate budget pressures – but they are proving a very hard sell.
Despite a non-binding Parliament vote, the ministry indicated it will take a practical approach to continue working with the Iraqi Kurdish company enmeshed in northern Iraq's oil sector.
The non-binding directive against the Iraqi Kurdish oil firm KAR Group further weakens the prospect of renewed Baghdad-Erbil oil cooperation.
Among the companies pre-qualified for new fields and blocks are at least eight with activities in Kurdistan's oil sector.
Iraq to sign with Orion Gas Processors to halt flaring and monetize associated gas at state-run field.
