By settling with Dana Gas and partners, the Kurdistan region avoids tens of billions of dollars of potential liability and commissions massive new gas production within two years.
The first successful project from Iraq's third bidding round, in 2010, is on track to reach plateau production within five years.
A review of field and government data for July puts Iraq's nationwide oil fields at a five-month high.
Settlement of outstanding debt in exchange for assets is effectively a reset button for the Kurdistan oil sector, which is likely to quicken pace of production growth.
Kirkuk pipeline exports were briefly offline after IS militants bombed high-voltage power lines – one of a dozen insurgent attacks to hit northern Iraq in the past week.
IS militants are still stealing oil from wellheads in the mountains of Salahaddin province - in the process, unleashing a flood of oil that flows for miles.
Slight increase in independent KRG exports offsets small reduction in federal Iraqi exports.
After voicing opposition to the KRG's independence referendum, Iran contemplates a deal that could shift the balance of power in Iraq's disputes over territory and oil.
Iraq's Oil Ministry starts direct negotiations with PetroChina and CNOOC for a long-delayed, massive project to build a 150,000 bpd refinery and develop the Nassiriya field.
An independent analysis shows rising output from state-run fields in Basra lifted Iraqi production by nearly 100,000 bpd, as a monitoring committee meets and assesses OPEC quota compliance.
