Energy

Iraq seeks backup options for West Qurna 2

As a sanctions deadline looms, Basra Oil Company is poised to manage the 480,000 bpd field while Lukoil continues negotiating to sell its stake.

A ceremony at the West Qurna 2 oil field in Basra to mark the opening of two new well complexes on June 1, 2023. (JASSIM AL-JABIRI/Iraq Oil Report)

Mar 29, 2017

UPDATE: At critical Kurdistan field, reserves fall again

It was the flagship project of Genel Energy, one of the KRG's lynchpin oil partners. Now the company says Taq Taq is less than 10 percent the size that was once advertised.

Mar 28, 2017

Basra oil terminal damaged in tanker accident

Exports are stable and no serious injuries were reported after one berth of the al-Basra Oil Terminal was badly damaged by a collision with a massive oil tanker.

Mar 13, 2017

Q&A: Oil Minister Jabbar al-Luiebi

Iraq's Oil Minister is bullish on the country's production targets setting another record this year.

Mar 10, 2017

Oil Ministry confirms February export decline

Newly released official data for January and February show reduced federal oil sales – more evidence of Iraq's efforts to comply with an OPEC quota agreement.

Mar 10, 2017

Kirkuk oil crisis subsides as PUK faction withdraws

"Black Force" special police left key energy sites in Kirkuk, but the political tensions that produced the dramatic showdown remain unresolved.

Mar 7, 2017

Oil Ministry releases new Basra refinery details

The prospective 300,000 bpd facility, located in the Fao area, would produce fuels for export - a proposition that could pique investor interest.

Mar 7, 2017

PUK faction seizes more Kirkuk energy infrastructure

"Black Force" special police took over the North Gas Company headquarters Sunday, and continue to occupy the IT-1 station, as tensions over Kirkuk energy resources escalate.

Mar 2, 2017

UPDATE: Armed political faction interrupts Kirkuk exports

The "Black Force" special police unit of the PUK party briefly took over Kirkuk's IT-1 facility - a sign of deteriorating intra-Kurdish political rivalries.

Mar 1, 2017

February exports fall sharply

Oil sales are down by about 5 percent since January, as Iraq cuts production to comply with an OPEC agreement and diverts some crude flows to domestic refineries.

Feb 28, 2017

Inside the black heart of IS’s oil sector

On the Mosul outskirts, the IS group's Iraqi oil refining hub – recently seized by Iraqi forces – shows how the militants used savvy management to fuel their killing machine.