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)

Nov 23, 2016

Ruined by war, Qayarah refinery could rise again

Before they were driven out of Qayarah, IS militants destroyed a refinery that powered the economy of Ninewa province. Now, it's a focal point in efforts to rebuild.

Nov 14, 2016

Iraq sustains high crude output in October

Estimates show Iraq is producing and exporting oil at near-record levels ahead of OPEC quota discussions.

Nov 11, 2016

Oil Ministry pauses plan to contract 12 fields

Iraq had invited IOCs to bid on new development deals. But now state companies will handle some of those fields, and Iraq will delay contracting others until next year.

Nov 10, 2016

Kurdistan oil revenue rebounds despite export dip

Even with higher oil prices and advance payments from oil traders, revenues still fall short of KRG budget needs.

Nov 9, 2016

Q&A: NOC chief Farid al-Jadir

To raise output from its fields, the state-run North Oil Company needs to contend with a trifecta of security, financial, and political crises.

Nov 8, 2016

Iraqi Parliament starts oil corruption investigation

MPs begin looking into alleged bribery scheme following international media reports implicating former oil ministers.

Nov 7, 2016

Iraq pursues scaled-down water injection project

Oil minister tasks SOC with implementing long-delayed infrastructure project, necessary for Iraq to achieve future oil production gains.

Oct 28, 2016

Choking on oil fires, Qayarah strains to recover

After a scorched-earth retreat toward Mosul, IS militants leave behind a public health crisis and a population reeling from two years of brutality.

Oct 24, 2016

Iraq shops 12 new oil field contracts

Oil Ministry pursues negotiations with IOCs on new oil projects - a warning shot at OPEC members seeking to impose quotas.

Oct 7, 2016

Payback to oil traders cripples KRG’s finances

September oil sales increased by one-third, but net revenues fell again as trading houses recouped debts and did not make new loans.