Turkish company shuts down floating power stations in a second attempt to recoup $85 million in debts.
Lower prices and a huge cut in advances from oil traders cause monthly oil proceeds to fall by $90 million, while most oil companies remain unpaid for July production.
After a two-month decline, federal oil export levels rebounded, but overall revenues fell along with global oil prices.
Project would improve the quality and quantity of output from Shuaiba refinery, reducing the financial strain of fuel imports.
Private-sector leaders and government officials in Erbil, Baghdad and Kirkuk are negotiating a plan that would unlock oil production currently tied up in political disputes.
Increased gas processing capacity has generated surplus fuel, opening the door for exports and badly needed revenue streams.
First pipeline problem in over two months causes throughput to drop, but Kurdistan looks ahead to production hikes the rest of the year.
Iraqi oil earned more than $40 per barrel for the first time since September, a helpful boost as exports have dropped nearly 200 thousand bpd in two months.
Gov. Majid al-Nasrawi said he would expropriate floating power stations after Karkey Company briefly shut off electricity supply over $85 million in unpaid bills.
IOCs are investing enough to boost Iraq's overall output despite tight budgets, but short-term fixes are masking fundamental issues that could undermine medium-term growth.
