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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)
Dec 4, 2015

Q&A: SOMO’s Falah Alamri

The head of Iraq's oil marketing authority touts the market's embrace of the new Basra Heavy crude blend, which will account for most of the country's upcoming export growth.

Dec 2, 2015

Iraq shatters export records

In combination, Iraq's federal government and Kurdistan region exported about 4 million bpd last month, but both governments still face crippling cash shortages.

Nov 26, 2015

Iraq budget moves toward passage

Despite some spending cuts, MPs across the political spectrum criticize the budget for its unrealistic expectations, but also expect it to pass.

Nov 10, 2015

Occidental plans Iraq exit

American oil company Occidental Petroleum has formally notified the Oil Ministry it plans to withdraw from the Zubair project.