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.
Iraqi production rises in 2025 as OPEC-plus eases quotas
Nationwide output increased year-on-year as Iraq's domestic refineries continued providing an elastic and expanding source of demand.
Iraqi Prime Minister Mohammed Shia al-Sudani speaks at an opening ceremony for the Karbala refinery on April 1, 2023. (Photo credit: Prime Minister's Office)