Pivoting away from negotiations with ExxonMobil, Iraq is now putting the Ratawi oil field at the center of a prospective upstream, gas, and power deal with Saudi Arabia.
New federal forces have deployed in a campaign to wrest control of border crossings from parties, paramilitary groups, and mafias.
While the country's output is still over its quota, Iraq has now cut more than 600,000 bpd compared to its first-quarter production average.
Without the legislation, Iraq would not have enough cash to pay public-sector employees.
The KRG's production is falling as cash flows dry up and companies pare back investment.
PM Mustafa al-Kadhimi has completed his 22-minister government, can focus on financial crisis and rising pandemic cases.
Ihsan Ismaael, head of the Basra Oil Company, has been tapped to lead Oil Ministry pending vote in Parliament.
Letter from Iraqi finance minister to KRG prime minister offers a one-time, $338 million payment – and continuing negotiations for a new budget deal.
In an era of depressed oil prices and budget disputes, the KRG has lost most of the revenue that underwrites its economy, and has no clear plan for bridging its deficits.
A top Basra oil leader reveals which fields are being cut under the new OPEC-plus deal and discusses how Iraq's financial squeeze is affecting BOC projects and planning.
