Oil’s Fragile Peace Is Threatened by Iraq’s Desperate Reality
In his 20 years as a high-school English teacher in Baghdad, Abu Majeed has seen his fair share of conflict and upheaval. Yet, he’s rarely felt so desperate as one Continue Reading
Shell evacuation reveals cracks in Basra Gas Company consortium
Protests that prompted an emergency evacuation in May were caused by a breakdown in payments and cooperation between Shell and its government partners. After cutting output less than anticipated, Iraq Continue Reading
Loathe to cut oil production from the start, Iraq draws OPEC+ fire for its quota busting
Ever since OPEC teamed with Russia and other allies in late 2016 to tackle a global oil glut through production cuts, Iraq has been a reluctant participant, repeatedly flouting its Continue Reading
Did Iraq Just Doom The OPEC Deal?
OPEC is in negotiations with its members to find the best way forward, but talks appear to have stalled over one laggard, Iraq, which has failed to live up to Continue Reading
Iraq’s May exports exceed its OPEC production quota
Iraq’s nationwide exports exceeded its OPEC production quota in May, prompting the country’s acting oil minister to promise further cuts. “Despite Iraq’s severe financial constraints, we’re addressing technical issues that Continue Reading
Iran signs 2-year pact to export electricity to Iraq
Highlights Previously, both signed a one-year agreement Iraq paid $400 mil, or half of cost of electricity supply US extends Iraq’s sanctions waiver for Iranian electricity on May 7 Tehran Continue Reading
OPEC’s Second Largest Producer Won’t Give Up On Output Cuts
OPEC’s second-largest producer and the biggest laggard in the output cuts, Iraq, will further reduce production and remains committed to the OPEC+ pact, Iraqi Deputy Prime Minister and acting Oil Continue Reading
Iraq’s oil exports fall 6.6% in May as OPEC producer sold oil at $21/b: ministry
Iraq’s oil exports, excluding those from the semi-autonomous Kurdish region, fell 6.6% in May, according to the oil ministry, indicating that OPEC’s second-biggest oil producer may have struggled to cut Continue Reading
Russia To Expand Influence In Iraq’s Oil Heartland
With Rosneft having effectively taken control of Kurdistan’s oil and gas sector in northern Iraq through the deal done in November 2017, Russia had been looking to leverage this presence Continue Reading
Iraq’s oil-rig count tumbles after IOCs ordered to cut spending on oil plunge
Iraq’s oil-rig count has tumbled by almost two-thirds this year after international oil companies were ordered to cut spending because of the oil crash and OPEC’s second-largest producer agreed to Continue Reading