Highlights Iraq aims to generate 20-25% of energy from renewables Country suffers from electricity shortages, especially in summer Also seeks to lower oil volumes used for power generation Iraq has Continue Reading
Highlights Basrah Medium grade to benefit from higher OPEC+ quota New grade most popular out of three Basrah crudes Iraq working to defend market share in India Iraq’s State Oil Continue Reading
Deadly conflict between the separatist Kurdistan Workers’ Party (PKK) and the dominant ruling party of Iraqi Kurdistan is threatening to shatter an informal truce that has largely kept the peace Continue Reading
News last week that U.K. oil super-major, BP, is working on a plan to spin off its operations in Iraq’s supergiant Rumaila oil field into a stand-alone company had an Continue Reading
KRG Prime Minister Masrour Barzani (right) receives Iraqi Prime Minister Mustafa al-Kadhimi (left) in Erbil on September 10, 2020. (Photo credit: Kurdistan Regional Government) The leaders of Iraq’s federal government Continue Reading
Iraq’s Oil Ministry is sitting on roughly 1 million bpd of capacity — and developing more — as OPEC quotas begin to ease. Iraqi Oil Minister Ihsan Ismaael (center right) Continue Reading
BP Plc (BP.L) is planning to spin off its operations in Iraq into a standalone company, the Wall Street Journal reported on Friday, as the oil major looks to shift Continue Reading
Iraq’s oil sector is rebounding after a catastrophic year triggered by the coronavirus pandemic, with key investment projects on the horizon, Iraq’s oil minister said Friday. But he also warned Continue Reading
Rick Vierbuchen (R), then president of ExxonMobil Upstream Ventures, shakes hands with Abdul Mahdy al-Ameedi, the director general of the Oil Ministry’s Petroleum Contracts and Licensing Directorate (PCLD), after signing Continue Reading
Given the U.S.’s broad scaling-down of its on-the-ground operations in the Middle East over the past five years, a specific function of which is ExxonMobil’s intention to sell its stake Continue Reading
production has resumed at the Qayarah heavy oil field in Ninewa province after a 14-month shut-in due to protests at export terminals, OPEC-plus output restrictions, and disputes over crude transport, Continue Reading
Iraqi oil exports in May averaged 3.336 million barrels per day (bpd), according to Oil Ministry and industry data — a slight decline from April for both the federal government Continue Reading
Since the fall of Saddam Hussein in 2003, Iraq has played the main powers in the Middle East off against each other – the U.S. axis focused on Saudi Arabia Continue Reading
Highlights Cabinet calls on oil ministry to conduct ‘appropriate’ study Some politicians have called for changes in financial terms of contracts Oil majors operate some of Iraq’s biggest fields Iraq Continue Reading
Iraq plans to complete this year the construction of a new oil pier in its key fuel export and import facility in order to raise trade in refined oil products Continue Reading
The Iraqi federal government and the semi-autonomous Kurdistan Regional Government (KRG) have established three joint coordination centers in an effort to improve cooperation between their respective security forces and close Continue Reading
April oil production was 3.39 million b/d Domestic crude 13% higher than earlier estimate Iraq has busted its quota since February Iraq, OPEC’s second largest producer, has revised upward its Continue Reading
Some $150 billion in oil revenues has been stolen and smuggled out of Iran since the fall of Saddam Hussain in 2003, the president of Iraq said, as quoted by Continue Reading
Workers measure the pressure at the Central Processing Facility at the Tawke oil field in Iraqi Kurdistan in August 2012. (SEBASTIAN MEYER/Metrography/Iraq Oil Report) A decision by the Kurdistan Regional Continue Reading
Iraq has rejected ExxonMobil’s effort to sell its stake in the West Qurna 1 oil field to two Chinese companies, raising a cloud of uncertainty and potential conflict over a Continue Reading
A power plant fired by associated gas from the Sarqala oil field is nearing completion, in a sign that Iraq’s semi-autonomous Kurdistan Regional Government (KRG) is taking practical steps towards Continue Reading
Recent news reports were replete with Iraq declaring its willingness to invest $15 billion into new gas-focused projects that could reduce its reliance on one of Baghdad’s long-standing problems, its Continue Reading
The killings take place in public and are captured on surveillance footage. Those videos are then watched by millions. But even if the gunmen are identified, no one is prosecuted, Continue Reading
A resurgent Iran pumped its largest volume of crude in almost two years in April, while an increasingly compliance-challenged Russia also boosted its output yet again, bringing total production by Continue Reading
Iraq has extinguished a fire at a second well in Bai Hassan oil field in the Kirkuk region that was set on fire after an explosive attack on May 5, Continue Reading
Insurgents bombed two oil wells at Kirkuk’s Bai Hassan field and killed at least one guard on Wednesday — the latest sign that energy infrastructure remains vulnerable as the self-proclaimed Continue Reading
Iraq’s Bai Hassan oil field in the northern Kirkuk region was attacked by explosives on May 5 causing two wells to catch fire and leaving casualties, the oil ministry said, Continue Reading
Iraq posted a slight increase in oil sales last month, around 21,000 barrels per day (bpd) more than in March, but revenues fell by about 5 percent as global crude Continue Reading
Iraq is in talks with ExxonMobil to take over its 32.7% stake in West Qurna 1, the country’s oil minister said May 3, as the US major seeks to exit Continue Reading
Iraq could buy ExxonMobil’s 32.7-percent stake in one of the largest oilfields in OPEC’s second-largest producer, West Qurna 1, Bloomberg quoted Iraq’s oil minister Ihsan Abdul Jabbar Ismaael as saying Continue Reading
At least three rockets hit the Iraqi military air base of Balad, north of Baghdad, where some U.S. contractors are billeted, Iraqi security officials said on Monday. Three other rockets Continue Reading
Iraq’s Parliament votes for an emergency 12 trillion ($10.2 billion) financing law on Nov. 12, 2020. (Source: Iraqi Parliament media office) BASRA – Oil Minister Ihsan Ismaael has filed an Continue Reading
irkuk exports from Turkish port fell 3.7% Iraq beached its OPEC+ quota in March Iraq’s quota will rise to 3.905 million b/d in May Dubai — Iraq’s federal oil exports, Continue Reading
Oil Minister Ihsan Ismaael has filed an official objection to several key provisions in Iraq’s 2021 national budget law, including problems that would result in payment delays for oil companies. Continue Reading
The China Petroleum & Chemical Corp. (Sinopec) last week signed a 25-year deal with Iraq’s Ministry of Oil that gives it a 49 per cent stake in the Mansuriya non-associated Continue Reading
Nationwide oil output fell by 100,000 bpd, but the Oil Ministry is poised to bring new production online as OPEC quotas look set to ease. A Basra Oil Company worker Continue Reading
After signing a Heads of Agreement with Total, Iraq is entering a difficult phase of negotiation over the contracts that would govern the multi-billion-dollar, multi-faceted energy investment. In a statement Continue Reading
Iraq aims to finalize the sale of Exxon’s stake in the West Qurna-1 oil field by the end of June even after rival U.S. supermajor Chevron Corp. rejected overtures to buy the Continue Reading
Iraq’s Oil Minister, Ihsan Abdul-Jabbar, announced last week that the country plans to increase its oil production capacity to 8 million barrels per day (bpd) by 2029, compared to current Continue Reading
ExxonMobil is attempting to sell its stake in the West Qurna 1 oil field to two Chinese companies, setting an end-April deadline that has prompted fraught negotiations with the Oil Continue Reading
Sinopec to develop eastern Mansuriyah gas field Iraq wants to boost gas output amid Iranian imports Most gas production is pumped with oil Iraq awarded Sinopec a contract to develop Continue Reading
Militants using explosives attacked two oil wells northwest of Kirkuk in northern Iraq on Saturday but no significant damage resulted and production was not affected, the Iraqi oil ministry said. Continue Reading
Iraq is in talks with US energy companies to find potential buyers for ExxonMobil’s 32.7% stake in West Qurna 1, the state-owned Iraqi News Agency reported citing an April 15 Continue Reading
Sign up for our coming Middle East newsletter and follow us @middleeast for news on the region. Iraq’s foreign reserves have risen to more than $60 billion, driven by the Continue Reading
The Sarqala oil field has restarted after a dispute within the Patriotic Union of Kurdistan (PUK) party led to the temporary shutdown of its 30,000 barrels per day (bpd) of Continue Reading
Iraq’s total crude exports in March, including flows from the semi-autonomous Kurdistan region, fell 0.8% month on month, data from the oil ministry and shipping reports showed, amid signs of Continue Reading
Official estimates are that Iraq’s proven reserves of conventional natural gas amount to at least 3.5 trillion cubic meters (tcm), or about 1.5 percent of the world’s total, placing Iraq Continue Reading
Iraq’s nationwide oil exports held steady in March, averaging 3.367 million barrels per day (bpd), * while revenues surged due to strong global crude prices. The increased revenue is a Continue Reading
Iraq’s Parliament votes for an emergency 12 trillion ($10.2 billion) financing law on Nov. 12, 2020. (Source: Iraqi Parliament media office) EDITOR’S NOTE: In recent weeks, multiple different versions of Continue Reading
Iraq’s Parliament votes for an emergency 12 trillion ($10.2 billion) financing law on Nov. 12, 2020. (Source: Iraqi Parliament media office) Iraq’s Oil Ministry has reviewed a version of a Continue Reading
