Just weeks ago, U.S. energy giant ExxonMobil looked poised to move ahead with a $53 billion project to boost Iraq’s oil output at its southern fields, a milestone in the Continue Reading
A rocket hit a site in southern Iraq used by foreign oil companies on Wednesday, including U.S. energy giant ExxonMobil, wounding three people and threatening to further escalate U.S.-Iran tensions Continue Reading
Katyusha rockets struck two oil sites in Basra on Wednesday, raising fears that tensions between the U.S. and Iran could destabilize Iraq’s oil sector. While nobody has claimed responsibility for Continue Reading
Premiums for Iraq’s Basrah Heavy crude grade fell sharply this month as Chinese demand for the grade dimmed on lower refinery run rates, traders said on Thursday. A spot tender Continue Reading
Iraq is looking to draft contingency plans in case the heightened tension in the Middle East results in some kind of blockade of Iraq’s oil exports through the Persian Gulf—a Continue Reading
As tensions soared Friday between the United States and Iran, Iraqis weighed the prospect that their country would once again become a battleground for the two rivals. The recent military Continue Reading
Russia’s Lukoil has presided over a major discovery at Iraq’s exploration Block 10, raising new expectations of ultimately producing over 300,000 barrels per day (bpd) from the Eridu field. Preliminary Continue Reading
Despite an OPEC quota, output is rising. Iraq increased crude output in May by about 234,000 barrels per day (bpd), reversing a months-long trend of production cuts to meet OPEC Continue Reading
U.S. sanctions on Iran’s oil industry were bound to be good news for fellow OPEC producers in the Middle East even if it wouldn’t have been good manners to acknowledge Continue Reading
Small-scale demonstrations at three oil installations raise the specter of last summer’s destabilizing protest movement. Protesters march in Burjisiya, near the Zubair oil field, on July 31, 2018. (ALI AL-AQILY/Iraq Continue Reading
