Iraq
News
December 13, 2021
Halliburton Co. denied reports that it’s in talks to buy Exxon Mobil Corp.’s stake in the huge West Qurna-1 oil field in southern Iraq.
News
November 11, 2021
OPEC+ is focused on ensuring a steady supply of crude to global markets and isn’t targeting a specific price, Iraqi Oil Minister Ihsan Abdul Jabbar said Thursday.
News
November 01, 2021
Exxon Mobil Corp.’s multiyear effort to extricate itself from a groundbreaking Iraqi oil deal may hinge on the involvement of one of the world’s biggest frackers.
News
October 29, 2021
A daily increase of 400,000 barrels in oil output would be enough to meet demand, according to Iraqi Minister Ihsan Abdul Jabbar.
News
September 21, 2021
OPEC and its allies can likely continue reviving oil production, two key Middle East members said as the group prepares to consider its next supply hike.
News
September 14, 2021
Iraq cut the price of its banner crude for U.S. customers sharply, a bold deviation from what Saudi Arabia chose to do with its own barrels just a few days ago.
News
September 02, 2021
The Organization of Petroleum Exporting Countries lifted output by 290,000 barrels a day, slightly more than stipulated by its road map for restoring output, according to a survey. Saudi Arabia and Iraq were the main drivers of the increase.
News
August 27, 2021
Iraq’s regional allies stressed the need to provide support to an OPEC member struggling to rebuild after decades of ruinous wars, in a conference that also afforded a platform for meetings between longtime rivals.
News
August 25, 2021
BP and PetroChina formed a joint venture to manage the giant Rumaila field in Iraq, an operating structure the British oil major has adopted in other parts of the world as it focuses on the energy transition.
News
July 30, 2021
Russia’s Lukoil PJSC is retracting its decision to sell its stake in West Qurna-2 field in the south to Chinese companies, according to Iraqi state-run newspaper Al-Sabah.
News
July 27, 2021
Proserv Controls has secured a significant contract to manufacture and deliver 22 wellhead control panels to the Basra Oil Company for use on the Majnoon Oil Field in southern Iraq.
News
July 23, 2021
Iraq is spending billions of dollars to ramp up gas production and reduce its reliance on imports from Iran, which it uses primarily to power its electricity plants.
News
July 05, 2021
BP Plc and Russia’s Lukoil PJSC want to sell down their assets in Iraq, according to the country’s oil minister.
News
April 15, 2021
Iraq’s oil ministry took the unusual step of saying it’s in talks with U.S. companies about the possibility of them buying Exxon’s 32.7% stake in the field in southern Iraq, near the city of Basra.
News
March 26, 2021
Iraq is discussing a deal with Total SE to build large infrastructure installations, develop oil fields and produce gas, Oil Minister Ihsan Abdul Jabbar told Asharq News, saying “the agreement is giant, and the volume of the investment exceeds $7 billion.”
News
March 18, 2021
The facility which Petrofac will continue to manage is one of the largest in the Gulf, and handles around 55% of Iraq’s crude oil exports.
News
February 20, 2021
A robust recovery in demand from the Covid-19 pandemic had pushed prices to the highest settlement in more than a year last Wednesday, and Goldman sees the rally accelerating as consumption outpaces supply from OPEC and shale.
News
February 20, 2021
Prepayment deals are rare in the oil world and this was meant to improve Iraq’s financial situation. While the government is still struggling, its position has improved on soaring oil prices, largely thanks to the rollout of coronavirus vaccines.
News
February 19, 2021
Ten months after slashing crude production when Covid-19 crushed global demand, OPEC and its allies are still withholding 7 million barrels a day from the market. It's been a sacrifice, and now the group must chart a path forward that won't erase hard-fought oil price gains.
News
February 18, 2021
Baghdad pledged to pump below its quota in February to make up for past overproduction. Still, the pace of its crude exports in the first half of the month, if maintained through the rest of February, indicates the country may exceed its self-imposed production target of 3.6 million barrels a day and perhaps even its OPEC+ cap of around 3.85 million.
News
February 17, 2021
“I must warn once again against complacency,” Energy Minister Prince Abdulaziz bin Salman said on Wednesday at an online conference held by the International Energy Forum in Riyadh. “The uncertainty is very high and we have to be extremely cautious. The scars from the events last year should teach us caution.”
