Iraq
News
October 20, 2020
While it expects for now to keep output levels unchanged, Lukoil will “soon” submit proposals to Iraqi authorities to develop a separate area in the south known as Block 10.
News
August 18, 2020
While any production would likely be years away, the California-based oil major is looking to use this year’s crude price crash to gain access to quality reserves cheaply, while European rivals are focusing on a transition to low-carbon energy sources and Exxon Mobil Corp. is reining in spending.
News
August 12, 2020
The prospects for petrostates have dramatically shifted from just a decade ago. Oil prices were near $100 a barrel then and consumers were worried about supplies running out. Now, OPEC is increasingly having to reckon with the prospect of peak demand, when consumption starts to decline as wind and solar power become more popular.
News
August 07, 2020
Iraq made its strongest commitment yet to implement deep cuts in crude production after the country’s oil minister and his Saudi counterpart held a phone call Thursday.
News
July 14, 2020
Weatherford International signed an 18-month contract with the Iraqi Drilling Company to provide services and project management for the drilling and completion of twenty wells in the Al-Nasiriyah field in the Dhi Qar province in southern Iraq.
News
July 13, 2020
Saudi Arabia commended Iraq for implementing almost all of its oil production cuts last month, another sign that the disputes over cheating that dominated recent meetings are being resolved.
News
July 10, 2020
“It’s true that our output is low because of cruel and illegal sanctions, but things won’t stay the same,“ Oil Minister Bijan Namdar Zanganeh said in a speech broadcast on state television. “We need to increase our production capacity to be able to return to the market in full force and restore our share whenever necessary.”
News
June 12, 2020
Iraq has asked BP to cut crude production at the nation’s biggest field of Rumaila by 10% as part of a push to comply with OPEC+ quotas, according to a person familiar with the matter, who asked not to be identified as the matter is private.
News
June 01, 2020
OPEC’s delivery of its latest oil-production cutbacks, while strong overall, was undermined by its habitual laggards.
News
May 28, 2020
The confirmation of the contract extension is recognition of Petrofac’s successful seven-and-a-half-year track record of safe and efficient delivery and ability to sustain and improve export levels as incumbent operations and maintenance service provider.
News
May 15, 2020
Despite skepticism over the efficacy of the measures unveiled in mid-April by Saudi Arabia, Russia and their partners, compared to the immense hit to demand, the impact has been substantial. Oil prices have recovered by 60% in the past three weeks, as a pick-up in fuel use is complemented by the supply cuts.
News
May 06, 2020
From Nigeria to Venezuela and Iraq, petrostates are facing the same challenge -- maintaining their economies while their prized commodity is worth a much less than it was, and where private companies often still want their cut.
News
March 24, 2020
With OPEC’s output limits suspended and a price war under way, the group’s biggest oil producers are preparing to churn out more barrels to protect market share.
News
January 17, 2020
Oil gained in Asian trading Monday following supply disruptions and political instability in key producers Libya and Iraq.
News
January 16, 2020
Oil supplies from Iraq, the Middle East’s second-biggest producer, are “potentially vulnerable” amid rising political risks in the country and the broader region, the International Energy Agency warned.
News
January 08, 2020
Oil’s rally faded as the U.S said Iranian airstrikes on military bases in Iraq didn’t cause any casualties, reinforcing speculation that Tehran is opting for limited retaliation over the killing of a top general.
News
January 07, 2020
Reports of the attacks reignited fears that Iran’s promised retaliation against the U.S. killing of a top general last week will spark a wider conflict in the Middle East that could disrupt global oil supplies.
News
January 06, 2020
Oil buyers in Asia are increasingly wary that Iraq’s entanglement in the worsening dispute between the U.S. and Iran could disrupt shipments from one of their key Middle East suppliers.
News
January 06, 2020
Futures jumped by another 1.4% on Monday as the U.S. State Department warned of a “heightened risk” of missile attacks near military bases and energy facilities in Saudi Arabia.
News
January 03, 2020
“We should all be bracing for a ferocious response,” said Helima Croft, chief commodities strategist at RBC Capital Markets. “The stage is set for a retaliatory spiral that could keep markets on edge well into 2020.”
News
January 03, 2020
Brent futures surged by more than 4% in busy trading on Friday to levels not seen since the attacks on Saudi Arabia’s oil facilities in September.
