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News from Iraq Oil Report

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Top Iraq Oil Report News

Iraq Seals Major Oil Deal with Chinese Company
Oil and Gas Sector · Iraq

Iraq Seals Major Oil Deal with Chinese Company

34% Center coverage: 3 sources
Iraq’s government has signed a deal with Chinese Geo-Jade Petroleum to expand production at the Tuba oil field, build a refinery and two power plants. Per an AFP report, the deal will also involve the construction of a petrochemicals facility and a fertilizer plant. The refinery that Geo-Jade Petroleum will build will have a capacity of 200,000 barrels daily. One of the power plants will have a capacity of 650 MW and the other, a solar power fac…See the Story
Iraq's May oil exports decrease in nod to OPEC-plus commitments
Oil and Gas Sector · Iraq

Iraq's May oil exports decrease in nod to OPEC-plus commitments

Exports fell by 87,000 bpd month-on-month as Iraq signaled its intention to adhere to production pledges and support global oil prices.Read Article
Baghdad threatens to choke off KRG funding
Erbil · Erbil

Baghdad threatens to choke off KRG funding

Political tensions skyrocket after recently announced gas deals, resulting in legal challenges and threats to Kurdistan's budget.Read Article

Q&A: Farhan al-Fartousi, director general of the General Company for Ports of Iraq

Iraq is expanding its port capacity, including a fast-track project to import liquefied natural gas in time for this summer's peak electricity demand season.Iraq · IraqRead Article

OPEC+ Production Fell in April Despite Pledge to Start Hiking Output

Coverage: 2 sources
All the countries in the OPEC+ pact saw their combined crude oil production drop by 106,000 barrels per day (bpd) in April compared to March, despite the pledge of the eight OPEC+ producers who are withholding supply to begin easing their cuts. OPEC+ producers Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman have decided to begin raising production in April, for the first time since 2022. The figures in OPEC’s Monthly Oil M…OPEC+See the Story

Q&A: Hassan Mohammed Hassan, director general of the Iraqi Drilling Company

The new leader of Iraq’s state-run well drilling firm discusses plans to expand its rig fleet and increase revenues.Iraq · IraqRead Article

A Long Time in Finance: Iraq, Minerals and the Art of the Deal

In the wake of Donald Trump's demand for a juicy minerals deal in Ukraine, Neil and Jonathan join author James Barr to look at the history of possibly the greatest minerals carve-up of all time - in the post-First World War Middle East - and ask the key question: "How did that all work out?"Listen hereBP · IraqSee the Story

March production rises on Rumaila recovery

Iraq’s biggest oil field has recovered from a January fire, boosting nationwide output but posing a challenge to OPEC-plus quota compliance.Iraq · IraqRead Article

Iraq terminates Akkas contract, drawing legal threats

Cabinet taps state-run Midland Oil Company as operator for fast-track gas field development with help from SLB, but contentious ouster of Ukrzemresurs could spark litigation.Iraq · IraqRead Article

Strategic water project makes progress, helped by Chinese financing

A China-Iraq finance program is set to provide billions of dollars for a seawater supply project that promises to enable a transformational increase in Iraq's oil production.Iraq · IraqRead Article

Reuters Survey Shows OPEC Output Down 110,000 Bpd in March

100% Center coverage: 1 sources
A Reuters survey on Monday showed OPEC oil output falling in March, driven primarily by drops in supply from Nigeria, Iran and Venezuela.  OPEC pumped 26.63 million barrels per day in March, or 110,000 bpd less than February, according to the survey.  Nigeria, Iran, and Venezuela each saw a drop in March output of 50,000 bpd.  Nigeria is still pumping just above its OPEC quota, but in March, the country reduced supply to its new Dangote refinery…SanctionsSee the Story

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