Iraq ///

Iraq’s burgeoning crude exports become factor in OPEC policies

Iraq has quietly emerged as the world’s fourth-biggest oil producer and wants a bigger say in OPEC and the global energy game.

Companies in the news

Michele Cowart, World Oil

LUKOIL has commenced drilling new production wells at West Qurna-2 field as part of the second development phase.

Jordan to negotiate $1 billion debt-reduction loan, oil from Iraq to help boost economy

Jordan and the World bank are in $1-billion loan discussions to cut the cost of the Middle East country's debt repayments and revive an economy strained by more than a million Syrian refugees.

Gazprom Neft commissions third production well at Sarqala field

Gazprom Neft subsidiary Gazprom Neft Middle East B.V. has commissioned a third production well at its Sarqala field in the Kurdistan Region of Iraq (KRI).

Lukoil, INPEX have concluded testing in Iraq's Eridu field 5th well

Lukoil and INPEX Corporation have successfully completed testing of the fifth well as part of the appraisal phase at the Eridu field (Block 10) in the southern part of Iraq.

ADES International acquires onshore rigs from Weatherford

ADES International Holding PLC has announced that it has completed the acquisition transaction with Weatherford International plc and receipt of the final two onshore rigs in Algeria, and a further two rigs delivered outside of Southern Iraq for relocation to Saudi Arabia.

Dana Gas, Crescent Petroleum to boost Khor Mor gas production 63% within two years

Pearl Petroleum Company Limited has signed a new 20-year Gas Sales Agreement (GSA) with the Kurdistan Regional Government to enable production and sales of an additional 250 MMscfd.

Lukoil has confirmed Eridu field geological model

Lukoil has successfully completed testing of the fourth well as part of Eridu field (Block 10) appraisal phase in the south of Iraq.

Halliburton secures drilling contract from Eni Iraq

Halliburton Company has announced it has signed two contracts with Eni Iraq BV (Eni) to provide integrated drilling services at Eni’s Zubair oil field in Southern Iraq.

OPEC is in 'whatever it takes' moment to prop up oil prices

OPEC hasn’t even started implementing its new six-month agreement to cut output, and already members responsible for most of the reductions have pledged to extend or even deepen it.

Dana Gas, Crescent Petroleum report 30% increase in gas output in Kurdistan

Dana Gas, alongside its partner Crescent Petroleum, has announced achievement of a 30% increase in production capacity at Khor Mor field in the Kurdistan Region of Iraq, which the companies jointly operate on behalf of Pearl Petroleum.

OPEC, allies move closer to oil cuts as bear market adds urgency

OPEC and its allies started laying the groundwork to cut oil supply in 2019, reversing an almost year-long expansion, with Saudi Arabia reasserting its role as swing producer by announcing fewer shipments from next month.

Iraq to boost oil sales to China by 60%

Iraq aims to supply China with 60% more crude next year, according to the head of the state-run Oil Marketing Co.

Iraq's Kurds add pipeline capacity to export Kirkuk oil

Iraq’s semi-autonomous Kurds upgraded their oil export pipeline to accommodate future production from their region and from the contested Kirkuk area controlled by Baghdad.

Iraq's new oil minister pledges to pump more oil

Iraq will increase oil output and work with other OPEC nations to assure “fair” prices for buyers and producers, according to the nation’s new Oil Minister Thamir Ghadhban.

The world's fourth-biggest oil producer can't keep the lights on

Iraq is fast becoming a global oil powerhouse, gaining stature in OPEC after it surpassed Canada this year as the world’s fourth-biggest producer. But the war-ravaged country has little to show for its feat.

U.S. persuades Iraq to quash Siemens power deal in favor of GE

The Trump administration intervened to quash a $15 billion deal for Siemens Corp. to develop power stations in Iraq, instead persuading Baghdad to sign an agreement with General Electric Co., two administration officials said.

Iraq wants to know how buyers use its oil

Iraq would like to know how and where its oil will be used, as demand rises for Middle Eastern cargoes to replace shipments from Iran.

The heart of global oil exports thrives amid geopolitical tensions

Michele Cowart, World Oil

The Middle East and North Africa (MENA) remain the quintessential oil exporting region, replete with considerable assets and tensions.

DNO ramps up Peshkabir field output to 50,000 bopd

DNO ASA, the Norwegian oil and gas operator, today announced production at Peshkabir field in the Kurdistan region of Iraq has ramped up to 50,000 bopd, meeting the end-2018 target ahead of schedule and below budget.