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Iraq

Vallourec to deliver over 30,000 tonnes of pipes for TotalEnergies in Iraq
TotalEnergies has tasked Vallourec with supplying tubular solutions for drilling 48 wells as part of its integrated gas project in Iraq, reinforcing their ongoing industrial cooperation on the Ratawi field.
Western sanctions disrupt Lukoil’s international operations
Sanctions imposed by the U.S. and the U.K. are paralyzing Lukoil's operations in Iraq, Finland, and Switzerland, putting its foreign businesses and local partners at risk.

Aramco’s net profit drops for the eleventh consecutive quarter

Aramco reported a 2.3% decrease in its net profit for the third quarter, amid global economic uncertainties and an oversupply of oil, although its adjusted earnings showed a slight increase.
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Algeria to launch SCADA system modernisation of national power grid in 2026
The Algerian government plans a full upgrade of the SCADA system, managed by Sonelgaz, to improve control and supervision of the national electricity grid starting in 2026.
Excelerate Energy to build Iraq’s first floating LNG terminal in $450 mn deal
Excelerate Energy has signed a definitive agreement with Iraq’s Ministry of Electricity to develop a floating liquefied natural gas import terminal at Khor Al Zubair, with a projected investment of $450 mn.

Turkey locks in 19 Bcma of LNG, Moscow and Tehran under pressure

Botaş lines up a series of liquefied natural gas (LNG, liquefied natural gas) contracts that narrow the space for Russian and Iranian flows, as domestic production and import capacity strengthen its bargaining position. —
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Lukoil begins sale of international assets after new US sanctions
Lukoil has started divesting its foreign assets following new US oil sanctions, a move that could reshape its overseas presence and impact supply in key European markets.
Baghdad in talks over OPEC quota despite exports at 3.6 million barrels
Iraq is negotiating a potential revision of its OPEC production limit while maintaining exports at around 3.6 million barrels per day despite significantly higher capacity.

Sonatrach replaces its CEO as internal tensions mount

Algeria has removed Rachid Hachichi from the leadership of Sonatrach, two years after his appointment, replacing him with Noureddine Daoudi, former head of the National Agency for the Valorisation of Hydrocarbon Resources.
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Sonatrach resumes drilling in Libya after more than ten years of security-related halt
Algerian company Sonatrach has resumed exploration activities in Libya's Ghadames Basin, halted since 2014, as part of a strategic revival of the country's oil sector.
Sonatrach restarts Skikda unit to boost LNG exports
The Algerian national company has restarted a key liquefaction unit in Skikda, strengthening its export capacity amid massive investment in the gas sector.

Jordan confirms its ability to supply Lebanon with energy via interconnections

Amman says it is ready to provide electricity and natural gas to Lebanon using its already operational infrastructure, pending the completion of regional procedures.
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Jordan: exporting its electricity via Syria, operational levers and constraints
Jordan can export electricity if three conditions align: fuel availability for its power plants, measurable system surplus, and a functional transit framework via Syria to Lebanon with clear metering and settlement rules.
Midad Energy signs $5.4bn contract with Sonatrach in Algeria
Sonatrach and Midad Energy North Africa signed a production-sharing hydrocarbon contract in the Illizi South perimeter, involving a total investment estimated at $5.4bn for exploration and exploitation of the site.

Algeria signs two oil assessment agreements with Petrogas E&P

Alnaft has signed two study agreements with Omani firm Petrogas E&P on the Touggourt and Berkine basins, aiming to update hydrocarbon potential in key oil-producing areas.
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ExxonMobil returns to Iraq with deal on Majnoon oil field
ExxonMobil has signed a memorandum of understanding with the Iraqi government to develop the Majnoon oil field, marking its return to the country after a two-year absence.
Algeria commits $60 billion to strengthen its energy strategy by 2029
Algeria plans to allocate $60 billion to energy projects by 2029, primarily targeting upstream oil and gas, while developing petrochemicals, renewables and unconventional resources.

ShaMaran signs agreement to restart oil exports via Iraq-Türkiye pipeline

ShaMaran and several international oil companies have reached a provisional deal with Baghdad and Erbil to resume crude exports from the Kurdistan region via pipeline, after months of suspension.
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Iraq resumes oil exports from Kurdistan after two-year suspension
Baghdad has restarted crude shipments from Kurdistan via the pipeline to Turkey, following a two-year halt linked to legal and contractual disputes involving international firms operating in the region.
Eight international oil companies reach deal to resume Kurdistan exports
Eight oil companies and Iraqi and Kurdish authorities have reached a preliminary deal to restart crude exports via the Iraq-Turkey pipeline, halted since March 2023.
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The complexities of tensions Turkey Iraq: Kurdistan’s oil in question
Iraqi Kurdistan, an autonomous region in northern Iraq, has acquired a leading position on the energy scene thanks to its vast oil reserves. Officially recognized by the 2005 Iraqi constitution, this region, which shares borders with Iran, Turkey and Syria, plays a central role in the Kurdistan region, with Erbil as its capital.
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Fos Cavaou terminal: a key European LNG site
Massive imports of liquefied gas into France, mainly from the United States, have boosted business at the Fos Cavaou terminal, playing a crucial role in securing Europe's energy supply, while looking to more sustainable solutions for the future.
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OPEC+ maintains status quo in face of oil market competition

OPEC+ ministerial panel keeps oil production policy unchanged, despite higher prices due to the extension of the Saudi reduction. Russia joins the cuts, while Algeria hesitates.
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Libya’s energy market revitalized: three foreign giants are back in business
Libya's energy market is getting a new lease of life, with three international oil companies back in business after a decade's absence. Production reached 1.2 million barrels per day, marking an economic recovery.
Naturgy doubles first-half profit and reduces debt
Naturgy doubles first-half profits and reduces debt thanks to renewable energies and good international operating results despite the gas crisis.

China: Xi Jinping wants to strengthen “strategic partnership” with Algeria

Chinese President Xi Jinping strengthens ties with Algeria during his Algerian counterpart Abdelmadjid Tebboune's visit to Beijing, supporting Algeria's aspiration to join the BRICS. China is investing in Algeria's energy sector, strengthening cooperation between the two countries in this strategic area.
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Shell and Morocco sign 12-year LNG supply contract
Morocco consolidates its energy security by signing a strategic contract with Shell for the supply of liquefied natural gas (LNG). Towards greater Moroccan energy independence?
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New gas contracts between Sonatrach and TotalEnergies

Algeria’s natural gas exports to Southern Europe in 2023

Algeria's natural gas exports to Southern Europe will remain robust in 2023, with Italy still dependent on Algerian imports and an increase in gas flows to Spain.
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Lebanon makes deals to get more oil from Iraq
Lebanon, facing a severe economic crisis, has reached agreements with Iraq to boost its fuel supply to alleviate energy shortages. These agreements offer a glimmer of hope for improving electricity production and alleviating the difficulties faced by the population.
Naturgy to buy EUR 536m renewable energy portfolio from Ardian fund
Naturgy, Spain's leading gas supplier, is acquiring a Spanish renewable energy portfolio for €536 million from investment fund Ardian, including 12 operating wind farms and solar farm projects.

Hayan Abdel-Ghani announces no further Iraqi oil cuts

Iraq's oil minister says there will be no further OPEC+ oil production cuts at its next meeting in June. The decisions taken at this meeting will play a crucial role in the future of the oil market.
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Iraq awaits “final agreement” with Turkey to export Kurdish oil
Oil exports from Iraqi Kurdistan remain on hold pending a final agreement with Turkey. The Iraqi federal government had announced a resumption of exports on May 13, but Kurdistan is still waiting for an agreement to resume oil exports.
Kurdish oil: Iraq awaits Turkey’s response to resume exports
Iraq is still waiting for Turkey's response to resume its oil exports from Kurdistan. Exports had been suspended since the end of March after an arbitration tribunal ruled in favor of the Iraqi central government. Despite the announcement of an agreement between Baghdad and Erbil, the resumption now depends on Turkey's decision.

Eni successfully unloads the first LNG cargo ship in Piombino

Eni has successfully unloaded the first LNG cargo at the new Snam regasification terminal in Piombino. This acquisition of regasification capacity is part of Eni's strategy to diversify LNG supplies in Italy.
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Iraq optimistic about resuming Kurdish oil exports
Iraq is hoping for an agreement to resume oil exports to Turkey, which have been halted for a month due to an old legal dispute. Kurdistan's oil sales must now go through the Iraqi State Oil Company, and revenues from Kurdish exports are supervised by Baghdad.
France: Le Havre LNG terminal, the Council of State gives its decision
The Council of State has rejected the request of Europe Ecologie les Verts and an association from Le Havre against the LNG terminal project in Le Havre. The "Cape Ann" vessel will thus be able to inject about 10% of the annual French gas consumption.

TotalEnergies partners to reduce flared gas emissions in Iraq

TotalEnergies awards shares to Basrah Oil Co. and QatarEnergy in a $27 billion deal for the Integrated Gas Growth Project in Iraq The goal is to reduce dependence on Iranian electricity and gas imports while promoting sustainable practices.
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Oil holds onto gains after Opec+, growth worries
Oil prices are holding steady despite OPEC+ production cuts, with concerns about global economic growth limiting the surprise effect. Analysts are awaiting the release of U.S. commercial inventories for the week ended March 31.
Iraq: Agreement between the Iraqi government and TotalEnergies
TotalEnergies and the Iraqi government have confirmed the terms of the contract for the development and production of the GGIP project, with Basrah Oil Company holding 30% and QatarEnergy 25%. The $10 billion project aims to improve Iraq's electricity supply.
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