The suspension of 1,400 MW of electricity supplied by Iran to Iraq puts pressure on the Iraqi grid, while Tehran records a record 77 GW demand and must balance domestic consumption with regional obligations.
OPEC's August report reveals Russian production above quotas and commercial dominance in Asia, while Kazakhstan massively exceeds its reduction commitments.
Baghdad and Damascus intensify discussions to reactivate the 850 km pipeline closed since 2003, offering a Mediterranean alternative amid regional tensions and export blockages.
A nationwide blackout left Iraq without electricity for several hours, affecting almost the entire country due to record consumption linked to an extreme heatwave.
OPEC+ oil production fell to 41.65 million barrels per day in July 2025, reveals S&P Global's Platts survey, as Saudi Arabia normalizes production after June's Iran-Israel tensions.
Baghdad denies any involvement in sophisticated smuggling system mixing Iranian and Iraqi oil. Washington sanctions networks accused of financing designated terrorist organizations.
Independent Chinese oil companies are intensifying their investments in Iraq, aiming to double their production to 500,000 barrels per day by 2030 and compete with the sector’s historic majors.
Three new oil fields in Iraqi Kurdistan have been targeted by explosive drones, bringing the number of affected sites in this strategic region to five in one week, according to local authorities.
An explosion at 07:00 at an HKN Energy facility forced ShaMaran Petroleum to shut the Sarsang field while an inquiry determines damage and the impact on regional exports.
BP and Shell intensify their commitments in Libya with new agreements aimed at revitalizing major oil field production, amid persistent instability but rising output in recent months.
Major oil producers accelerate their return to the market, raising their August quotas more sharply than initially expected, prompting questions about future market balances.
The Abu Dhabi Fund for Development has granted AED752mn ($205mn) financing to the Gulf Interconnection Authority to connect the electricity grids of the United Arab Emirates and Saudi Arabia, enhancing regional energy exchange.
The potential closure of the Strait of Hormuz places Gulf producers under intense pressure, highlighting their diplomatic and logistical limitations as a blockage threatens 20 million daily barrels of hydrocarbons destined for global markets.
Following US strikes in Iran, international energy companies partially evacuate their teams from Iraq as a precaution, while Lukoil maintains its entire personnel on southern oilfields.
The Middle East conflict forces Iraq to delay certain oil developments, disrupting field operations despite temporary stability in production and exports amid growing logistical tensions.
The Iraqi federal government initiates legal proceedings against the autonomous region of Kurdistan regarding gas contracts signed with American companies, while Washington reaffirms its support for these strategic energy agreements.
Iraq has signed a deal with China’s Geo-Jade and Hilal al-Basra to develop an integrated project combining oil, refining and electricity in the country’s south.
Iraqi Kurdistan continues to increase its oil production despite restrictions from Baghdad, which is trying to comply with OPEC+ quotas and attract US gas investment to diversify its energy sources.
A Greek tanker carrying Iraqi crude was severely hit by missiles fired by the Iranian-backed Houthis, highlighting the escalation of terrorist actions in the Red Sea.
In July, India became the biggest buyer of Russian oil, surpassing China, against a backdrop of Western sanctions against Moscow and changes in global trade flows.
Lebanon obtains crucial support from Iraq with an increase in heavy fuel oil deliveries to 125,000 tonnes in August, aimed at keeping its power plants operational in the midst of the crisis.
BP returns to Iraq after five years, signing a preliminary agreement with the government to restart production from the Kirkuk fields via a profit-sharing model.
BP returns to Iraq after five years, signing a preliminary agreement with the government to restart production from the Kirkuk fields via a profit-sharing model.
Lebanon obtains crucial support from Iraq with an increase in heavy fuel oil deliveries to 125,000 tonnes in August, aimed at keeping its power plants operational in the midst of the crisis.
Iraq plans to double its gas production and significantly increase its oil production by 2030, while facing major challenges in terms of infrastructure and fiscal conditions.
Algeria began an immediate supply of fuel oil to Lebanon, thus avoiding the total paralysis of strategic infrastructures following the exhaustion of stocks at the Zahrani power plant.
In July, OPEC+ produced 437,000 barrels per day in excess of quotas, jeopardizing reduction plans and exacerbating the challenges facing an oil market already under pressure.
Saudi Aramco's new official sales prices for September were lower than expected, reflecting weak refining margins in Asia and the forthcoming OPEC+ production increase.
Oil prices rose slightly after the publication of a positive indicator on the US economy, reassuring investors about future demand despite persistent geopolitical risks.
BP signs an agreement with Iraq to develop four oil and gas fields in the province of Kirkuk, with the aim of increasing energy production and diversifying resources.
MOL optimizes oil production in Azerbaijan, capitalizing on decades of experience in managing mature fields, with promising prospects in the Caspian region.
