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Kurdistan

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.

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.

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.
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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.

TotalEnergies activates the last two components of the giant energy project in Iraq

TotalEnergies launches construction of the final key infrastructures of the Gas Growth Integrated Project in Iraq, putting into execution all its oil, gas, solar and water components.

Oil industry could unlock 1,000 billion barrels through AI recovery methods

A new analysis estimates that existing oil fields could yield up to 1,000 billion additional barrels without major new discoveries, using proven methods supported by artificial intelligence.
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QatarEnergy and TotalEnergies launch final phase of major gas project in Iraq

QatarEnergy, TotalEnergies and Basra Oil Company begin construction of the final infrastructure components of Iraq’s integrated gas project, mobilising more than $13bn in investments to modernise the country’s energy supply.

Iraq and Oman in talks to build new oil pipeline to secure exports to Asia

Iraq is negotiating with Oman to build a pipeline linking Basrah to Omani shores to reduce its dependence on the Strait of Hormuz and stabilise crude exports to Asia.

Jordan ready to export electricity to Syria pending grid connections

Amman confirms its grid readiness to supply Syria during off-peak hours, pending completion of Syrian infrastructure.
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OPEC+ approves 137,000 barrels/day increase starting in October

OPEC+ begins a new phase of gradual production increases, starting to lift 1.65 million barrels/day of voluntary cuts after the early conclusion of a 2.2 million barrels/day phaseout.

OPEC+ prepares for decisive debate on quotas amid surplus risk

Eight OPEC+ members will meet to adjust their quotas as forecasts point to a global surplus of 3 million barrels per day by year-end.

Iraq in talks with ExxonMobil for refining capacities in Asia

SOMO is negotiating with ExxonMobil to secure storage and refining access in Singapore, aiming to strengthen Iraq’s position in expanding Asian markets.
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Aramco and SOMO suspend crude supplies to India’s Nayara Energy

Saudi and Iraqi exporters halted supplies to Nayara Energy, forcing the Rosneft-controlled Indian refiner to rely solely on Russian crude in August.

Iran cuts 1.4 GW to Iraq, Baghdad speeds up regional interconnections

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 Revises Global Oil Forecasts for 2026 to 106.5 Million b/d

OPEC's August report reveals Russian production above quotas and commercial dominance in Asia, while Kazakhstan massively exceeds its reduction commitments.
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Iraq and Syria Revive Kirkuk-Baniyas Pipeline to Bypass Traditional Routes

Baghdad and Damascus intensify discussions to reactivate the 850 km pipeline closed since 2003, offering a Mediterranean alternative amid regional tensions and export blockages.

Massive power outage in Iraq after losing 6,000 MW of capacity

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+ Cuts Production Despite Higher Quotas in July

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.
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Iran-Iraq clandestine oil network generates three billion dollars annually

Baghdad denies any involvement in sophisticated smuggling system mixing Iranian and Iraqi oil. Washington sanctions networks accused of financing designated terrorist organizations.

Chinese oil companies strengthen their presence in the Iraqi market

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.
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Iran Launches $17 Billion Project to Boost South Pars Gas Field Extraction

Iran invests $17 billion to counteract declining reservoir pressure at South Pars, a gas field shared with Qatar, securing estimated reserves equivalent to around 363 billion barrels of oil.

OPEC+ Gradually Increases Iraqi Oil Production Starting April 2025

OPEC+ has authorized a gradual increase in Iraq's oil quota starting in April 2025, enabling the country to reach 4.11 million barrels per day by January 2026, amid strategic developments marked by the imminent reopening of the Iraq-Turkey pipeline.

Washington ends Iraq’s exemption for purchasing Iranian electricity

The United States has decided not to renew Iraq’s exemption, granted since 2018, allowing Baghdad to import electricity from Iran despite U.S. sanctions. This measure increases pressure on Iraq, whose energy supply largely depends on its neighbour.
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Opec+ announces gradual increase in production, causing oil prices to fall

Opec+ has reaffirmed its plan for a gradual increase in oil production starting from April 2025, a decision that has led to a drop in oil prices, particularly Brent. This strategy marks a shift in the cartel’s approach.

BP revises its strategy, market expects a return to hydrocarbons

British oil giant BP will present a strategic revision on Wednesday, marked by a shift back to fossil fuels and a reduction in renewable energy investments, following a sharp decline in net profit last year.

Iraq Prepares to Resume Kurdish Oil Exports via Turkey

Baghdad announces an agreement with Erbil to restart the export of 300,000 barrels per day via the Turkish port of Ceyhan. A government delegation will travel to Iraqi Kurdistan to finalize the export mechanism after two years of suspension.
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American Pressure and Market Balance: OPEC+ Faces Trump’s Demands

The Trump administration is increasing pressure on OPEC to boost oil production. Between economic strategies and geopolitical stakes, global market balance remains fragile as OPEC+ takes a cautious approach ahead of key decisions.

Historic Agreement Between Iraq and BP to Develop Kirkuk Oil Fields

Iraq and BP finalize an ambitious agreement to rehabilitate four oil fields in Kirkuk and exploit flared gas, aiming to boost energy production and reduce dependence on Iranian gas.

Iraq: TotalEnergies transforms flared gas into sustainable electricity

TotalEnergies has launched the construction of its first flared gas treatment plant in Iraq.
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OPEC+ Extends Oil Cuts Until 2025 to Stabilize Prices

Despite internal disagreements, OPEC+ decided to maintain its production cuts until March 2025, extending their gradual removal to avoid a price drop in an uncertain market environment.

Saudi Arabia Considers Oil Price Cuts for Asia

Saudi Arabia may lower its oil prices for Asian markets in January, a potential strategy to respond to weak demand and growing regional competition. A decision still pending confirmation.

U.S. Sanctions: Iraq at the Heart of Global Energy Diplomacy

The Trump administration considers sanctions against Iraq to limit Iranian influence. These measures could redefine the geopolitical and economic dynamics of the global energy market.
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OPEC+ faces strategic challenges ahead of a decisive meeting on oil production

OPEC+ members meet amidst tensions over production targets, global economic uncertainties, and weak demand, particularly in China.

Baghdad: Saudi Arabia, Iraq, and Russia Discuss Oil Quotas Ahead of OPEC+ Meeting

Saudi, Russian, and Iraqi ministers met in Baghdad to discuss production quotas and oil market stability ahead of the crucial OPEC+ meeting scheduled for December 1.

Iraq Seeks to Diversify Its Oil Markets Towards Africa and Europe

Iraq explores new markets for its crude oil, targeting Europe and Africa to reduce dependence on China and India, its current main importers.
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UAE Oil Exports Exceed Quotas: Rising Tensions Within OPEC+

Despite commitments to OPEC+ to limit production, the United Arab Emirates shows oil export volumes well above quotas. This situation raises questions and rekindles tensions within the cartel.

Strategic Alliance Between Russia and Iraq: Stabilizing Oil Prices Through OPEC+

Russia and Iraq strengthen their cooperation within OPEC+ to manage oil price fluctuations. This coordination is crucial for their respective budgets amidst sanctions and heavy reliance on oil revenues.

Libya and Kazakhstan: Contrasting Production Efforts within the OPEC+ Alliance

OPEC+ recorded an increase of 30,000 barrels per day in October, marked by Libya’s production surge and Kazakhstan’s reduction. Compliance remains a key challenge for the group.
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Iraq’s Kurdistan Hopes for Quick Resumption of Oil Exports Despite Tensions with Baghdad

Iraq's Kurdistan Hopes for Quick Resumption of Oil Exports Despite Tensions with Baghdad

U.S. Elections Reshape the Future of Energy: Between Protectionism and Climate Transition

The recent U.S. elections could reshape energy policies, influencing global markets, trade relations, and climate commitments. The opposing candidates’ positions, between protecting fossil industries and promoting clean energy, outline divergent prospects.
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