Hopeful Kurdish oil battles challenges in Iraq
Financial and political troubles are delaying the expansion of KRG oil production
A perfect storm of financial, political and security challenges is battering the Kurdish Regional Government (KRG) in northern Iraq, forcing its energy sector to hunker down. The region has stopped receiving government resources and, is funding a military campaign against Islamic State (IS) while caring for 1.8 million refugees and displaced people. Independent oil exports, deemed to be illegal by the federal government, began in June (see table). Although direct sales are bringing in more than was received from Baghdad in 1H 2015, they are still not covering the costs. Oil production is currently in the range of 650,000-700,000 barrels per day (b/d). KRG’s Natural Resources Minister Ashti H
Also in this section
8 December 2025
The Caribbean country’s role in the global oil market is significantly diminished, but disruptions caused by outright conflict would still have implications for US Gulf Coast refineries
5 December 2025
Mistaken assumptions around an oil bull run that never happened are a warning over the talk of a supply glut
4 December 2025
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
3 December 2025
Aramco’s pursuit of $30b in US gas partnerships marks a strategic pivot. The US gains capital and certainty; Saudi Arabia gains access, flexibility and a new export future
