Baghdad risks wasting its moment
Political paralysis is preventing Iraq from capitalising on renewed international enthusiasm for upstream investment
Iraq’s oil sector is, by short-term metrics, enjoying the rude health to be expected of a major producer during an extended market bull run. Monthly export revenues hit a five-decade high in March, followed in April by a substantial rise in output—taking the country to within a whisker of filling its Opec quota for the first time this year. A series of recent announcements from the Ministry of Oil (MoO) indicated that the windfall was being duly deployed to renew development spending at state-managed oilfields. However, opportunities to lay the foundations for long-term output growth are being squandered because of political paralysis. The country remains without a permanent government nine

Also in this section
5 August 2025
After failed attempts to find a buyer for its stake in Russia’s largest oil producer, BP may be able to avoid the harsh treatment meted out to ExxonMobil and Shell when they exited—and could even restart operations if geopolitical conditions improve
1 August 2025
A number of companies have filed arbitration claims against Gazprom over non-deliveries of contracted gas or other matters—and won. The next step is to collect the award, but this is no easy task
1 August 2025
Europe’s refining sector is desperately trying to adapt to a shifting global energy landscape and nowhere is this more apparent than in its largest economy
1 August 2025
The Middle East natural gas playbook is being rewritten. The fuel source offers the region a pathway to a cleaner, sustainable and affordable means of local power, to fasttrack economic development and as a lucrative opportunity to better monetise its energy resources.