Subscribe | Register | Log in | Advertise | Digital Issue   |   Search
  • Upstream
  • Midstream & Downstream
  • Gas & LNG
  • Trading & Markets
  • Corporate & Finance
  • Geopolitics
  • Podcasts
Search
Related Articles
TotalEnergies deal may be launchpad for Iraq’s energy sector
Gas Growth Integrated Project pivotal to key Opec producer’s longer-term success
Iraq-Turkey pipeline outlook unclear despite deal
Major issues remain despite agreement between Iraq and Kurdistan
Middle East refiners primed for growth
Capacity additions set to take advantage of disruption to Russian diesel
Iraq’s future tied to deadlocked TotalEnergies deal
The $27bn megaproject is key to Iraq’s 2027 oil and gas production goals
Less is more in Iraqi downstream
The government’s new focus on relatively small, state-funded refinery expansions and upgrades bodes well for long-awaited progress
Mozambique upstream progress defies unrest
The east African country continues to attract investment in oil and gas projects, but concerns over security are still impeding developments in the gas-rich north
This time for Iraqi gas?
The new Baghdad government hopes to succeed where predecessors have failed in developing supply
Government formation promises relief from Iraq’s upstream stasis
The new administration’s close ties to Tehran could mould its stance towards potential IOC investors
ExxonMobil takes a chance on India’s upstream
The major’s involvement is a win for New Delhi as it seeks to promote offshore exploration
US politicians up windfall tax rhetoric ante
Surging downstream profits add fuel to the fire, but the spectre of demand destruction lurks
INOC will take over ExxonMobil’s operated share in the West Qurna-1
Iraq West Qurna ExxonMobil
Ian Simm
26 January 2022
Follow @PetroleumEcon
Forward article link
Share PDF with colleagues

INOC sets the stage for oil uptick

Control for Iraq’s new NOC of one of the country’s biggest oil assets may just be a first step in Baghdad’s strategy

Iraq’s Ministry of Oil announced in early January that Iraqi National Oil Co (INOC) would move to take over ExxonMobil’s operated share in the West Qurna-1 (WQ-1) oilfield. The move may offer insight into the ministry’s intensions for the recently relaunched INOC, which last year assumed the ministry’s umbrella role over seven state-owned regional and sector-specific subsidiaries and has since taken roles in projects throughout the oil and gas supply chain. Although a deal has yet to be finalised, the cabinet has signed off on INOC subsidiary Basra Oil Co (BOC) meeting the US firm’s $350mn valuation to acquire its 32.7pc stake and assume operatorship of the WQ-1 project for the eight remaini

Also in this section
Letter from Pakistan: More oil and gas needed, not less
Opinion
28 November 2023
Countries such as Pakistan will require fossil fuels for a long time to come, requiring a reframing of the narrative around the energy transition
LNG freight must navigate chokepoints and bottlenecks
28 November 2023
Rising LNG demand and supply risks are outpacing shipping logistics amid Panama and newbuild challenges
Chevron deal energises the Bakken
27 November 2023
The major’s acquisition deal could keep oil production in the mature play going for longer
‘Peace pipeline’ appears dead
27 November 2023
Fresh opposition from the US looks likely to be the final nail in the coffin for the long-delayed Iran-Pakistan connection

Share PDF with colleagues

COPYRIGHT NOTICE: PDF sharing is permitted internally for Petroleum Economist Gold Members only. Usage of this PDF is restricted by <%= If(IsLoggedIn, User.CompanyName, "")%>’s agreement with Petroleum Economist – exceeding the terms of your licence by forwarding outside of the company or placing on any external network is considered a breach of copyright. Such instances are punishable by fines of up to US$1,500 per infringement
Send

Forward article Link

Send
Sign Up For Our Newsletter
Project Data
Maps
PE Store
Social Links
Featured Video
Home
  • About us
  • Subscribe
  • Reaching your audience
  • PE Store
  • Terms and conditions
  • Contact us
  • Privacy statement
  • Cookies
  • Sitemap
All material subject to strictly enforced copyright laws © 2023 The Petroleum Economist Ltd
;

Search