Shia cleric Muqtada al-Sadr withdrew his MPs from parliament in mid-June
Paper progress only in Iraq
Oil Ministry claims around key IOC investments ignore its lame duck status
All looks rosy in the Iraqi oil garden. The first major contract off the back of TotalEnergies’ planned $27bn investment in the country’s energy sector was signed in mid-July. Ever-bullish oil minister Ihsan Ismail declared in June that necessary approvals had been received for a state firm to buy ExxonMobil out from a key oilfield, potentially enabling some of Baghdad’s record crude export revenues to be ploughed into its slow-moving expansion. But flat production and sales—combined with, and in no small part caused by, prolonged political paralysis—paint a far bleaker picture. After a Paris meeting with the major’s CEO, Patrick Pouyanne, Ismail announced that a design contract had been ink
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Decades of turmoil have left Iraq’s vast energy potential underutilised, but renewed investment and strategic reforms are transforming it into a key player in the region
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The country's fifth and sixth oil and gas bid rounds have attracted a range of new players with gas as well as oil ambitions—and there’s a seismic shift in the contracting process
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Iraq is charting a new path for its indigenous resources and its youth, hoping to electrify the future with a mix of reforms and modernisation to fuel growth
