Iraqis look north for progress
Two recent developments raise the prospect of a revival in northern Iraqi oil and gas fortunes, but familiar obstacles could thwart momentum
BP agreed contractual terms at the end of February with the Iraqi federal government to rehabilitate four giant oilfields in Kirkuk, covering more than 3b boe: the Baba and Avanah domes of the Kirkuk oilfield and three adjacent fields—Bai Hassan, Jambur and Khabbaz—all of which are operated by state-owned North Oil Company (NOC). BP will boost production capacity by 150,000b/d, to at least 450,000b/d, within 2–3 years. That announcement was preceded by renewed optimism over the fate of the Iraq–Turkey Pipeline (ITP)which has been shuttered for the past two years after an international arbitration ruling that suspended exports of Kurdish crude through the connection. “The key reason for
Also in this section
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
1 April 2026
The US-Iran conflict demonstrates the need for diversification in several senses of the word. It also exposes the limits of Washington applying pressure on major oil and gas producers it considers geopolitical adversaries
31 March 2026
Disappointing results in its bidding round are a reality check for Libya, and global exploration generally
