Iraq and Iran move further apart
Baghdad’s pivot away from its neighbour is increasingly extending to their shared resources
Iraq has been giving Iran the cold shoulder in recent months as the new government in Baghdad cosies up to Washington and pivots to build closer ties with Riyadh. And the divergence is also evident in field complexes that sit on both sides of the border. The western part of the giant Iraqi Majnoon oilfield and Iran’s Yaran and Azadegan fields are parts of a shared formation. The overall Majnoon field holds c.38bn bl of oil in place and has been earmarked to reach a production capacity of 500,000bl/d in 2021. The fields on the Iranian side are part of the West Karoun oilfield cluster, along with the giant Azar and Yadavaran fields. A source who advises both oil ministries tells Petroleum
Also in this section
21 February 2025
While large-scale planned LNG schemes in sub-Saharan Africa have faced fresh problems, FLNG projects are stepping into that space
20 February 2025
Greater social mobility means increased global demand for refined fuels and petrochemical products, with Asia leading the way in the expansion of refining capacity
19 February 2025
The EU would do well to ease its gas storage requirements to avoid heavy purchase costs this summer, with the targets having created market distortion while giving sellers a significant advantage over buyers
18 February 2025
Deliveries to China decline by around 1m b/d from move to curb crude exports to Shandong port, putting Iran under further economic pressure
