Oil reserves in Iraq

Iraq has approved the sale by Royal Dutch Shell of the company’s 20 percent stake in Iraq’s West Qurna 1 oilfield to Japan’s Itochu Corp, a senior Iraqi oil official said on Jan. 10.

The United States is not about to plunder Iraq's petroleum reserves, U.S. Defense Secretary Jim Mattis, who arrived in Baghdad on Feb. 20, said as he sought to soothe partners rattled by U.S. President Donald Trump.

BP has cut its development budget for Iraq?s giant Rumaila oilfield by $1 billion this year after the government warned a slump in crude prices and its battle against Islamic State of Iraq and the Levant (ISIL) was making it difficult to pay oil companies.

Turkey and Iraq inked an agreement to increase Iraq's daily oil exports via Turkey's Ceyhan port, Turkish Energy Minister Taner Y?ld?z said Jan. 18.

"We have agreed with Baghdad to reach 550,000 barrels per day, or bpd," he said during a press conference in Baghdad, as reported by Reuters.

Deals regarding Iraqi oil were some of the most significant developments in the last year for Turkey's economy.

Turkey is about to make new deals with new companies, which will be of great importance to Iraqi oil, Energy Minister Taner Yıldız said at the launch meeting of the World Energy Outlook 2014 report of the International Energy Agency (IEA) yesterday, as reported by Anadolu Agency.

Crude oil flow on Iraqi Kurdistan’s pipeline to Turkey has resumed after upgrade work was completed and is now running at an increased rate of 200,000 barrels per day (bpd), industry sources and Turkish officials told Reuters Aug. 21.

Baghdad vents its fury at Ankara for its role in exporting Kurdish oil to the world amid KRG threats to secede from the rest of Iraq Turkey has been “driven by greed” in an escalating row over oil pumped from Iraq’s autonomous Kurdish region and shipped overseas, Baghdad’s top energy official has said, after northern Iraqi leader Masoud Barzani reportedly threatened to consider s