Oil majors, including TotalEnergies and ExxonMobil, are committing billions to projects in Basra and Kirkuk due to economic crises in Iraq.
4 reports, 2 independent
Updated Jul 1
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What happened
Oil majors, including TotalEnergies and ExxonMobil, are committing billions to projects in Basra and Kirkuk due to economic crises in Iraq.
Who's involved
What this event is mainly aboutHow it developed
Newest first. Tap a step to see who reported it.- The Iraq Petroleum Company, built in the 1950s, is involved in pipeline projects connecting Basra oilfields to Baniyas, with exploration underway for a revival of the route to Kirkuk.Sub-event
- Halliburton secured major contracts from TotalEnergies in the Middle East region, despite ongoing geopolitical conflict.Sub-event
Oil majors are investing in Basra and Kirkuk projects amid Iraq's economic crisis.1 source
Keep exploring
Part of
Iraq requires the Kirkuk–Ceyhan pipeline to Türkiye and the Basra-Aqaba oil pipeline to ensure alternative export routes, relying on southern Gulf terminals.Also in this story
- Iraq is transporting crude oil via pipeline.
- Iraq is planning new oil pipelines connecting Basra, Kirkuk, and Ceyhan, with Qatar's UCC joining the project consortium.
- Iraq and Jordan agreed to accelerate the Basra-Aqaba oil pipeline project to diversify Iraq's oil exports.
- Negotiations are underway between Iraq and Türkiye regarding a new oil transport agreement for the Kirkuk-Ceyhan pipeline.
The entities involved
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Iraq
sovereign state in Western Asia
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Basra
capital of Basra Governorate, in southern Iraq
Nothing else this week.
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Kirkuk
city in Iraq
Nothing else this week.
Related events
- In 2008, the regime in Baghdad sought control over the Basra port.
- Iraq is strategically developing its oil and gas sectors.
- Basrah Gas Company is contributing to enhancing Iraq's energy security.
- Global LNG supply is linked to the stability of the Strait of Hormuz, with oil loading monitored by Kpler and hints of a shift in the oil cartel involving Iraq.