Iraq is under US pressure to wean itself off Iranian electricity and gas imports,

Iraq is under US pressure to wean itself off Iranian electricity and gas imports, needed due to power shortages and flaring of associated gas, which is also bound by production limits due to the country's attempted adherence to OPEC+ production cuts.

In 2019, Iraq’s crude oil production averaged 4.7 mb/d.

Iraq's Council of Ministers has approved a contract with Japan's JGC Corporation to build a 55,000-bpd refinery in Basra province.

Iraq intends to import 450 MW from KAR Group, which is based in the semi-autonomous Kurdish region in the north of the country, and 200 MW from Turkey to plug the power deficit

Frederico Justus, President, International Operations, Weatherford, noted, “This joint operation with IDC is an honor for Weatherford. Together, IDC and Weatherford will work as one team, providing project management solutions that deliver efficient and effective execution of the contract.”

Iraq affirmed its commitment to the OPEC+ cuts in a call with Saudi energy minister Prince Abdulaziz bin Salman, the two ministers said in a joint statement.

Iraq oil exports fell to an average of 2.816 million b/d, in line with projections made in June by Oil Minister Ihsan Ismaael

Iraq pumped 4.213 million b/d of crude oil in May, above its OPEC+ quota of 3.592 million b/d and exported 3.63 million b/d, oil marketer SOMO said on June 7.

Iraq will stick to its quota in June and July and will make further reductions later on