Iraq Increases Oil Production with New Profit-Sharing Contracts

★ IRAQ

1.Iraq Signs Contracts to Develop 13 Oil and Gas Fields

Iraq finalized contracts to develop 13 oil and gas fields, mainly with Chinese companies, aiming to boost production. These agreements are expected to add 750,000 barrels of oil per day and 850 million cubic feet of gas daily. Major Chinese firms like ZPEB and ZhenHua secured key projects, highlighting China’s growing influence as Western companies reduce involvement. This partnership is part of Iraq’s plan to increase oil output to 7 million barrels daily by 2027.

2.Iraq Loses $15 Billion Annually Due to Kurdistan Oil Export Halt

The suspension of oil exports from Iraq’s Kurdistan region through Turkiye’s Ceyhan port has caused a $15 billion annual loss. Oil expert Jekar Aziz Herki noted that this halt severely impacts Iraq’s industry, with $900 million lost monthly.

3.Baghdad Adopts Profit-Sharing in New Oil and Gas Contracts

Iraq is shifting to profit-sharing contracts with global oil companies, marking its most significant policy change in decades. Baghdad signed preliminary agreements for 13 exploration blocks and oil fields based on a bidding round held in May. These contracts offer companies a share of revenues after royalties and cost recovery, attracting investment and boosting growth.

============

Iraq Violates Ceaser Act, Assad Highjacks Aviation Business (Exclusive)

Iraqi militias conduct 13 strikes against U.S. Army bases, one causes severe damage.

The Middle East Early Phoenix Daily Reports deliver concise intercepts, helping American policymakers make informed, data-driven decisions.