Oil production grows as Kurds hit the on-switch
With Kurdistan pumping 250,000 barrels a day (b/d) of oil and exporting three-quarters of that volume, Iraq’s north is emerging as the Middle East’s fastest-growing hydrocarbons player
Despite continuing arguments between the Kurdish leadership in Erbil and the central Iraqi government in Baghdad, oil and gas assets in the three Kurdish provinces are attracting serious blue-chip attention. Vallares, the oil and gas acquisition vehicle established by former BP chief Tony Hayward, is said to be considering investing in Turkey’s Genel Enerji, which holds licence interests in the Kurdistan’s Taq Taq and Tawke oilfields – producing a combined 140,000 b/d. Meanwhile, the UAE’s Rak Petroleum, which holds a 30% stake in Norway’s DNO International, operator of the 70,000 b/d Tawke field, is said to be gearing up for a take-over of DNO. Rak chief executive (CEO) Bijan Mossavar-Rahma
Also in this section
29 April 2026
The UAE’s exit from the alliance marks a decisive step towards a world in which oil markets are shaped less by collective management and more by national strategy
29 April 2026
Trafigura’s $1b prepayment agreement confirms African resource holders’ renewed interest in oil-backed financing deals as they look to capitalise on high oil prices
29 April 2026
The UAE’s departure from the oil producers’ group was a surprise to many, but the move can be traced back to a single point five years ago
28 April 2026
Oil traders warning of $200/bl oil are wrong, and the market should be wary of proclamations that the impact of the oil shortage has only begun to be felt and a that a ‘harsh adjustment’ is coming—even for industrialised nations
