IOCs stay committed to south Iraq
IOCs are pushing ahead with plans for output expansion—and the phasing out of flaring—despite Basra violence this summer
BP and Russia's Lukoil will move forward with output increases at their flagship projects in southern Iraq despite civil unrest that roiled the region this summer. Shell is also gearing up for an expansion of its gas venture which should deliver economic and social benefits. BP, operator of the Rumaila field, Iraq's largest producer, aims to lift production there from its current 1.48m barrels a day to 2.1m b/d, although this is a downward revision from an initial target of 2.85m b/d due to logistical constraints such as the water supply, and has no intention of pulling out in the wake of violent protests in Basra. "BP has been successfully operating the Rumaila oilfield for the past eight y
Also in this section
13 March 2026
Brussels is again weighing a cap on gas prices amid the Hormuz crisis, but the measure could backfire by deterring the LNG cargoes Europe urgently needs
12 March 2026
Emergency oil stocks provide a last line of defence to oil market shocks, so the IEA’s unprecedented 400m bl release represents something of a double-edged sword
12 March 2026
LPG could rapidly expand access to clean cooking across Africa and prevent hundreds of thousands of deaths from indoor air pollution each year, but infrastructure shortages and regulatory barriers are slowing investment and market growth
11 March 2026
Missiles over Dubai and disruption in Hormuz are testing the emirate’s reputation—and shaking the energy hub at the centre of the Gulf economy
