Kurdistan Regional Government (KRG)

The October 2017 loss of Kirkuk to the central Iraqi government immediately deprived the Kurdistan Region of nearly half of its then-600,000 b/d production. Erbil has since exceeded expectations in bringing output back above 400,000 b/d as higher oil prices and the continuation of payments to IOCs has facilitated higher investment in oil field development.

3 Jun, 2022

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Forza Petroleum Hits Records

Forza Petroleum notched up record output and revenues in Q1 and is on course for further gains. But a planned investment ramp up has fallen victim to global supply chain woes.

Output From Hawler Jumped Since 2018 ('000 b/d)

Economics & Finance

29 Jul, 2022

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KRG Revenues Up But Finances & Political Disputes Linger

High oil prices mean a modicum of economic relief for Iraq’s Kurdistan Regional Government. But after paying down debts, the KRG receives less than half of gross oil revenues and is still struggling to turn a surplus.