Despite March exports drop, record output for new buoys

Russian Deputy Prime Minister Arkady Dvorkovich (left) and Iraqi Deputy Prime Minister Hussain al-Shahristani (right) look into a ceremonial barrel of crude from the Lukoil-operated West Qurna 2 field, on March 29, 2014, in Basra. The field began first commercial production at 120,000 bpd and is targeting as much as 400,000 bpd by the end of the year. (ALI ABU IRAQ/Iraq Oil Report)

As new offshore export facilities come online, Iraq has the opportunity to increase oil sales, despite enduring security and infrastructure challenges.

Basra negotiates Iran gas pipeline

Demonstrators chant slogans during a protest in Basra

A bilateral gas pipeline deal between Basra province and Iran could circumvent Baghdad's energy sector authority and conflict with UN sanctions.