Fao project delays to cause massive export shut-in

Workers build the first new storage at Fao in March 2011. (ALI ABU IRAQ/Iraq Oil Report)

Because of chronic setbacks at the Fao storage depot, Iraq will fail to meet its export potential until at least 2018, preventing the sale of billions of dollars worth of oil.

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.