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Iraq is working to increase oil exports through new partnerships with Oman and international firms, aiming to diversify routes and boost capacity. The country’s export levels are near maximum, with ongoing efforts to improve infrastructure and reduce dependence on Gulf shipping routes, amid regional geopolitical tensions and market uncertainty.
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The US emphasizes ensuring the proper implementation of an export agreement involving Iraq, the Kurdistan Regional Government, and foreign oil companies. Meanwhile, Iraq's oil exports from Kurdish regions have resumed after a pipeline shutdown since March 2023, with US backing. The release of Elizabeth Tsurkov involved international efforts, including Icelandic mediation, and highlights complex regional diplomacy.
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Kuwait's subsidiary of KPC announced a significant offshore natural gas discovery in the Jazah field, covering 40 sq km with an estimated one trillion cubic feet of gas. Production has already exceeded 29 million cubic feet daily, supporting national energy security and economic growth efforts.
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OPEC+ has agreed to increase December oil output by 137,000 barrels per day, pausing planned hikes for early 2026 due to sanctions on Russia and market concerns. The move aims to balance supply and prices amid geopolitical tensions and market uncertainty.
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The UN climate talks in Belém, Brazil, are focusing on climate finance and fossil fuel phase-out. Recent reports confirm renewables will grow faster than any other energy source, making the transition away from fossil fuels inevitable despite political setbacks. The talks highlight the economic and geopolitical implications of this shift.