The Federal Government of Iraq is the central authority of the Republic of Iraq. It sets national policy, legislation, and regulatory oversight for the hydrocarbons and industrial sectors, including refining, gas processing, and petrochemicals.
Acting primarily through the Ministry of Oil and state-owned entities such as the State Organization for Marketing of Oil (SOMO), it regulates upstream development, manages licensing and service contracts with international operators, oversees crude oil and natural gas production, and markets exports. It also governs key midstream infrastructure, including pipelines to Turkey’s port of Ceyhan and export terminals on the Persian Gulf, and establishes frameworks for gas capture, processing, and associated infrastructure.
For the chemical industry, Iraq’s oil and gas resources provide critical feedstocks for refining and petrochemical value chains, while federal policy influences investment conditions, export volumes, and domestic feedstock availability. The government also coordinates with the Kurdistan Regional Government on production and export matters related to the Kurdistan Region of Iraq.
15% stake added to the Kirkuk redevelopment vehicle; ConocoPhillips holds 42%; project targets over 3bn boe across multiple Kirkuk fields; assets currently with NOC/NGC.
Agreements reached to reopen the KRI-Ceyhan pipeline, closed since spring 2023, boosting MOL's Shaikan oil field production and price realization.
