Basrah Oil Company (BOC) is the engine that drives Iraq’s upstream sector. The firm oversees production in Iraq’s oil heartlands of Basra province, and its production capacity of around 3.36mn b/d accounts for more than 70% of federal Iraq’s wellhead production capacity.
As such, BOC has played a key role in Iraq’s efforts to implement Opec+ cuts over the past two years and is now playing the key role in bringing production back up as those cuts are eased and concerns grow over a lack of Opec+ spare capacity (MEES, 4 February). (CONTINUED - 959 WORDS)
