For years, rectifying this situation was not the primary focus of the West in Iraq, as it was instead focused on maintaining its military influence in the country following its removal of Saddam Hussein in 2003. Even after the U.S.’s ‘End of Combat Mission’ in Iraq in December 2021, Washington and its allies were content to keep granting waivers to Baghdad to keep importing Iranian energy, although its patience became increasingly strained during the first presidency of Donald Trump, also detailed in my lat ...

Core Insights - Zallaf Oil and Gas has successfully shipped its first export cargo from the Chadar oil field, totaling 600,000 barrels [1] - The Chadar field, located in the Sirte Basin, began production in January 2023, initially producing 1,500 barrels of crude oil daily and 7.5 million cubic feet of associated gas [1][2] - The National Oil Corporation (NOC) has been active in discovering new oil fields, with recent announcements of new discoveries in northwestern Libya and the Sirte Basin, indicating a resurgence in oil production [3][4] Company Developments - Zallaf Oil and Gas was established by the NOC in 2017 to develop previously discovered oil fields that had not yet entered production [2] - The NOC has recently announced new discoveries, including a well producing approximately 4,675 barrels of crude oil per day and 2 million cubic feet of gas [3] - Another discovery by OMV's local subsidiary in the Sirte Basin showed production exceeding 4,200 barrels of oil per day, with gas production expected to surpass 2.6 million cubic feet daily [4] Industry Context - Major oil companies, including BP, Shell, Eni, TotalEnergies, Exxon, and Chevron, have resumed operations in Libya, reflecting an improving security environment after years of civil conflict [5] - The NOC has launched its first oil and gas tender in 18 years, attracting interest from international oil companies for both existing fields and new exploration projects [5]