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The Kurdish collapse in mid-October was swift, with Iraqi forces backed by the Shia-dominated Hashd Al-Shaabi (Popular Mobilisation Units) quickly taking control of the Bai Hassan and Avana oilfields near Kirkuk run by state-owned North Oil Company (NOC). All the oilfields and infrastructure in Kirkuk province of any value are now in Baghdad’s hands. That denudes the Kurdistan Regional Government (KRG) of the revenues from 300,000-400,000b/d of Kirkuk production, eroding its financial base and potentially leaving international oil companies (IOCs) to face renewed difficulties in getting paid for their exploration and production efforts in the region.
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