Iraq declares force majeure on foreign oilfields

https://www.turkiyetoday.com ^ | March 21, 2026 | Newsroom

[Enterprise]

Iraq has declared force majeure on all oilfields developed by foreign oil companies after military operations disrupted navigation through the Strait of Hormuz and halted most of the country's crude exports, three energy officials told Reuters.

Basra oil production was cut by approximately 70%, from 3.3 million barrels per day to around 900,000 barrels per day.

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TOPICS: Business/Economy; Government
KEYWORDS: energy; epicfury; iraq; oil; waronterror

[TonyM]

I wish the oil in the UAE and surrounding countries would just dry up! If it were not for the oil in their ground all those sand people would still be living in desert tents and riding camels! It that oil alone that allows them to build big palaces and drive expensive cars. They have never produced anything of value or contributed anything to the betterment of the world. If it ran out tomorrow they would be in worse shape than Cuba in less than five years.

[ZOOKER]

I'm sure there are many oil producers in many countries in the Gulf who are experiencing shipping troubles and lost revenue.

Can any of these countries (Qatar, SA, Kuwait, UAE, Oman, just to name a few) provide security for their tankers in the Gulf? How about the home countries of the foreign oil companies? How about the countries the ships are flagged under? The EU countries that rely on the oil?

No it'll be USAF and USN patrolling the Gulf, and USMC boots on the ground in Iran, insuring their safety and their profit. Doesn't seem right to me.

If I ever saw a need for the blue helmets, this would be it. Our troops should get the uranium and all nuclear materials out of Iran. Destroy all the missile and drone facilities. Then we let the Middle East keep itself safe.

[DownInFlames]

What do you expect from Arabs. They have had 47 years to dig a canal to bypass the Strait of Hormuz and all they do is diddle little girls.

[Robert DeLong]

All that really means is that no party can be held responsible for contracts that are not met, due to the attack on Iran.

So, that is nothing but a legal move to deflect facing any lawsuits that may crop up, as far as my understanding about the term force majeure.

[SaxxonWoods]

Everything is going better by the day, imo.

[Fury]

I wish the oil in the UAE and surrounding countries would just dry up! If it were not for the oil in their ground all those sand people would still be living in desert tents and riding camels! It that oil alone that allows them to build big palaces and drive expensive cars. They have never produced anything of value or contributed anything to the betterment of the world. If it ran out tomorrow they would be in worse shape than Cuba in less than five years.

Certainly a wish held by many, but oil is going to flow out of the Middle East for decades longer.

[Puppage]

I am think of issuing a fatwa. Wadda ya think?

[Brian Griffin]

“Our troops should get the uranium and all nuclear materials out of Iran.”

That’s probably not possible. Uranium, like guns, can be hidden.

At best we can bomb the fluorine purification facility.

[Brian Griffin]

“I wish the oil in the UAE and surrounding countries would just dry up! If it were not for the oil in their ground all those sand people would still be living in desert tents and riding camels!”

It generally does me no harm if a guy gets rich.

I generally wish the best to most people, even those of groups with troublesome members.

[Enterprise]

I concur with your analysis.