“BAGHDAD, March 20 (Reuters) – Iraq has declared force majeure on all oilfields developed by foreign oil companies, as military operations in the region have disrupted navigation through the Strait of Hormuz, preventing most of the country’s crude exports from moving, oil ministry sources said.”
Edit:
“What is force majeure?
Force majeure, from the French meaning “superior force”, is a clause in contracts that allows a party to be excused from its obligations when an event beyond its control prevents performance.
This legal move can allow a party to suspend its obligations temporarily, be released from them partially or fully, or adjust them to reflect the new circumstances.”
That probably suggests the Iraqi government are infrastructurally re-appropriating oil fields (or in plain terms, ~~seizing control of foreign-run oilfield productions~~ exempting from contractual obligations) for ~~national security~~ various reasons
anonymousasu on
I was promised a Golden Era, a country so “hot” with unlimited profit. Are you telling me the man selling NFT trading cards as him dressed as a cowboy lied? At least I get compliments on my gold Trump sneakers so not a total loss.
francois_du_nord on
Add a bunch of wildcatters to the list of those looking for a pound of flesh. Good thing King Pedo is overweight, he’s got plenty to give.
Ziabatsu on
So now Iran has helped another nation nationalize their oil fields? This is a domino theory I can get behind
Searchlights on
> **Force majeure** is a contractual clause freeing parties from liability due to extraordinary, unavoidable events—such as natural disasters (“acts of God”), war, or pandemics—that prevent contract performance. Originating from French civil law (meaning “superior force”), it is invoked by proving the event was unforeseeable, external, and insurmountable.
LosinCash on
Yeah, so they are taking fields being worked by other nations, and then through the seizure further restricting oil output and flow to the rest of the world. Bold move, and one that will work.
To be perfectly clear, I don’t support Iraq, but they have played their hand quite well.
ETA: fat fingered the country.
16ozbuddz on
Israel and USA creating economic chaos around the globe.
Clean-Director-7340 on
Fuckin a we are winning too much sir, please for the love of god, stop the winning.
jokeren on
What about the oilfields in the north which export through the iraq-turkey pipeline?
Just yesterday North Oil company said they will export 250 000 barrels per day initally with the new agreement between Iraq and Turkey. Other companies have shared similar sentiments.
DeathFlameStroke on
Are we unironically watching “the third way” dream of nationalized oil revive under *checks notes* the US military industrial complex and Israel????
d3gaia on
Does this mean that the oilfields in Iraq that are essentially owned and operated by the US & UK are effectively being nationalized?
BatmanHatesSuperman on
No refunds. Force majeure. Read the back of your ticket !
Plekuz on
So, USA going to start a war with Iraq as well I guess?
good_not_long on
This doesn’t really seem to be going to plan.
doctorlongghost on
So torn between wanting to see the whole economy implode, guaranteeing a MAGA defeat in November, or seeing things somehow inexplicably work out, yet again.
Tripple_T on
Iraq pulling the “get out of being sued” card
multivitaminegummy on
1973 flashbacks
U-235 on
Reuters having a paywall is actually insane to me. I know that’s the business model for media companies these days, but they aren’t just a news site, they’re a wire service.
caudatus67 on
I heard they were in talks with Turkey to export oil through it, but I guess it’s logistically not possibile to supplant the lost exports through the strait of Hormuz.
Ditka85 on
I’m not versed in oil production, but can you just stop pumping/refining? I’d think there’s a lot more to stopping and resuming production than just flipping a switch.
bonedaddy1974 on
Good job Trumpers,now the rest of us will pay double digit gas
No-Understanding2406 on
the part people are glossing over is what this does to contracts downstream. Iraq ships roughly 3.5 million bpd through Hormuz. the Turkey pipeline up north can handle maybe 350-400k on a good day. force majeure does not make the oil appear somewhere else, it just legally shields Iraq from breach-of-contract claims.
the real domino is refineries that built supply chains around Iraqi crude now scrambling for alternatives. and “alternatives” in a Hormuz-closed world means what exactly? Saudi east-west pipeline? UAE Fujairah terminal? both already priced in and under serious pressure.
this is going to be interesting in the most stressful possible sense of that word.
AdeptPlantain1839 on
Eli5: because of the war they’re not able to fulfill the contracts so they’re doing force mejeur and cutting oil production since they can’t get it out anyway?
norkb on
Can I claim “force majeure” on my taxes since the US government has abandoned the social contract with the American people?
24 Comments
Excerpt
“BAGHDAD, March 20 (Reuters) – Iraq has declared force majeure on all oilfields developed by foreign oil companies, as military operations in the region have disrupted navigation through the Strait of Hormuz, preventing most of the country’s crude exports from moving, oil ministry sources said.”
Edit:
“What is force majeure?
Force majeure, from the French meaning “superior force”, is a clause in contracts that allows a party to be excused from its obligations when an event beyond its control prevents performance.
This legal move can allow a party to suspend its obligations temporarily, be released from them partially or fully, or adjust them to reflect the new circumstances.”
As per this [Al Jazeera article ](https://www.aljazeera.com/news/2026/3/13/force-majeure-what-is-it-and-why-have-some-gulf-countries-invoked-it#:~:text=Force%20majeure%2C%20from%20the%20French,beyond%20its%20control%20prevents%20performance.)
Edit 2:
That probably suggests the Iraqi government are infrastructurally re-appropriating oil fields (or in plain terms, ~~seizing control of foreign-run oilfield productions~~ exempting from contractual obligations) for ~~national security~~ various reasons
I was promised a Golden Era, a country so “hot” with unlimited profit. Are you telling me the man selling NFT trading cards as him dressed as a cowboy lied? At least I get compliments on my gold Trump sneakers so not a total loss.
Add a bunch of wildcatters to the list of those looking for a pound of flesh. Good thing King Pedo is overweight, he’s got plenty to give.
So now Iran has helped another nation nationalize their oil fields? This is a domino theory I can get behind
> **Force majeure** is a contractual clause freeing parties from liability due to extraordinary, unavoidable events—such as natural disasters (“acts of God”), war, or pandemics—that prevent contract performance. Originating from French civil law (meaning “superior force”), it is invoked by proving the event was unforeseeable, external, and insurmountable.
Yeah, so they are taking fields being worked by other nations, and then through the seizure further restricting oil output and flow to the rest of the world. Bold move, and one that will work.
To be perfectly clear, I don’t support Iraq, but they have played their hand quite well.
ETA: fat fingered the country.
Israel and USA creating economic chaos around the globe.
Fuckin a we are winning too much sir, please for the love of god, stop the winning.
What about the oilfields in the north which export through the iraq-turkey pipeline?
Just yesterday North Oil company said they will export 250 000 barrels per day initally with the new agreement between Iraq and Turkey. Other companies have shared similar sentiments.
Are we unironically watching “the third way” dream of nationalized oil revive under *checks notes* the US military industrial complex and Israel????
Does this mean that the oilfields in Iraq that are essentially owned and operated by the US & UK are effectively being nationalized?
No refunds. Force majeure. Read the back of your ticket !
So, USA going to start a war with Iraq as well I guess?
This doesn’t really seem to be going to plan.
So torn between wanting to see the whole economy implode, guaranteeing a MAGA defeat in November, or seeing things somehow inexplicably work out, yet again.
Iraq pulling the “get out of being sued” card
1973 flashbacks
Reuters having a paywall is actually insane to me. I know that’s the business model for media companies these days, but they aren’t just a news site, they’re a wire service.
I heard they were in talks with Turkey to export oil through it, but I guess it’s logistically not possibile to supplant the lost exports through the strait of Hormuz.
I’m not versed in oil production, but can you just stop pumping/refining? I’d think there’s a lot more to stopping and resuming production than just flipping a switch.
Good job Trumpers,now the rest of us will pay double digit gas
the part people are glossing over is what this does to contracts downstream. Iraq ships roughly 3.5 million bpd through Hormuz. the Turkey pipeline up north can handle maybe 350-400k on a good day. force majeure does not make the oil appear somewhere else, it just legally shields Iraq from breach-of-contract claims.
the real domino is refineries that built supply chains around Iraqi crude now scrambling for alternatives. and “alternatives” in a Hormuz-closed world means what exactly? Saudi east-west pipeline? UAE Fujairah terminal? both already priced in and under serious pressure.
this is going to be interesting in the most stressful possible sense of that word.
Eli5: because of the war they’re not able to fulfill the contracts so they’re doing force mejeur and cutting oil production since they can’t get it out anyway?
Can I claim “force majeure” on my taxes since the US government has abandoned the social contract with the American people?