Energy

Oil Ministry slashes upstream spending for 2026

Urgent austerity plan aims to cut $1.4 billion from oil field budgets nationwide in 2026 without affecting production — a warning sign of fiscal trouble for Iraq.

Oil Minister Hayyan Abdulghani (center left) and Deputy Oil Minister for Upstream Bassim Mohammed Khdair (center right) meet with Zaid Elyaseri (far left), the president of BP Iraq, in Baghdad on Jan. 26, 2026, to discuss the company's upstream plans and project expenses. (Photo credit: Oil Ministry)

May 6, 2024

Key water project advances, promising to unlock new oil capacity

TotalEnergies and Basra Oil Company are fleshing out their vision for the long-delayed Common Seawater Supply Project.

May 2, 2024

April oil exports dip slightly

Iraq's crude sales have been constrained by OPEC-plus quotas but revenues remain high due to global oil price strength.

Apr 30, 2024

Khor Mor resuming production after deadly attack

Key gas field that fuels most of Kurdistan's power generation is coming back online after urgent talks over security measures to deter chronic attacks.

Apr 26, 2024

UPDATE: Four killed in drone attack on Khor Mor gas field

Four people were killed and two injured in a drone attack that has caused the Khor Mor gas field to shut down, taking three-quarters of Iraqi Kurdistan's electricity supply offline.

Apr 26, 2024

Ukrainian firm takes over Kogas contract for Akkas

Ukrzemresurs agrees to bring the dry gas field to 400 million scf/d production within four years in a deal that also finalizes Kogas's exit.

Apr 19, 2024

Q&A: Ali Shaddad al-Faris, member of the Parliament Oil and Gas Committee

The influential MP from Basra discusses oil disputes with Kurdistan, legislative priorities, and new energy projects in southern Iraq.

Apr 16, 2024

March production continues upward trend

Under quota pressure from OPEC-plus, some Iraqi oil officials argue Kurdistan's production shouldn't count toward national total.

Apr 15, 2024

Momentum for Fao refinery project

Chinese consortium is expected in Baghdad for a signing ceremony this month to finalize a deal for a 300,000 bpd refinery complex.

Apr 11, 2024

Q&A: Hamza Abdul-Baqi, director general of the South Gas Company

Southern Iraq's top gas official gives detailed updates on associated gas capture projects that promise to boost electricity feedstock and reducing flaring.

Apr 10, 2024

Gas capture projects advance as Iraq aims to end flaring

Projects coming online this year could eliminate roughly 40 percent of Iraq’s associated gas flaring — a boost for the country’s economy, power sector, and climate goals.