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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)

Halfaya gas capture project makes progress

New infrastructure will process 300 million scf/d of associated gas by mid-2024, decreasing the wasteful practice of flaring and increasing feedstock for power generation.

Delays threaten Iraq’s solar ambitions

Norway's Scatec has pulled out of what was once touted as a trailblazing solar project, highlighting the Sudani administration's challenges in reviving momentum on renewable power.