Energy

January oil production inches higher despite Rumaila dip

Nationwide crude production increased by just over 50,000 bpd as state-operated Basra fields ramped up to compensate for a temporary decline at Rumaila.

Deputy Oil Minister Bassim Mohammed Khudair (center) and Basra Oil Company Director General Bassim Abdul Karim (right) tour part of the Ratawi project led by TotalEnergies in February 2026. (Photo credit: Oil Ministry)

Feb 1, 2023

TotalEnergies starts Iraq exit as negotiations falter

The death of the $27 billion deal would represent a multi-year setback in Iraq’s efforts to boost production of oil, gas, and electricity.

Jan 31, 2023

Iraq-Turkey arbitration moves one step closer to final ruling

A draft ruling is pending approval by the International Court of Arbitration, with Kurdistan's oil independence potentially hanging in the balance.

Jan 29, 2023

Oil minister appoints new deputies and removes several DGs

Hayyan Abdulghani's leadership team is taking shape, with some high-profile promotions and departures.

Jan 26, 2023

Iraqi court strikes down Kurdistan budget transfers

Iraq's highest court ruled against stop-gap financial transfers seen as key confidence-building measures in a sputtering rapprochement between Baghdad and Erbil.

Jan 19, 2023

Iraqi oil production rebounds in 2022, but faces headwinds in 2023

Output recovered to nearly pre-pandemic levels, but OPEC-plus policy and infrastructure constraints could keep Iraq from making further production gains in the new year.

Jan 17, 2023

Oil Ministry announces refinery investment opportunities — but no policy overhaul

Iraq's legal and commercial frameworks have failed to clinch a major refinery investment deal for 15 years, but a new government is poised to try again.

Jan 16, 2023

Iraq rakes in record $115.7 billion in 2022 oil revenue

High global prices led to record annual oil revenues for both the federal government and the KRG.

Jan 14, 2023

Drone attack signals ongoing threat to Khor Mor

Friday's attack did not cause damage, but it did highlight unresolved security risks to a gas field responsible for most of Kurdistan's electricity feedstock.

Jan 10, 2023

New KRG policy shifts oil price risk onto IOCs

Kurdistan's crude is trading at an increasingly steep discount to global benchmark prices. A new policy seeks to put those costs on oil companies.

Jan 9, 2023

Q&A: Uday Awad, member of the Parliament Oil and Gas Committee

An MP from Basra and influential member of Asaib Ahl al-Haq, Awad outlined his position on foreign oil companies in Iraq and Iran's role in the oil sector.