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)

Oct 24, 2022

Q&A: Ali Yousif Zaboon, director of field operations at West Qurna 1

Production capacity at the West Qurna 1 oil field is set to increase to 600,000 bpd in 2023 despite operator ExxonMobil’s planned exit.

Oct 21, 2022

Akkas gas field to start production

The field awarded to Kogas to develop in 2010 but then shut down by security issues for nearly a decade has been connected to a nearby power plant by Iraqi state oil and gas workers.

Oct 18, 2022

Facing critical threats to oil independence, KRG leaders fail to unify

Violent political disputes bewteen Kurdistan's ruling parties are undermining their leverage in Baghdad at a pivotal time of government formation.

Oct 14, 2022

Iraqi production stays strong in September, but OPEC-plus cuts loom

Output stays above 4.7 million bpd for third straight month, but reductions are on the horizon as tighter OPEC quotas take effect in November.

Oct 8, 2022

September exports steady as northern oil sales rebound

Revenues fell with global oil prices, but higher export volumes through Ceyhan helped offset a pipeline leak that temporarily halted Basra Gulf tanker loadings.

Oct 7, 2022

Backup plans emerge for Iraqi gas as TotalEnergies faces delays

Political hurdles and unresolved commercial negotiations have set back Iraq's most ambitious plans for associated gas. Smaller projects could start to fill the vacuum.

Sep 28, 2022

Q&A: Dhia Shaker al-Luaibi, director of Majnoon oil field

One of Iraq's largest oil fields is nearly doubling its capacity next year — and, with new seismic work, likely increasing reserves beyond its current 47 billion barrels.

Sep 27, 2022

Q&A: Haidar Fakher Nasser, director of Khor al-Zubair port

Iraq could soon gain a new option for exporting crude with the ongoing expansion of Khor al-Zubair port.

Sep 22, 2022

Iraq’s highest court strikes down INOC

The Federal Supreme Court appeared to end Oil Minister Ihsan Ismaael's fledgling efforts to create an Iraqi National Oil Company, ruling its legal foundations "invalid."

Sep 20, 2022

Court again delays case against Kurdistan IOCs

Gazprom Neft sends lawyer to court, bucking trend of companies ignoring Oil Ministry lawsuits seeking to invalidate KRG oil contracts.