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)

Jun 23, 2022

Rocket attack targets Khor Mor gas field

The latest strike on the KRG's energy sector narrowly missed gas facilities that provide most of Kurdistan's electricity feedstock.

Jun 23, 2022

Erbil court postpones case against Oil Ministry leaders

Defending its oil sector independence, the KRG has so far succeeded at entangling Baghdad's legal offensive in procedural delays.

Jun 20, 2022

Court again delays Baghdad lawsuit against Kurdistan IOCs

Baghdad's Commercial Court again postponed the Oil Ministry's lawsuit against seven oil companies operating in Kurdistan.

Jun 16, 2022

Iraqi crude output falls 79,000 bpd in May

OPEC's second-largest producer is struggling to take advantage of loosening quotas and spare capacity due to infrastructure bottlenecks.

Jun 14, 2022

Q&A: Finance Minister Ali Allawi

Allawi discusses ending Kurdistan budget transfers, new expenditures under a stop-gap spending law, power payments to Iran, and implementing a Chinese financing deal.

Jun 14, 2022

Baghdad threatens Kurdistan oil contractors with blacklist

Expansive policy targets both IOCs and sub-contractors, raising pressure on Kurdistan's oil sector amidst legal battles.

Jun 9, 2022

Kurdistan opens new front in Baghdad legal battles

A new lawsuit filed in Erbil could complicate the Oil Ministry's legal action in Baghdad against Kurdistan's oil companies.

Jun 8, 2022

Iraq exports dip but revenues hit new record

Monthly oil revenues topped $11 billion, boosted by high global prices, but export levels slipped as Iraq bumps up against infrastructure constraints.

Jun 5, 2022

Court postpones hearing in case against Kurdistan’s IOCs

Oil companies did not send authorized representatives to court Sunday, prompting a delay in the Oil Ministry's new lawsuit seeking to enforce a landmark ruling against Kurdistan's oil sector.

Jun 2, 2022

Baghdad launches legal action against Kurdistan’s oil companies

IOCs summoned to appear in federal commercial court as Oil Ministry also signals international legal campaign against Kurdistan's oil sector independence.