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)

Apr 1, 2022

Q&A: Ihsan Ismaael, Oil Minister and President of INOC

Iraq's top oil leader discusses implementation of a mega-deal with TotalEnergies, ExxonMobil's exit, and the aftermath of a landmark court ruling on Kurdistan's oil sector.

Mar 31, 2022

Baghdad outlines plan for takeover of Kurdistan oil sector

To implement a landmark Federal Supreme Court decision, the Oil Ministry proposes steps to begin federal oversight of KRG oil and gas operations. Kurdish leaders remain defiant.

Mar 28, 2022

Iraq gets renewed 120-day U.S. waiver for Iranian energy imports

After years of failure to develop sufficient domestic energy supplies, Iraq still depends on unreliable imports from Iran that require special exemptions from U.S. sanctions.

Mar 23, 2022

Iraq’s oil production up 200,000 bpd in February

Iraq remains ready to expand production pending OPEC-plus allowances and ongoing field maintenance.

Mar 21, 2022

Export bottlenecks limit Iraq’s oil production potential

As OPEC-plus quotas lift, decades of infrastructure neglect have left Iraq poorly positioned to take advantage of prolific oil fields, high prices, and a market desperate for more crude.

Mar 18, 2022

Parliament vote signals uphill battle for Ismaael and INOC

A recent vote to remove the oil minister as the head of the Iraqi National Oil Company highlights political headwinds for Ihsan Ismaael's efforts to restructure the oil sector and maintain a foothold beyond the transition to a new government.

Mar 8, 2022

Uncertainty deepens after landmark ruling against Kurdistan’s oil sector

Baghdad and Erbil have vastly different strategies for responding to a ruling from Iraq's highest court that invalidated the legal foundations of Kurdistan's oil sector.

Mar 6, 2022

Iraq rebounds from temporary oil field outages

The West Qurna 2 field is scheduled to return from maintenance sooner than expected, and the Nassiriya field is back online a week after protest-related disruptions.

Mar 2, 2022

Iraq’s February oil exports rise

Monthly revenues hit another 10-year high as exports rebounded from a January dip and global oil prices spiked.

Mar 2, 2022

TotalEnergies mega-deal with Iraq hits snag over state participation

Iraq wants to take a 40 percent stake in the $27 billion deal, but finalizing terms could prove difficult before a new government takes shape.