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)

Mar 1, 2022

Q&A: Ali Shaddad al-Faris, MP from Basra

One of the plaintiffs in the landmark Federal Supreme Court case against Kurdistan's independent oil sector discusses fallout from the ruling as well as Parliament's role in energy sector oversight.

Feb 26, 2022

Protests shut down Nassiriya field

The 60k bpd field is the second in two days to stop production amid global supply concerns as Russian war in Ukraine continues.

Feb 24, 2022

West Qurna 2 offline for maintenance until mid-March

The 400,000 bpd field is entirely shut down for scheduled upgrade work, likely causing a short-term dip in Iraqi output at a sensitive time for oil markets.

Feb 23, 2022

Dhi Qar unrest raises oil sector risks

Protesters are threatening to shut down the Nassiriya field, and deadly violence has caused one American company to suspend oil operations in the province.

Feb 20, 2022

Q&A: Hossam Hussein Walli, director general of the South Refineries Company

An expansion of Iraq's largest refinery is re-starting after a two-year delay, but other projects are in limbo because high crude prices are squeezing margins for the state-run company.

Feb 17, 2022

Iraq’s January oil output down by 160,000 bpd

Bad weather at southern export terminals disrupted tanker loadings and forced shut-ins at oil fields, but spare capacity is ready to come online as OPEC quotas rise.

Feb 15, 2022

UPDATE: Iraqi Supreme Court strikes down KRG oil sector independence

Landmark ruling rejects the legal pillars of Kurdistan's oil sector, opening a volatile new chapter in Iraq's long-standing disputes over oil powers.

Feb 14, 2022

Karbala refinery nears completion

After years of financing challenges and delays, the Karbala refinery is almost ready to start producing high-quality fuel to feed rising domestic demand.

Feb 12, 2022

KRG imposes major new pipeline fees on companies

Increased tariffs are set to cost oil-producing companies millions of dollars per month — the latest headwind for Kurdistan's oil sector investors.

Feb 9, 2022

Q&A: Hatim Abdul-Imam Khudair, director for West Qurna 2

A 200-well driling plan aims to double production at one of Basra's largest fields — including high-value light crude from a relatively untapped reservoir.