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)

Jan 6, 2022

Iraqi crude exports rise steadily through 2021

Increasing OPEC-plus quotas and a recovery in global oil prices helped Iraq achieve rising crude exports and revenues.

Jan 5, 2022

UPDATE: Cabinet taps INOC to acquire Exxon’s stake in West Qurna 1

Iraq is trying to resolve a dispute over one of its largest oil fields by authorizing the newly formed national oil company to take over ExxonMobil's operating stake.

Jan 5, 2022

Kurdistan’s energy sector 2021: year in review

Crude output fell as payment and regulatory uncertainty put investors on edge, but new activity could lead to production increases in 2022.

Dec 15, 2021

Water shortages prompt RPG fire near Gharraf oil field

As Iraq begins to suffer the intensifying effects of climate change, competition for water threatens to spark conflict.

Dec 15, 2021

Looming arbitration highlights Kurdistan’s gas strategy woes

Genel Energy is taking the KRG to arbitration after years of failure to agree on a plan for developing the Miran and Bina Bawi gas fields.

Dec 12, 2021

$4+ billion debt compounds Kurdistan’s electricity challenges

Power producers in Iraqi Kurdistan are owed huge sums, forcing some to delay maintenance and sending a chilling signal to prospective investors.

Dec 8, 2021

Iraq seeks to diversify power imports as Iran tightens supply

Iraq's electricity service has suffered amidst unreliable gas and power imports from Iran, but efforts are moving slowly to diversify supply via four other neighboring countries due to unresolved pricing negotiations.

Dec 7, 2021

Intensifying IS attacks strike near northern oil fields

In a single week, deadly insurgent operations near the Khurmala, Avana, Bai Hassan, and Sarqala oil fields showcase IS's firepower and persistence.

Dec 2, 2021

Iraqi exports rise as OPEC continues quota increase

Iraq's November exports increased, but oil revenues dipped because of falling global crude prices.

Nov 17, 2021

Climate change comes to Iraq

Unprecedented droughts are drying up farm land, driving migration to cities, and compounding economic hardships and instability.