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)

Jul 26, 2025

Iraq crude production strong in June

Operational disruptions caused by the Israel-Iran war do not appear to have affected Iraqi crude output, which was virtually unchanged from May to June.

Jul 24, 2025

New hope for Baghdad-KRG oil and budget deal

Federal financial transfer signals political will to implement an agreement that could result in re-starting northern oil exports, though further hurdles remain.

Jul 22, 2025

Turkey signals end of Iraq-Turkey Pipeline treaty

The agreement will now expire in July 2026, raising new questions about the future of oil exports from northern Iraq and the Kurdistan region.

Jul 17, 2025

Cabinet approves revived plan for re-starting northern exports

A new deal for oil and budget cooperation between Baghdad and Erbil faces significant challenges to implementation, including crippling attacks on Kurdistan's oil sector.

Jul 16, 2025

Kurdistan oil sector under attack

Drones struck Tawke and Ain Sifni on Wednesday, marking three consecutive days of attacks on Kurdistan oil fields.

Jul 15, 2025

Drones strike Kurdistan oil fields

Attack on HKN-operated Sarsang field coincides with the company's signing of a preliminary upstream deal with the federal Oil Ministry.

Jul 14, 2025

Q&A: Ali Shaddad al-Faris, MP and spokesperson for the Parliament Oil and Gas Committee

Longtime energy MP talks about U.S. pressure on Baghdad and Erbil, the blame he places on KRG oil tactics, and the upside of the sitting oil minister entering elections.

Jul 9, 2025

Baghdad-KRG stalemate continues over oil disputes

Budget transfers to Kurdistan have been frozen since May as negotiations to restart oil exports falter.

Jul 7, 2025

Iraq oil exports steady in June

Iraq's crude sales held steady month-on-month despite minor disruptions apparently stemming from the Israel-Iran war.

Jul 3, 2025

Drone attacks signal elevated risks for Kurdistan

A barrage of drone attacks in the past four days highlights rising security threats stemming from regional conflicts and Baghdad-Erbil political tensions.