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Energy

Iran reversal on Strait of Hormuz threatens Iraq’s nascent export restart

Iranian forces blocked a tanker carrying Iraqi crude, dampening hopes for a durable resumption of Iraq's southern exports.
The Agios Fanourios I tanker prepares to dock at a single point mooring buoy in the Basra Gulf in April 2026 for the first loading of crude from Iraq's southern export outlets in more than a month. (Photo credit: Ministry of Transportation)

Qayarah field resumes production

After more than a year offline, the Ninewa province heavy oil field is producing about 10,000 bpd, with output trucked to Kirkuk.

Cabinet files legal challenge to 2021 budget

Kadhimi's government is seeking to strike down budget provisions added by Parliament, including new financial rules for state-owned oil companies and fuel import taxes.