Energy

BP deal aims to revamp Kirkuk energy sector

Iraq is once again leveraging upstream development to finance gas and power projects.

Iraqi Prime Minister Mohammed Shia al-Sudani (standing, center), BP CEO Murray Auchincloss (standing, left), and Oil Minister Hayyan Abdulghan (standing, right) oversee the signing of a deal for BP to rehabilitate Kirkuk oil fields and build gas processing and power generation infrastructure at a ceremony in Baghdad on March 26, 2025. (Photo credit: Prime Minister's Office)

Apr 24, 2020

As Iraq begins oil cuts, steep challenges remain for OPEC compliance

Technical, financial, and political obstacles will make it nearly impossible for Iraq to meet an OPEC pledge to cut 1 million bpd by May 1.

Apr 23, 2020

Baghdad puts KRG budget transfer in the crosshairs

As Iraq descends further into financial crisis, the federal Cabinet and Parliament signal rising opposition to the KRG's monthly budget payments.

Apr 21, 2020

Basra Oil Company warns service companies against layoffs

Memo alleges heavy-handed dismissals of local labor risk relationship with BOC.

Apr 20, 2020

Fields and refineries shut in as Iraq production drops ahead of deeper OPEC cuts

Falling demand forced crude output to two-year lows in March, putting the squeeze on Iraq's oil sector even before a new OPEC quota reduction takes effect.

Apr 16, 2020

Iraq slashing allocations to largest refinery as demand plummets

The move reflects domestic storage limitations and the global demand shock that led OPEC and other producers to drastically curtail output through the rest of the year.

Apr 14, 2020

Cross-border fuel pipeline delayed by Iranian, KRG bureaucratic tangle

Red tape and rivalries have prevented the startup of a short pipeline designed to improve the efficiency of the KRG's fuel imports from Iran while mitigating coronavirus risk.

Apr 7, 2020

Government scrambles for solutions as Iraq faces financial free fall

Confronting low oil prices and a pandemic, Iraq will likely be forced to draw heavily from its foreign currency reserves while slashing oil and investment spending.

Apr 6, 2020

Oil Ministry, MPs condemn rocket attack on oil sites in Basra

Investigators say rocket attack on Iraqi and foreign oil sites was likely part of a broader conflict between paramilitaries and U.S. in Iraq.

Apr 2, 2020

March oil revenues drop sharply, but exports steady

Despite operational disruptions posed by the coronavirus crisis, Iraq maintained its pace of oil exports — but falling global prices sent monthly government revenue to a four-year low.

Mar 30, 2020

Mandatory retirement further strains Oil Ministry capacity

Senior Deputy Oil Minister Fayadh Nema is retiring – the latest top ministry official to leave his post after a new law reduced the mandatory retirement age.