Letter from Iraqi finance minister to KRG prime minister offers a one-time, $338 million payment – and continuing negotiations for a new budget deal.
In an era of depressed oil prices and budget disputes, the KRG has lost most of the revenue that underwrites its economy, and has no clear plan for bridging its deficits.
Foreign staff of the Shell-Mitsubishi-Iraq joint venture left the country after local workers protested for unpaid salaries.
The company responsible for distributing much of Iraq's fuel is taking new precautions during the pandemic but operating without interruption.
As the Oil Ministry seeks cost savings and production cuts in response to crashing oil prices, drilling programs are being cut – battering the business of Iraq's state-run drilling company.
A top Basra oil leader reveals which fields are being cut under the new OPEC-plus deal and discusses how Iraq's financial squeeze is affecting BOC projects and planning.
New finance minister takes on oil portfolio after political pressure derailed original proposed by new Prime Minister Mustafa al-Kadhimi.
A comprehensive survey of Iraqi fields suggests the Oil Ministry is targeting about 600,000 bpd of production cuts in May, mostly from fields contracted to international oil companies.
High April export levels were no match for a spiraling oil price down nearly 80 percent since January.
The acting head of the Iraqi state's North Oil Company had been in office since January.
