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)

Jun 23, 2025

Iraqi oil sector weathers Iran conflict

Production and exports have not suffered major interruptions so far, but exodus of foreign oil workers and border closures highlight risks of disruption.

Jun 22, 2025

Iraq oil production rises in May

Recovery at Rumaila and surging Kirkuk fields power slight increase in national production.

Jun 13, 2025

New leadership for South Gas Company

Ali Salman Majeed is named interim head of the state company responsible for boosting domestic gas supply and ending flaring in southern Iraq.

Jun 2, 2025

Iraq’s May oil exports decrease in nod to OPEC-plus commitments

Exports fell by 87,000 bpd month-on-month as Iraq signaled its intention to adhere to production pledges and support global oil prices.

May 30, 2025

Baghdad threatens to choke off KRG funding

Political tensions skyrocket after recently announced gas deals, resulting in legal challenges and threats to Kurdistan's budget.

May 23, 2025

Iraq signs another major integrated energy deal

Basra's Tuba oil field is the centerpiece of a Chinese-Iraqi consortium's mega-deal that includes upstream, refining, petrochemicals, and power generation.

May 21, 2025

Q&A: Farhan al-Fartousi, director general of the General Company for Ports of Iraq

Iraq is expanding its port capacity, including a fast-track project to import liquefied natural gas in time for this summer's peak electricity demand season.

May 21, 2025

New KRG gas deals draw condemnation from Baghdad

U.S. firms HKN and WesternZagros have signed agreements for upstream gas development at the Miran and Topkhana fields.

May 14, 2025

April production drops as Iraq trims from Basra

Oil Ministry cuts output at Majnoon and other state-run southern fields in effort to meet OPEC-plus expectations.

May 9, 2025

Q&A: Hassan Mohammed Hassan, director general of the Iraqi Drilling Company

The new leader of Iraq’s state-run well drilling firm discusses plans to expand its rig fleet and increase revenues.