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)

Jan 21, 2020

Protests force Nassiriya oil field offline again

For the second time in less than a month, protesters in southern Iraq have impeded staff from accessing the 80,000 bpd oil field.

Jan 20, 2020

Protests around Ahdab threaten production

Ahdab field still producing, officials say, though protesters using road and checkpoint blockages could create logistical obstacles that could shut in fields.

Jan 16, 2020

December production stumbles on temporary Rumaila outage

Iraq finished 2019 with its lowest monthly production average of the year due to OPEC cuts and a brief output drop at its most prolific field.

Jan 15, 2020

Oil workers injured in shootout near Halfaya

A tribal dispute over contracts burst into violence, with field employees caught in the crossfire.

Jan 13, 2020

Oil Ministry shakeup sees new IOC contracts chief and return of ex-Basra oil director

Ameedi's replacement by Maarij is one of many changes as a new retirement mandates kick in and Ghadhban continues staffing reshuffle.

Jan 9, 2020

U.S. sanctions threats cast shadow on Iraqi economy

Billions of oil dollars and access to Iranian power and gas are at risk if Trump rejects a sanctions waiver renewal next month – or worse, if Iraq is sanctioned itself, as he has threatened.

Jan 7, 2020

Iraq again sets oil export record in 2019

Oil sales have jumped by 1 million bpd in the past five years, though future growth prospects are clouded by geopolitical uncertainty.

Jan 3, 2020

Iraqi oil sector holds fast amid storm of U.S.-Iran conflict

Production and exports so far unaffected as some foreign oil workers evacuate, following the U.S. assassination of Qassim Soleimani and Abu Mahdi al-Mohandis.

Jan 3, 2020

December exports fall, but revenues rise on strong oil price

As Iraq throttles back production to meet OPEC quota, higher global oil prices help offset reduced exports.

Dec 31, 2019

Senior brain drain looms for Oil Ministry if federal retirement order goes into effect

Order reflects new labor law mandating retirement age of 60 except for ministers.