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)

May 6, 2025

Iraq oil exports decrease in April

The Oil Ministry has issued major upward revisions of its February and March export figures, while preliminary data show a dip in April.

May 1, 2025

BP deal aims to revamp Kirkuk energy sector

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

Apr 29, 2025

March production rises on Rumaila recovery

Iraq’s biggest oil field has recovered from a January fire, boosting nationwide output but posing a challenge to OPEC-plus quota compliance.

Apr 23, 2025

Iraq terminates Akkas contract, drawing legal threats

Cabinet taps state-run Midland Oil Company as operator for fast-track gas field development with help from SLB, but contentious ouster of Ukrzemresurs could spark litigation.

Apr 17, 2025

Strategic water project makes progress, helped by Chinese financing

A China-Iraq finance program is set to provide billions of dollars for a seawater supply project that promises to enable a transformational increase in Iraq's oil production.

Apr 15, 2025

Q&A: Adnan al-Jaberi, deputy chairman of the Parliament Oil and Gas Committee

The Basra MP talks about the prospects for and obstacles to energy sector development in southern Iraq, Kirkuk, and Kurdistan.

Apr 7, 2025

Iraqi crude exports fall in March

Export volumes declined in March, but Iraq also revised its official February figure sharply upward as OPEC-plus shifts is quota strategy.

Apr 3, 2025

Kurdistan crude export deadlock persists

Hard-liners in Baghdad appear to be rejecting compromise with oil companies in negotiations to reopen the northern pipeline to Turkey.

Mar 29, 2025

Iraqi production declines in February on Rumaila accident

Nationwide output fell by about 60,000 bpd, but appears set to rebound as Iraq's most prolific field recovers from a damaging fire.

Mar 27, 2025

Q&A: Ahmad Salman, deputy president of Syria’s Kurdish Democratic Progressive Party

A veteran of Syria's oil sector — and a political leader in the oil-rich northeast — discusses negotiations with Damascus over the future of the country.