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)

Apr 17, 2019

Oil Ministry bars Petrofac from gas project

After a former Petrofac executive pled guilty to paying bribes in Iraq and Saudi Arabia, the Oil Ministry has ordered an end to negotiations over the Ratawi gas hub.

Apr 16, 2019

Q&A: Bahaa Nima Abid, acting director of the Siba gas field

The first of federal Iraq's three gas fields awarded in a 2010 bidding round is now nearly ready for commercial production, helping the country become a sustainable producer of electricity.

Apr 11, 2019

Hadi al-Amiri appointed “czar” of Basra

The prime minister has tapped Amiri - the paramilitary commander-turned-political maverick - to coordinate an array of urgent initiatives in Iraq's oil capital.

Apr 10, 2019

Q&A: Ihsan Ismaael, Basra Oil Company director general

Basra's oil chief discusses efforts to protect Majnoon from flooding, plans for developing new capacity, and the field's place in Iraq's production strategy.

Apr 4, 2019

Prime ministers refrain from endorsing oil lawsuit

The top leaders in Baghdad and Erbil declined to sign legal arguments as requested by Iraq's highest court, signaling tepid interest in continuing a landmark court battle.

Apr 2, 2019

Basra export outages dent March oil sales

With production already constrained by OPEC cuts, Iraq's exports dipped even further as three days of bad weather disrupted Basra Gulf tanker loadings.

Mar 29, 2019

Q&A: Ramesh Valluri, Sonangol’s General Manager for Iraq

Despite security constraints and bureaucratic frustrations, the Angolan firm is bullish on production gains at the Qayarah oil field and is pursuing a nearby refinery project.

Mar 27, 2019

February production falls as OPEC cuts begin to bite

With reduced output at state-run fields, Iraq moves toward compliance with a quota designed to lift global prices.

Mar 20, 2019

UPDATE: Flooding threatens Majnoon field

Iraq risks losing over 100,000 bpd of production as flood waters overcome failing infrastructure.

Mar 19, 2019

U.S. grants Iraq another Iran sanctions waiver

Another 90-day waiver allows for critical power purchases as Iraq tries to balance relations between rival powers.