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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)

Oil minister wants new INOC law

A major initiative to restructure Iraq's oil sector appears to be on hold as the new Cabinet prepares to re-draft the legal foundation of the Iraq National Oil Company.

Baghdad-KRG oil case delayed yet again

Dissatisfied with the work of three technical experts tasked with providing analysis, the Supreme Court postpones the six-year-old lawsuit until Dec. 9.