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)

Mar 24, 2025

Q&A: Montaser Kadhim Haloub, director of SCOP’s Southern Projects Authority

The State Company for Oil Projects is racing to build a pipeline to transport regassified LNG that will be imported via the Khor al-Zubair port.

Mar 23, 2025

Iraq grapples with power shortages and Iran sanctions as summer looms

The expiration of a U.S. sanctions waiver on Iranian electricity imports is complicating Baghdad's balancing act between Tehran and Washington, while the government scrambles for power supply ahead of peak demand season.

Mar 20, 2025

Q&A: Ali Shaddad al-Faris, MP and spokesperson for the Parliament Oil and Gas Committee

An inside view on multiple laws governing oil sector management and new refineries, and political dynamics related to Baghdad-KRG oil and budget issues.

Mar 7, 2025

New SOMO director named as Iraq reshuffles oil sector leadership

Ali Nazar al-Shatari will be Iraq's new head of oil marketing as the Sudani government makes changes across several top oil posts.

Mar 6, 2025

Disputes between Baghdad and IOCs keep northern oil exports offline

One month after Parliament passed legislation designed to help restart the pipeline to Turkey, implementation is mired in old disagreements.

Mar 4, 2025

February oil exports rise as OPEC-plus signals strategy shift

Iraq’s export volumes increased slightly month-on-month though revenues dipped as prices softened.

Feb 25, 2025

January oil output rebounds

After steady declines in the fourth quarter of 2024, the new year started with a rise in production and modest gains in export volumes.

Feb 20, 2025

New Syria oil trade begins, despite political volatility

Syria's autonomous Kurdish-led enclave has revived an energy trade supplying oil and gas to territory controlled by the transitional government in Damascus.

Feb 13, 2025

Baghdad court ends Oil Ministry challenge to KRG oil contracts

Kurdistan's oil companies cemented a legal victory as the final avenue for appeal has closed.

Feb 12, 2025

Q&A: Ali Qais Abdul Jabbar, director general of the Iraqi Oil Tankers Company

The IOTC chief discusses exports of heavy fuel oil and Qayarah crude, and ambitions to expand Iraq's fleet of oil tankers.