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)

Jul 2, 2018

Iraqi oil exports steady in June though federal revenues fall

Federal oil exports increased, but the oil price pushed down earnings, and Kurdistan tanker loadings slowed due to outages.

Jun 28, 2018

Supreme Court delays crucial oil rights ruling

Kurdistan scolded for late response to court, as both it and federal government instructed to present additional legal arguments.

Jun 22, 2018

Bai Hassan is back online as Iraqi production grows

Kirkuk production has increased, but the Oil Ministry's efforts to find new routes to market for stranded capacity are incomplete.

Jun 21, 2018

Subba field risks shut-down

After just six months in production, the Subba field is faltering due to bureaucratic dysfunction, tight budgets, and insufficient processing infrastructure.

Jun 20, 2018

Oil Ministry order sets INOC in motion

A 12-person committee will study best international best practices and develop recommendations for implementing a new law to re-create the Iraq National Oil Company.

Jun 14, 2018

May production rises to greet high prices

Efforts to tap Kirkuk's stranded capacity and output increases in Basra help Iraq take advantage of recent oil price strength.

Jun 12, 2018

Q&A: Abdul Mahdy al-Ameedi, head of Iraq’s oil contracts

Despite operating under a caretaker Cabinet, the Oil Ministry's contracting chief is trying to sustain momentum on the 5th bidding round and other major projects.

Jun 6, 2018

Chevron takes small step into southern Iraq

After years circling the periphery of Iraq's oil sector, Chevron has signed a non-binding agreement to discuss projects in Basra and Dhi Qar provinces.

Jun 5, 2018

UPDATE: Kirkuk-to-Iran exports stuck at the border

Tanker trucks have taken Kirkuk crude to Iran, eyewitnesses say, but Iraq's Oil Ministry claims the 60,000 bpd export deal is not yet active.

Jun 5, 2018

Court grants final delay in Baghdad-KRG case

A month after requesting a postponement, Iraq’s highest court granted another delay — this one, ostensibly, the last.