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 7, 2018

Q&A: Ibrahim Bahralolom, MP and former oil minister

Following the passage of seminal legislation to resurrect the Iraq National Oil Company, one of the principal authors discusses how it will reshape the country's oil sector.

Mar 5, 2018

Parliament re-establishes Iraq National Oil Company

New legislation could restructure the oil sector, creating a new executive body for field management and limiting the Oil Ministry to strategic policy and regulatory functions.

Mar 4, 2018

2018 budget passes despite Kurdish boycott

Iraq's new $88 billion budget reflects a widening political divide between Baghdad and the Kurdistan region.

Mar 1, 2018

February exports climb, despite hurdles

Southern Iraq oil sales slightly decreased compared to January, but Kurdistan exports from storage pushed nationwide monthly averages up.

Mar 1, 2018

Kirkuk oil still hostage to political stalemates

Kurdistan's export pipeline to Turkey is the key to unlocking stranded Kirkuk production, but Baghdad, Erbil, and Ankara cannot agree on terms.

Mar 1, 2018

Zubair field set to kick off year-on-year growth

New infrastructure is nearly complete, with more to come, and the Eni-operated field will start adding 100,000 bpd this and next year.

Feb 22, 2018

January production steady

Rising production from state-operated projects helped compensate for temporary disruptions at the West Qurna 1 field.

Feb 21, 2018

State efforts bring Subba oil field online

Newly-formed Dhi Qar Oil Company hits commercial production target despite technical hurdles at 1.13 billion barrel field.

Feb 20, 2018

Iraq refineries resurgent

Investors have been wary of multi-billion-dollar refinery tenders, but that hasn’t stopped the Oil Ministry from bringing vital new capacity online.

Feb 13, 2018

January exports dip, revenues rise

Higher global oil prices helped Iraq compensate for a slight decline in exports.