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)

Oct 19, 2017

Iraq oil production up as key fields change hands

Nationwide oil production continued its month-on-month increase in September, and the Oil Ministry has plans for that to continue.

Oct 12, 2017

Hashid-Peshmerga battles near Kirkuk raise specter of war

The KRG fears federal Iraqi forces are plotting a "major attack" days after tensions combusted into two, hour-long firefights near the disputed Bai Hassan oil field.

Oct 11, 2017

Iraq aims to rebuild northern pipeline

Massive political challenges and financial constraints cast uncertainty on the Oil Ministry's announcement that it will rehabilitate its decimated pipeline to Turkey.

Oct 5, 2017

Iraqi production continues to rise

Steady month-on-month increases are due to new drilling at the Halfaya field and recovering output from state-run fields.

Oct 3, 2017

Oil exports and revenues up in September

Crude prices rise and loadings increase in both Basra and the Mediterranean.

Sep 28, 2017

Qayarah and Haditha refineries re-open

The Oil Ministry is re-starting the Qayarah refinery, which had temporarily shut due to smuggling concerns, as well as Anbar province's Haditha refinery.

Sep 26, 2017

As Kurdistan casts independence vote, threats loom

The KRG oil sector is in the crosshairs of Iraq's Parliament and Turkey's president, who are seeking to stop the momentum of Kurdish secession after Monday's referendum.

Sep 25, 2017

Showdown turns to oil as referendum dispute intensifies

The day before Monday's Kurdistan independence referendum, Iraq's National Security Council called on the world to respect claims to federal control over oil and borders.

Sep 19, 2017

Kurdistan gets Russian vote of confidence

Besieged by international pressure to delay its independence referendum, the KRG gets geopolitical backup from a Rosneft agreement to underwrite oil and gas export pipelines.

Sep 14, 2017

Shell accelerates Iraq drawdown with Majnoon exit

Negotiations begin over handing back the Majnoon operatorship, months after stake in West Qurna 1 was put up for sale, highlighting one major oil company's resistance to Iraq's tough terms.