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)

Sep 12, 2017

Hawija offensive hamstrung by Baghdad-Erbil mistrust

Long-standing disputes over Kirkuk and its oil threaten to turn allies against each other as they prepare to chase IS from one of its last strongholds in Iraq.

Sep 11, 2017

Alamri out as head of Iraq’s oil sales

The latest shakeup of Oil Ministry leadership sees longtime SOMO chief replaced with senior ministry official currently focused on financial matters.

Sep 8, 2017

DNO takes Exxon operatorship

The Norwegian oil company will get half of ExxonMobil's stake in the Bashiqa block, one of three contracts it still holds with Iraqi Kurdistan, in the latest confidence-building move that could help the sector regain its momentum.

Sep 7, 2017

New chiefs for Basra Oil and South Gas companies

Iraq's oil minister swapped the leaders at two of Iraq's most important state-run energy companies.

Sep 5, 2017

Oil revenues up, but August exports dip

Iraq is averaging higher-than-expected oil prices so far this year, but is struggling to maintain export volumes as a result of OPEC cuts and disputes with Kurdistan.

Aug 31, 2017

KRG deal settles debts, gives more acreage to Pearl

By settling with Dana Gas and partners, the Kurdistan region avoids tens of billions of dollars of potential liability and commissions massive new gas production within two years.

Aug 30, 2017

Siba preparing year-end commercial gas production

The first successful project from Iraq's third bidding round, in 2010, is on track to reach plateau production within five years.

Aug 28, 2017

July production passes 4.6 mbpd

A review of field and government data for July puts Iraq's nationwide oil fields at a five-month high.

Aug 25, 2017

KRG reaches landmark deal with DNO and Genel

Settlement of outstanding debt in exchange for assets is effectively a reset button for the Kurdistan oil sector, which is likely to quicken pace of production growth.

Aug 17, 2017

IS insurgency targets energy sites, interrupting oil exports

Kirkuk pipeline exports were briefly offline after IS militants bombed high-voltage power lines – one of a dozen insurgent attacks to hit northern Iraq in the past week.