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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)
Aug 1, 2017

Baghdad pursues Kirkuk-Iran pipeline

After voicing opposition to the KRG's independence referendum, Iran contemplates a deal that could shift the balance of power in Iraq's disputes over territory and oil.

Jul 27, 2017

Chinese consortium in talks over Nassiriya deal

Iraq's Oil Ministry starts direct negotiations with PetroChina and CNOOC for a long-delayed, massive project to build a 150,000 bpd refinery and develop the Nassiriya field.

Jul 26, 2017

Iraq production shoots up in June

An independent analysis shows rising output from state-run fields in Basra lifted Iraqi production by nearly 100,000 bpd, as a monitoring committee meets and assesses OPEC quota compliance.

Jul 21, 2017

Head of Dhi Qar Oil Company replaced

Ali Warid Hamoud, formerly of the Missan Oil Company, is the third director general appointed to lead the newly formed DQOC in less than four months.

Jul 10, 2017

Iraq opens border blocks for new investment

Foreign oil companies are invited to propose contracts – though not production sharing – for eight exploration blocks on the borders with Iran and Kuwait, as well as one offshore exploration block.

Jul 1, 2017

Oil export plateau continues in June

Iraqi exports have remained steady since February - and well below capacity - as the government maintains its efforts to support an OPEC cut agreement.