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)

May 20, 2017

Bombers intercepted near Basra oil fields

After encountering heightened security on the outskirts of Basra, near the Rumaila oil field, two suicide attackers blew up their car bombs.

May 16, 2017

Dhi Qar Oil Company hits political turbulence

Employees of Iraq's newest state oil firm say its creation was driven by political timetables and marred by insufficient planning.

May 13, 2017

Crest to buy WesternZagros

Kurdistan's oil sector has been plagued by financial crisis and other setbacks, but the deal announced Friday suggests some investors are seeing value and opportunity.

May 10, 2017

Arrests made in Kirkuk gas official’s assassination

Iraqi premier claims members of Kurdish police were involved, raising prospect of political motives behind the May 2 attack.

May 9, 2017

Q&A: Deputy Oil Minister Hamid Younis Salih

Iraq's top natural gas official outlines new plans, beyond the scope of Basra Gas Company, to capture associated gas and reduce flaring in southern Iraq.

May 9, 2017

Iraq exports steady in April

Oil sales have stopped falling as Iraq claims full OPEC compliance, suggesting further production cuts are unlikely.

May 2, 2017

Assassins kill North Gas Company deputy DG

The attack echoes a series of assassinations targeting northern oil officials in 2015.

Apr 25, 2017

Production stops falling as Iraq claims OPEC compliance

After steep reductions in January and February, the Oil Ministry appeared to take its foot off the brakes in March.

Apr 12, 2017

Q&A: Ihsan Ismaael, DG of South Gas Company

Iraq is set to increase gas product exports and reach agreements on gas with with IOCs operating southern oil fields, said Ismaael, who is also the chairman of Basra Gas Company.

Apr 5, 2017

After restructuring, South Oil Company is renamed

Now that the Dhi Qar Oil Company has been spun off, the Oil Ministry rechristened SOC as the Basra Oil Company.