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 2, 2017

UPDATE: Armed political faction interrupts Kirkuk exports

The "Black Force" special police unit of the PUK party briefly took over Kirkuk's IT-1 facility - a sign of deteriorating intra-Kurdish political rivalries.

Mar 1, 2017

February exports fall sharply

Oil sales are down by about 5 percent since January, as Iraq cuts production to comply with an OPEC agreement and diverts some crude flows to domestic refineries.

Feb 28, 2017

Inside the black heart of IS’s oil sector

On the Mosul outskirts, the IS group's Iraqi oil refining hub – recently seized by Iraqi forces – shows how the militants used savvy management to fuel their killing machine.

Feb 23, 2017

Oil Police expose potential Basra refinery threat

At a checkpoint outside one of Iraq's largest refineries, canine units catch suspected IS operatives driving a tanker truck.

Feb 21, 2017

Rosneft signs landmark deal to buy KRG crude

In a sign that Kurdistan's oil sector is shedding some of its legal and political risk, KRG crude will now supply the refineries of Russia's largest oil company.

Feb 15, 2017

Dana Gas claims further arbitration victory against KRG

London arbitrators open path to another award and reject major KRG counter-claims.

Feb 14, 2017

New deal links Kirkuk oil and KRG refineries

The federal Oil Ministry has begun sending NOC-produced crude to KRG refineries, generating badly needed fuel that will supply areas liberated from IS.

Feb 13, 2017

Fatal explosion at Bai Hassan field

Three workers died when a leaky storage tank exploded at the largest oil field operated by the KRG.

Feb 1, 2017

Exports decline as Iraq begins OPEC cuts

Early data for January indicate Iraq has made significant but incomplete progress toward implementing an OPEC agreement to cut production.

Feb 1, 2017

Taq Taq decline highlights Kurdistan oil woes

Once billed as the crown jewel in Kurdistan's oil sector, the Taq Taq field has suffered from payment delays, reduced investment, and overhyped expectations.