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)

Dec 6, 2016

Exxon cuts Kurdistan portfolio by half

The American super-major, whose 2011 contracts with Kurdistan spurred an investment bonanza, has relinquished the Qara Hanjeer, Arbat East, and Betwata blocks.

Dec 5, 2016

Q&A: Falah Alamri, director general of SOMO

Iraq's top oil salesman discusses the future of Basra Heavy, the choices necessary to implement the OPEC quota deal, and making more money on Kirkuk oil sales.

Dec 1, 2016

UPDATE: Iraq breaks export records

Federal Iraq posted its highest-ever rate of oil exports, with increases from both south and north.

Nov 23, 2016

Ruined by war, Qayarah refinery could rise again

Before they were driven out of Qayarah, IS militants destroyed a refinery that powered the economy of Ninewa province. Now, it's a focal point in efforts to rebuild.

Nov 14, 2016

Iraq sustains high crude output in October

Estimates show Iraq is producing and exporting oil at near-record levels ahead of OPEC quota discussions.

Nov 11, 2016

Oil Ministry pauses plan to contract 12 fields

Iraq had invited IOCs to bid on new development deals. But now state companies will handle some of those fields, and Iraq will delay contracting others until next year.

Nov 10, 2016

Kurdistan oil revenue rebounds despite export dip

Even with higher oil prices and advance payments from oil traders, revenues still fall short of KRG budget needs.

Nov 9, 2016

Q&A: NOC chief Farid al-Jadir

To raise output from its fields, the state-run North Oil Company needs to contend with a trifecta of security, financial, and political crises.

Nov 8, 2016

Iraqi Parliament starts oil corruption investigation

MPs begin looking into alleged bribery scheme following international media reports implicating former oil ministers.

Nov 7, 2016

Iraq pursues scaled-down water injection project

Oil minister tasks SOC with implementing long-delayed infrastructure project, necessary for Iraq to achieve future oil production gains.