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)

Energy

Iraqi production rises in 2025 as OPEC-plus eases quotas

Nationwide output increased year-on-year as Iraq's domestic refineries continued providing an elastic and expanding source of demand.

Politics

Iran protests bring new volatility to Iraq’s politics and markets

Rising threats to Iran's regime have the potential to weaken Tehran's influence in Baghdad and disrupt cross-border trade and currency dynamics.

Security

Kurdistan refinery protests spark deadly violence

At least one person is dead and several injured after security forces cracked down on unemployed truck drivers demanding work at the Lanaz refinery near Erbil.

Interviews

Q&A: Khalid al-Battania, managing director of Basra Gas Company

The head of Iraq's signature gas processing project discusses efforts to secure the supplies needed to exploit BGC's expanded capacity.