Politics

New budget law changes threaten Baghdad-Erbil oil deal

Last-minute additions to the budget bill could undermine a new framework for oil and financial cooperation needed to restart northern exports and support Kurdistan’s oil sector.

Iraqi Prime Minister Mohammed Shia al-Sudani (standing, center right) and KRG Prime Minister Masrour Barzani (standing, center left) oversee a ceremony in Baghdad on April 4, 2023, to sign a temporary deal for restarting northern oil exports. (Photo credit: Prime Minister's Office)

May 25, 2023

Budget loans give KRG financial lifeline

Baghdad has sent nearly $1 billion to Kurdistan since March, highlighting political cooperation that could grow into reliable financial flows with the passage of a new budget law.

May 16, 2023

Northern exports still off as Turkey cites “technical issues”

Iraq is ready to restart pipeline exports and relieve financial pressure on the KRG, but Turkey’s delays are prompting speculation of political complications.

Apr 8, 2023

Analysis: Iraq’s arbitration win reshapes Baghdad-Erbil relationship

Key details of the landmark Iraq-Turkey arbitration ruling have big implications for the future of Baghdad-Erbil power dynamics and the KRG oil sector.

Apr 4, 2023

Baghdad, Erbil sign temporary deal to resume northern exports

Signing ceremony signals strong political backing for agreement, but pipeline flows remain shut as technical details are still being negotiated.

Apr 2, 2023

Progress in Baghdad-Erbil talks over northern export restart

Under a provisional compromise deal, SOMO would take over selling crude and KRG would keep control of its oil revenue.

Mar 25, 2023

Turkey halts Iraq’s northern exports after landmark arbitration ruling

Baghdad's legal victory appears to be altering the balance of power that has enabled Kurdistan's oil sector independence.

Mar 14, 2023

Cabinet passes draft budget with record spending and new KRG framework

Attempting to triangulate between opposing political forces, Sudani also pushes through a long-delayed financial transfer to Kurdistan.

Mar 9, 2023

Oil Ministry eases Kurdistan blacklist pressure

The Sudani administration appears to be turning a blind eye to the blacklist policy enacted by the previous government against KRG oil sector companies.

Feb 28, 2023

New oil law negotiations highlight old divisions

In early talks between Baghdad and Erbil, negotiators have outlined the same points of conflict that have stalled oil legislation since 2007.

Feb 8, 2023

Central bank raises value of Iraqi dinar

The new rate, which takes effect immediately, aims to ease financial strain on Iraqis but could make Iraq more vulnerable to future crises.

Jan 26, 2023

Iraqi court strikes down Kurdistan budget transfers

Iraq's highest court ruled against stop-gap financial transfers seen as key confidence-building measures in a sputtering rapprochement between Baghdad and Erbil.

Jan 24, 2023

As Iraq’s currency weakens, Sudani replaces central bank governor

Iraq's prime minister reshuffles the leadership of the Central Bank of Iraq and the Trade Bank of Iraq amidst efforts to stabilize the weakening dinar.

Dec 13, 2022

Sudani seeks warmer ties with KRG, starting with budget talks

The 2023 national budget is the first test of the new Iraqi prime minister's pledge to improve relations between Baghdad and Erbil.

Nov 18, 2022

Widening divide between Kurdistan’s ruling parties raises new risks

Leaders are openly discussing the dissolution of a strategic agreement for united governance that has underpinned Kurdistan's stability and oil sector independence.

Nov 2, 2022

China positioned to thrive under Iraq’s new government

For the past year an ostensibly grassroots movement with ties to Iran-aligned parties has laid political groundwork for Iraq to embrace China’s Belt and Road Initiative.

Oct 27, 2022

UPDATE: Hayan Abdulghani confirmed to lead Oil Ministry as Sudani takes power

Mohammed Shia al-Sudani formed a government and took office as prime minister, providing initial details on his program for Iraq's energy sector.

Oct 18, 2022

Facing critical threats to oil independence, KRG leaders fail to unify

Violent political disputes bewteen Kurdistan's ruling parties are undermining their leverage in Baghdad at a pivotal time of government formation.

Sep 20, 2022

Court again delays case against Kurdistan IOCs

Gazprom Neft sends lawyer to court, bucking trend of companies ignoring Oil Ministry lawsuits seeking to invalidate KRG oil contracts.

Aug 25, 2022

UPDATE: Baghdad issues new legal threats to block Kurdistan exports

Letter from Iraq's oil marketing company warns of "firm legal action" against participants in the KRG's independent oil trade.

Aug 23, 2022

Kurdistan appeals Baghdad ruling against IOCs

Entering the legal fray as a third party, the KRG is appealing a Baghdad court’s July decision to invalidate four oil contracts.

Aug 9, 2022

Dust storms highlight Iraqi leadership failures as climate crisis worsens

Iraq's most vulnerable citizens are the hardest hit by dust storms, which are growing in frequency and intensity due to both global climate change and government inaction.

Aug 3, 2022

Political upheaval in Baghdad reverberates across oil sector

In the increasingly chaotic struggle to form a new government, Iraq's oil sector has been both a political battleground and a victim of dysfunctional governance.

Aug 2, 2022

KRG shifts legal tactics as Baghdad court delays further rulings

Oil Ministry lawsuits against three IOCs operating in Kurdistan remain undecided as a KRG lawyer asks to join the proceedings as a third party.