Payment delays to oil companies and bureaucratic disarray have kept the KRG from meeting its own ambitious target for ending the wasteful and polluting practice at several fields.
The new rate, which takes effect immediately, aims to ease financial strain on Iraqis but could make Iraq more vulnerable to future crises.
"Goodwill gesture" keeps the door open to further negotiations ahead of a Feb. 15 deadline, but key points of contention still appear unresolved.
A draft ruling is pending approval by the International Court of Arbitration, with Kurdistan's oil independence potentially hanging in the balance.
Hayyan Abdulghani's leadership team is taking shape, with some high-profile promotions and departures.
Iraq's highest court ruled against stop-gap financial transfers seen as key confidence-building measures in a sputtering rapprochement between Baghdad and Erbil.
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.
Turkey’s latest military campaign is targeting energy infrastructure in northeast Syria, depriving the Kurdish-led autonomous region of fuel and power — and potentially export revenue.
The 2023 national budget is the first test of the new Iraqi prime minister's pledge to improve relations between Baghdad and Erbil.
The PUK leader discusses deteriorating political rivalries within Kurdistan and their impact on both gas development and impending negotiations with Baghdad over oil rights.
