Energy

Iraq seeks backup export options as Basra loadings falter

Cabinet orders emergency package for boosting oil sales after dropping to a multi-decade low in May.

Iraqi Prime Minister Ali al-Zaidi (center right), Oil Minister Bassim Mohammed Khudair (far left), and Foreign Minister Fuad Hussein (second from left) confer at a Cabinet meeting in Baghdad on June 2, 2026. (Photo credit: Oil Ministry)

Feb 10, 2026

Iraq oil exports flat in January

Export volumes held steady in January while revenues appeared to increase slightly on higher global crude prices.

Feb 10, 2026

Q&A: Ali Salman Majeed, director general of the South Gas Company

Southern Iraq's top gas official gives status updates on the recently expanded Basra Gas Company and other associated gas capture projects at Ratawi, Bin Omar, and Nassiriya.

Jan 29, 2026

Q&A: Habib Abdul Amir, director of the Shuaiba refinery’s FCC project

A major upgrade for Basra's flagship refinery is coming online, promising to boost high-octane gasoline supplies.

Jan 28, 2026

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.

Jan 25, 2026

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.

Jan 13, 2026

Iraq seeks backup options for West Qurna 2

As a sanctions deadline looms, Basra Oil Company is poised to manage the 480,000 bpd field while Lukoil continues negotiating to sell its stake.

Jan 10, 2026

Taq Taq oil field resumes production

Once a crown jewel of Kurdistan's oil sector, the Taq Taq field had been entirely offline for more than two years.

Jan 8, 2026

Iraq’s 2025 oil exports steady as renewed Turkey flows offset Basra dip

Nationwide crude export volumes increased slightly in 2025, but annual revenues fell by $14 billion due to weaker global prices.

Dec 30, 2025

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.

Dec 18, 2025

Chevron eyes Lukoil’s Iraq assets

The American company is emerging as the leading contender for the 480,000 bpd West Qurna 2 field as U.S. sanctions appear to be squeezing Lukoil out of Iraq.