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Energy

Iraqi production declines in February on Rumaila accident

Nationwide output fell by about 60,000 bpd, but appears set to rebound as Iraq's most prolific field recovers from a damaging fire.

Iraqi Oil Minister Hayyan Abdulghani (center left, red tie) visits the Rumaila oil field on March 2, 2025. (Photo credit: Oil Ministry)

Oil Ministry restructures SOC leadership

Four new deputy DGs will manage Iraq's southern oil sector – part of an apparent effort to quicken decision-making and address political pressures in Basra.

Q&A: SOMO’s Falah Alamri

The head of Iraq's oil marketing authority touts the market's embrace of the new Basra Heavy crude blend, which will account for most of the country's upcoming export growth.

Iraq shatters export records

In combination, Iraq's federal government and Kurdistan region exported about 4 million bpd last month, but both governments still face crippling cash shortages.

Iraq budget moves toward passage

Despite some spending cuts, MPs across the political spectrum criticize the budget for its unrealistic expectations, but also expect it to pass.

Occidental plans Iraq exit

American oil company Occidental Petroleum has formally notified the Oil Ministry it plans to withdraw from the Zubair project.