Politics

Cabinet advances proposal for northern oil export restart

Iraq's main political factions appear to have an initial agreement for paying Kurdistan's oil companies for exports, but legislative, legal, and practical hurdles remain.

Iraqi Prime Minister Mohammed Shia al-Sudani (right) and KRG Prime Minister Masrour Barzani (left) speak at a ceremony for the signing of a framework deal to restart Iraq's northern exports in Baghdad on April 4, 2023. (Photo credit: Prime Minister's Office)

Jun 26, 2020

Parliament passes $18 billion emergency financing law

Without the legislation, Iraq would not have enough cash to pay public-sector employees.

Jun 12, 2020

Low prices and payment delays reverse two-year expansion of Kurdistan’s oil sector

The KRG's production is falling as cash flows dry up and companies pare back investment.

Jun 6, 2020

Parliament approves Ihsan Ismaael, Fuad Hussein, and rest of Iraqi Cabinet

PM Mustafa al-Kadhimi has completed his 22-minister government, can focus on financial crisis and rising pandemic cases.

Jun 4, 2020

Basra oil chief nominated as oil minister

Ihsan Ismaael, head of the Basra Oil Company, has been tapped to lead Oil Ministry pending vote in Parliament.

May 22, 2020

Baghdad offers Kurdistan payment tied to budget talks

Letter from Iraqi finance minister to KRG prime minister offers a one-time, $338 million payment – and continuing negotiations for a new budget deal.

May 21, 2020

Financial free fall threatens Kurdistan’s stability, oil sector

In an era of depressed oil prices and budget disputes, the KRG has lost most of the revenue that underwrites its economy, and has no clear plan for bridging its deficits.

May 11, 2020

Q&A: Basra Oil Company Deputy Director General Khalid Hamza Abbas

A top Basra oil leader reveals which fields are being cut under the new OPEC-plus deal and discusses how Iraq's financial squeeze is affecting BOC projects and planning.

May 10, 2020

Ali Allawi to be acting Iraqi oil minister

New finance minister takes on oil portfolio after political pressure derailed original proposed by new Prime Minister Mustafa al-Kadhimi.

May 8, 2020

Iraq orders new OPEC cuts targeting IOC fields

A comprehensive survey of Iraqi fields suggests the Oil Ministry is targeting about 600,000 bpd of production cuts in May, mostly from fields contracted to international oil companies.

May 6, 2020

UPDATE: No oil minister yet in Mustafa Kadhimi’s new government

Kadhimi and 15 members of his Cabinet were approved by Parliament early Thursday but political disputes blocked an oil minister from being nominated and others from passing.