Politics

Iraq grapples with power shortages and Iran sanctions as summer looms

The expiration of a U.S. sanctions waiver on Iranian electricity imports is complicating Baghdad's balancing act between Tehran and Washington, while the government scrambles for power supply ahead of peak demand season.

Workers from the Southern Projects Commission of Iraq's State Company for Oil Projects assemble a pipeline designed to carry regassified LNG imported via the Khor al-Zubair port in Basra to power stations in February 2025. (ALI AL-AQILY/Iraq Oil Report)

Jul 31, 2020

Iraq in talks with Saudi Arabia and Honeywell over Basra mega-deal

Pivoting away from negotiations with ExxonMobil, Iraq is now putting the Ratawi oil field at the center of a prospective upstream, gas, and power deal with Saudi Arabia.

Jul 28, 2020

Kadhimi aims to reign in border corruption

New federal forces have deployed in a campaign to wrest control of border crossings from parties, paramilitary groups, and mafias.

Jul 14, 2020

Production falls further as Iraq pursues OPEC compliance

While the country's output is still over its quota, Iraq has now cut more than 600,000 bpd compared to its first-quarter production average.

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.