A new behemoth or the reform Iraq needs?
Parliament has passed a law to re-create Iraq National Oil Company. It faces opposition
"We have to make reforms. Maybe not with 100% success. But we have to start. Don't just sit there and criticise—get in the middle of the politics." Ibrahim Bahr al-Ulloum is speaking as he sits on a sofa in his home in Baghdad's al-Jadriya district. An enormous tray of fruit rests on the table between us. As if to prime his argument, a sudden power cut switches off the lights and fans. Iraq's energy sector has made much progress in recent years-but electricity supply is still erratic, even in the house of a powerful parliamentarian and former oil minister. But Ulloum is feeling optimistic. After years of debate, parliament in early March passed a law to re-create Iraq National Oil Company (I
Also in this section
13 March 2026
Brussels is again weighing a cap on gas prices amid the Hormuz crisis, but the measure could backfire by deterring the LNG cargoes Europe urgently needs
12 March 2026
Emergency oil stocks provide a last line of defence to oil market shocks, so the IEA’s unprecedented 400m bl release represents something of a double-edged sword
12 March 2026
LPG could rapidly expand access to clean cooking across Africa and prevent hundreds of thousands of deaths from indoor air pollution each year, but infrastructure shortages and regulatory barriers are slowing investment and market growth
11 March 2026
Missiles over Dubai and disruption in Hormuz are testing the emirate’s reputation—and shaking the energy hub at the centre of the Gulf economy
