Abrams hit by insurgent AT rocket (RPG-7??) and on fire. (this is what the original caption said, and i know those are wrong 4 out of 5 times)
The name
Cojone Eh on the tank barrel identifies this as the Abrams lost during the April 5, 2003 "Thunder Run" into Baghdad.
According to the book
Thunder Run by Mark Zucchino, the Abrams was hit in the rear armor by a 90mm recoilless rifle, which started a fire in the engine block. None of the crew were injured. They tried to put out the fire (which is what you see in that picture) but the hot engine kept re-igniting dripping fuel from a ruptured line. They decided to destroy the tank and move on to prevent its capture by the Iraqis.
To destroy the tank, they threw thermite grenades down the hatches, then another Abrams shot the tank with a few 120mm rounds. Then after the crew had moved on an A-10 put a Maverick through the roof.
Here's what it ended up looking like:
Note that it's still recognizable as an Abrams, after being hit by a 90mm round, engine fire, thermite grenades, internal ammo explosion, several 120mm rounds and a Maverick missile.
Compare this to the Iraqi Asab Babil (license built T-72), where an armor-piercing hit tended to cause an internal ammo explosion that blew off the turret. Here's an example outside Baghdad in 2003: