Middle East
Iraq
Iraq is now Opec’s second largest producer after major capacity gains propelled it well clear of its nearest rivals. Major refining investment is required to end costly products’ imports.
State of Play
Opec's second biggest oil producer plans 9mn b/d capacity by 2029, double current levels. But burdensome ‘technical service contracts’ have scared off many IOCs, and Baghdad is increasingly turning to its national oil companies for development. Will Iraq’s new government rise to the immense challenges facing the country’s upstream, downstream and powergen sectors?
2020 In Numbers*
| Crude Output | 4.01 | mn b/d |
| Crude Exports | 3.00 | mn b/d |
| Crude Export Rev. | 41.8 | $bn |
| Gross Gas Output | 2.57 | bn cfd |
*ALL EXCEPT CRUDE OUTPUT EXCLUDE KRG.
9 Jul, 2021
Featured
Iraq’s Oil Sector Challenges Laid Bare
A grueling three-hour parliamentary grilling shows Iraq’s energy minister has an uphill task to maintain IOC investment, given parliamentary opposition to any concessions to a business-friendly environment. Opposition to Chinese investment and corruption at state firms were other key themes.
Iraq Oil Fields & Infrastructure
NEWS IN BRIEF
Iraq Oil Revenues Hit Post-Covid High
2 Jul, 2021
Iraq Oil Revenues Hit 16 Month High
11 Jun, 2021
IS Attacks Iraq’s Bai Hasan
7 May, 2021
SELECTED DATA
Federal Iraq's Export Revenues Dropped Slightly In April As Oil Prices Weakened
Iraq’s April 2021 Basrah Exports (‘000 b/d): India Took A Bumper 1.2mn b/d, 42% Of The Total
Iraq's Gas Flaring Has Stabilized At 50% Of Gross Output (bn cfd)
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