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 6mn b/d output by 2020, up from around 4.65mn b/d now. 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?

2018 In Numbers

Crude Output	4.52	mn b/d
Crude Exports	3.82	mn b/d
O&G Export Rev.	83.7	$bn
O&G % Export Rev.	84	%

Geopolitical Risk

8 Nov, 2019

Featured

Iraq Instability Casts Dark Cloud Over Oil Sector

Iraq protests are escalating as they enter their second month. With infrastructure and transport routes blocked, disruptions to the oil sector are set to increase.

Iraq Federal Crude Exports ('000) Fell To 7-Month Low In October And Could Fall Lower Due To Protests

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NEWS IN BRIEF

Iraq: Ghadhban Continues Shakeup

15 Nov, 2019

KRG’s Attrush Hits 45Kbd

25 Oct, 2019

Basra Oil Company Chief Sacked

18 Oct, 2019

Rosneft Advances KRG Oil

18 Oct, 2019

Protests Engulf Iraq

4 Oct, 2019

Taqa Issues $500mn In Bonds

4 Oct, 2019

India: Bumper Iraq Buying

27 Sep, 2019

KRG: Chevron Awards Sarta CPF Contract

6 Sep, 2019

Federal Iraq’s May Crude Exports Top 3.5mn B/D, Pushing Export Revenues ($Bn) To 7-Month High

Iraq's Sales Gas Output Hits New Records As It Cuts Down On Flaring Rates (Mn Cfd)

Iraq Rig Count Hits 73 For April, Highest Level Since 3q 2014 Oil Price Slump, As IOCS Step Up Investment In Both KRG And Basra

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