Middle East


Opec's second biggest oil producer plans 6.5mn b/d output by 2022, up from around 4.5mn b/d now. But burdensome ‘technical service contracts’ have scared off many IOCs. Majors showed little interest in Iraq’s 2018 bid round, and Shell is offloading its Majnoon stake. Massive potential, but better terms needed.

Crude Exports (Mn B/D) From The Gulf* Edge Back To 18mn B/D In 2018…
Iraq: Export Revenues ($bn) On Pace Of 2014 Levels In 1H 2018
Record Supplies Of Gas (MN CFD) To Power Plants Help Curb Iraq Liquids ('000 B/D) Power Generation Burn