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.

Iraq Crude Burn (‘000 B/D) Realized A Rare Fall In 2017 And Is Set To Tumble In 2018...
Iraq: Higher Oil Prices And Rising Exports Propel Revenues To 3-Year High
IOCs’ Share Of Export Revenue Set To Reach Record High In 2016 ($Bn)