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?
| Crude Output | 4.63 | mn b/d |
| Crude Exports | 3.95 | mn b/d |
| O&G Export Rev. | 87.8 | $bn |
| O&G % Export Rev. | - | % |
6 Nov, 2020
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Iraq produced 3.9mn b/d in October as exports soared by 263,000 b/d in a bid to boost precarious finances. But MEES calculations indicate the rewards were meagre.
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