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. | - | % |
7 Aug, 2020
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Iraq crude production is at a five year low, but more is required to meet Opec+ commitments. Despite greatly reduced exports, revenues have more than doubled since the dark days of April.
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