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 9mn b/d capacity by 2029, double current levels. 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?
2020 In Numbers*
| Crude Output | 4.01 | mn b/d |
| Crude Exports | 3.00 | mn b/d |
| Crude Export Rev. | 41.8 | $bn |
| Gross Gas Output | 2.57 | bn cfd |
*ALL EXCEPT CRUDE OUTPUT EXCLUDE KRG.
19 May, 2023
Featured
Iraq Launches Bidding Round 5-Plus
Baghdad is capitalizing on the February ratification of its 2018 fifth licensing round with an additional five+ round of 13 mostly-modest exploration blocks.
Iraq’s Fifth ‘Plus’ Bidding Round Blocks & Fields
NEWS IN BRIEF
Boskalis Wins Crucial Iraq Pipeline Contract
2 Jun, 2023
Iraq Finalizing Details For Sixth Licensing Round
26 May, 2023
Iraq-Turkey Crude Exports Set To Resume?
12 May, 2023
Iraq Inches Towards Northern Export Restart
5 May, 2023
Iraq: Sinopec Back At Mansuriya?
28 Apr, 2023
Iraq’s Gharaf: Gas Award
28 Apr, 2023
Iranian-Iraq Gas Exports Up
28 Apr, 2023
SELECTED DATA
1: Iraq Refinery Output Is Up As Opec Cuts Ease, But Fuel Oil Still Makes Up Nearly 50% Of The Total (‘000 b/d)
2: Iraq Imports Of Refined Products (‘000 b/d): Gasoline Makes Up The Lion’s Share, Around 50,000 b/d
Iraq's Gas Flaring Has Stabilized At 50% Of Gross Output (bn cfd)
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