Middle East


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 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?

2018 In Numbers
Crude Output 4.52 mn b/d
Crude Exports 3.82 mn b/d
O&G Export Rev. 83.7 $bn
O&G % Export Rev. 84 %
Geopolitical Risk

29 Nov, 2019


Baghdad And KRG Sign Preliminary Oil Sharing, Budget Deal

The KRG’s independent oil exports are a bone of contention with Baghdad. Does this week’s preliminary deal offer a fix?

Iraq Exports ('000 B/D; Including The KRG): Hit Record Volumes In 3Q Due In Part To 550,000 B/D Exported From The North
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Federal Iraq’s May Crude Exports Top 3.5mn B/D, Pushing Export Revenues ($Bn) To 7-Month High

Iraq's Sales Gas Output Hits New Records As It Cuts Down On Flaring Rates (Mn Cfd)

Iraq Rig Count Hits 73 For April, Highest Level Since 3q 2014 Oil Price Slump, As IOCS Step Up Investment In Both KRG And Basra

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