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 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


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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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