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.
10 Mar, 2023
Featured
Lukoil Gets Green-Light To Develop Iraq’s 250,000 b/d Eridu
Six years after discovery and two years after filing development plans, Lukoil has finally received commercial approval to develop the Eridu oilfield.
Iraq: Key Southern Infrastructure And Fields
NEWS IN BRIEF
Somo Tenders More Kirkuk
10 Mar, 2023
Iraq: Nebras Cracker Green Light?
10 Feb, 2023
Iraq Revalues Currency
10 Feb, 2023
Iraq’s Somo: Kirkuk Tender Snapped Up
3 Feb, 2023
Iraq Eyes Japanese Swap Deal For Inpex Stake
3 Feb, 2023
Iraq’s Gharaf Adds Processing Capacity
3 Feb, 2023
Halfaya: 300mn cfd By End-23
3 Feb, 2023
Subba Back To Production
27 Jan, 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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