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.
2 Dec, 2022
Featured
Iraq’s Oil Revenues Pass $100bn In 2022
Iraq’s crude export revenues have topped $100bn for the first time and are on track to hit $115bn by end-year. But infrastructure upgrades are desperately needed.
Iraq’s Gulf Oil Export Infrastructure
NEWS IN BRIEF
Tehran Plans Greater Iraq Energy Presence
2 Dec, 2022
Iraq Oil Boost As Cnooc Hikes Missan Capacity
25 Nov, 2022
Total’s Pouyanné Meets New Iraqi PM
25 Nov, 2022
KRG’s Sarsang Set For Q4 Leap
18 Nov, 2022
Iraq Offshore Exploration
11 Nov, 2022
Iraq Gas Boost Coming
11 Nov, 2022
Iraq: Lukoil Struggles To Lighten Output
4 Nov, 2022
Iraq Crude Smuggling
4 Nov, 2022
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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