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 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
%
Oil Rig Count
59
| Crude Output | 4.52 | mn b/d |
| Crude Exports | 3.82 | mn b/d |
| O&G Export Rev. | 83.7 | $bn |
| O&G % Export Rev. | 84 | % |
| Oil Rig Count | 59 |
16 Aug, 2019
Featured
Iraq In Line For Offshore Pipeline Overhaul
Iraq is close to signing a deal that would see Eni and BP replace two aged offshore pipelines, providing a critical boost to export capacity.
Iraq's southern Oil And Gas Infrastructure
NEWS IN BRIEF
KRG Atrush Crude Output Reaches Record Heights
9 Aug, 2019
Iraq Rehabilitates Is-Destroyed Baiji Refinery
26 Jul, 2019
Siemens Wins Iraq CCGT Order
12 Jul, 2019
Iraq And Oman Eye Oil Swaps
5 Jul, 2019
Iraq: Abd Al-Mahdi Secures Key Appointments
28 Jun, 2019
Iraq: Spotlight On Lukoil’s Eridu
21 Jun, 2019
Kuwait Eyes Iraq Oil Cooperation
21 Jun, 2019
Iraq’s Oil Minister Talks With Lukoil
7 Jun, 2019
SELECTED DATA
Federal Iraq’s May Crude Exports Top 3.5mn B/D, Pushing Export Revenues ($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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