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?
| Crude Output | 4.01 | mn b/d |
| Crude Exports | 3.00 | mn b/d |
| Crude Export Rev. | 41.8 | $bn |
*ALL EXCEPT CRUDE OUTPUT EXCLUDE KRG.
2 Oct, 2026
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Iraq’s power sector was in crisis even before this year’s conflict. Even once the conflict ends, Iraq’s goal is to reduce, not eliminate, the supply shortfall.
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