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 |
*ALL EXCEPT CRUDE OUTPUT EXCLUDE KRG.
7 Mar, 2025
Featured
Speedy Kurdistan Oil Return? Don’t Bank On It
Baghdad, the KRG and the region’s IOCs remain far apart on terms to restart exports through the Iraq-Turkey Pipeline.
Iraq's Northern Oil And Gas Infrastructure
NEWS IN BRIEF
Total Starts Work On 1GW Iraq Solar
14 Mar, 2025
Iraq Eyes Near-Term LNG Imports
7 Mar, 2025
Iraq: New Somo Chief
28 Feb, 2025
KRG: Genel Finalizing Taq Taq Exit
31 Jan, 2025
Iraq Resumes Gasoil Imports
31 Jan, 2025
BP-Kirkuk: Not Quite There
17 Jan, 2025
Total Cuts Iraq Flaring
17 Jan, 2025
SELECTED DATA
Iraq's Cumulative 2024 Overproduction* Approaches 50mn Barrels
Iraq Is Increasingly Dependent On Unreliable Iranian Gas Imports (mn cfd)
Iraq Is Capturing Record Amounts Of Gas (bn cfd) With Flaring Down To 35% In July
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