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.
29 Nov, 2024
Featured
BP Eyes Kirkuk Deal By February
BP looks set to follow TotalEnergies in going big on Iraq, providing a shot in the arm to the country’s new DPC contract model.
Iraq’s Key Oil Fields & Infrastructure
NEWS IN BRIEF
Iraq Expands Sainia Refinery
20 Dec, 2024
China’s UEG Commissions Iraq Gas Plant
20 Dec, 2024
Genel Loses Kurdistan Gas Ruling
13 Dec, 2024
Iraqi Kurdistan: GKP Shaikhan Upgrade, Export Hope
13 Dec, 2024
Kurdistan Oil Proposal On Hold
15 Nov, 2024
KRG’s Khor Mor Gas: 2-Year Expansion Delay
15 Nov, 2024
Iraq Inks Bid Round Contract
1 Nov, 2024
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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