Energy, Oil & Gas Policy – Page 3 – Iraqi Economists Network

What Could Iraqis Gain from Their Oil Windfall? by Mohammed Hussein*

Although Iraq stands to gain significant revenues from an oil windfall, urgent reforms are needed to ensure these funds benefit the people, not just the elites. After a full year of political stalemate and fierce power struggles, Iraq’s ruling elite have finally managed to form a government led by Mohammed Shia' al-Sudani. Thanks to the surge in international crude oil price

Europe may fear an energy crisis over the coming winter, but for Iraqis an unstable power supply and frequent blackouts have been a reality during decades of war and turmoil. The Middle Eastern country is rich in oil, but endemic corruption and devastating conflict have taken a heavy toll on its infrastructure and forced most of its 42 million people to adapt. The noise o

Petroleum and other liquids Iraq’s crude oil production (excluding condensates) averaged 4.1 million barrels per day (b/d) in 2020 and 2021, which was 600,000 b/d lower than in 2019 (Figure 2). More than 3.6 million b/d was produced under the central government in Baghdad, and about 445,000 b/d was produced at the northern fields currently operated by the KRG.15 Iraq created a

Exterran Corp workers leave after more rocket attacks Plan to expand output from Khor Mor gasfield on hold Kurdish region heavily dependent on oil and gas revenues ERBIL, Aug 30 (Reuters) - A series of rocket attacks on a gasfield in northern Iraq has sent the U.S. contractors working on its expansion packing, dealing a blow to the Kurdish region's hopes of boostin

Iraq holds a very conservatively estimated 145 billion barrels of proven crude oil reserves. Hamid Younis, first vice president of the Iraq National Oil Company, said last week that the country is planning to ramp up crude production to 8 million bpd. A number of factors, including corruption issues, weak civil society, insecurity and lack of resources have kept Iraq