“In an increasingly interdependent world, energy security cannot be a wholly domestic issue. Only with strong and stable energy partners across the world can we achieve secure access to energy, a well functioning energy market and stability to plan for the future. Recent events in Russia and Ukraine have made this clearer than ever.” Iraq’s energy potential “The IEA estimates
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This report examines the energy outlook for Iraq, the way in which energy can contribute to the country’s much-needed social and economic development over the coming decades and the way in which Iraq’s energy can affect global oil and gas markets. Chapter 1 sets the scene with an analysis of Iraq’s energy sector today and the role that it plays in the national economy, supporte
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General introduction: A 2011 World Bank study on Iraq’s financial sector indicates that bank credit in Iraq amounts to only 10% of GDP and would need to rise by an additional $38 billion to catch up to the MENA average of 55%. In a Market Assessment in 2010, over 700 Iraqi MSMEs were interviewed on their major business constraints and opportunities. Results revealed that acce
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Economic Forecasters It's often said that you can't get economists to agree on anything. Well oil economists certainly can't agree on future prices with commentators suggesting anything from $20 to $200. Seldom has there been such a discrepancy in forecasting though the median forecasts seem to be somewhere between $60 and $70. The reemergence of low prices and price instabili
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A report published by the Economic Times revealed that the total oil exports from Iraq had decreased this month with just 2.92 million barrels per day. Production in southern Iraq slipped from its 2.71 million average in March to 2.5 million barrels per day in the first half of April, yet these numbers are still quite impressive in the face of a global oil crisis. Oil product
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