A new behemoth or the reform Iraq needs?
Parliament has passed a law to re-create Iraq National Oil Company. It faces opposition
"We have to make reforms. Maybe not with 100% success. But we have to start. Don't just sit there and criticise—get in the middle of the politics." Ibrahim Bahr al-Ulloum is speaking as he sits on a sofa in his home in Baghdad's al-Jadriya district. An enormous tray of fruit rests on the table between us. As if to prime his argument, a sudden power cut switches off the lights and fans. Iraq's energy sector has made much progress in recent years-but electricity supply is still erratic, even in the house of a powerful parliamentarian and former oil minister. But Ulloum is feeling optimistic. After years of debate, parliament in early March passed a law to re-create Iraq National Oil Company (I
Also in this section
2 December 2024
Crucial role of gas means country is laying the foundations to control physical and trading supply chains
30 November 2024
Decades of turmoil have left Iraq’s vast energy potential underutilised, but renewed investment and strategic reforms are transforming it into a key player in the region
29 November 2024
Although Iraq remains a major crude exporter, it is still some way from becoming a regional energy supply hub. Ambitious new cross-border schemes aim to rectify that situation
29 November 2024
There are opportunities for attractive returns and greater project success amid a real push by the Iraqi government for reform, as long as there is a shared understanding between the needs of investors and the host government
