Iraq pushes for fresh oil expansion
Despite hurdles, energy sector ambitions abound
Despite the campaign against Islamic State (IS), the strain on the federal budget, the crippling of some oil and electricity assets, the Opec quota, and the unresolved dispute between Baghdad and the Kurdish Regional Government (KRG), 2017 brought success for Iraq's energy sector. Oil production stabilised at around 4.4m barrels a day, higher than in 2016. Some new export capacity came on stream in the south. Electricity generation reached 15 gigawatts for the first time. Thanks to higher oil prices, Iraq's crude export revenue last year came in at $60bn—its highest in three years. The government wants to build on this platform and the plans are ambitious. Oil output capacity may reach 5m b/
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