Iraq needs to invest to address its energy consumption
Letter from Iraq: Oil sector needs drastic reform
While its regional neighbours reap the rewards of oil and gas success, Iraq’s hydrocarbons sector is lagging behind
Iraq’s oil sector has been suffering from mismanagement since 2003, with major capital-intensive projects failing to deliver results. Over a decade ago, the future envisioned for Iraq’s energy sector was very different. In 2012, Iraq cooperated with the World Bank in preparing the Integrated National Energy Strategy, which was intended to cover 2013–30, and with the IEA in putting together a special report on the country’s energy prospects. One of the most important results of these two activities was that Iraqi authorities became convinced of the need to seriously reconsider previously contracted production targets and to amend existing contracts. The official call for a review of licensing
Also in this section
21 November 2024
E&P company is charting its own course through the transition, with a highly focused natural gas portfolio, early action on its own emissions and the development of a major carbon storage project
21 November 2024
Maintaining a competitive edge means the transformation must maximise oil resources as well as make strategic moves with critical minerals
20 November 2024
The oil behemoth recognises the need to broaden its energy mix to reduce both environmental and economic risks
19 November 2024
Energy minister says country is delaying first oil production until pipeline and refinery are ready
