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 August 2025
The administration has once more reduced its short-term gas price forecasts, but the expectation remains the market will tighten over the coming year, on the back of
19 August 2025
ExxonMobil’s MOU with SOCAR, unveiled in Washington alongside the peace agreement with Armenia, highlights how the Karabakh net-zero zone is part of a wider strategic realignment
19 August 2025
OPEC and the IEA have very different views on where the oil market is headed, leaving analysts wondering which way to jump
15 August 2025
US secondary sanctions are forcing a rapid reassessment of crude buying patterns in Asia, and the implications could reshape pricing, freight and supply balances worldwide. With India holding the key to two-thirds of Russian seaborne exports, the stakes could not be higher
