May 10, 2021

Will Iraq Become A Petrochemicals Powerhouse?

Energy, Iraq Oil, Oil Export, Petroleum and Gas

There are three key reasons why the development of a world-class petrochemicals (petchems) sector is vital to Iraq’s future. First, its heavy reliance on crude oil exports makes it extremely financially vulnerable both to downturns in the oil price and to the political whims of its fellow OPEC members, especially Saudi Arabia. Second, plain crude […]

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Could Iraq Really Become OPEC’s Largest Oil Producer?

Energy, Global, Iraq Oil, Oil Export

Iraq’s Oil Minister, Ihsan Abdul-Jabbar, announced last week that the country plans to increase its oil production capacity to 8 million barrels per day (bpd) by 2029, compared to current production of around 3.8 million bpd that factors in OPEC-mandated cuts. Based on its vast oil resources there is no insurmountable reason why this output

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