Iraq Report

Iraq: Oil Giant in a Bottle

  • Our updated assessment on Iraq’s production potential put a realistic target at 4.2 million b/d, lower than the 5-6 million b/d suggested by Al-Shahristani, Iraqi’s Deputy Prime Minister in June 2013. Major infrastructure bottlenecks are the main reason for this lower outlook
  • Tightened sanctions on Iran may however offer an outlet for Iraq’s crude surplus
  • Different contract types on offer increase tensions between the Kurdish Regional Government and the Iraqi Federal Government

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