Middle East tricky energy triangle
Baghdad's and Erbil's oil-output plans are entwined with political differences and Ankara's strategy to diversify energy sources
The ashen fabric of Iraqi life over the past few years has had at least one bright thread running through it: the oil sector has gone from strength to strength. Today, on the face of it, the prospects look good. Earlier this year, Iraq added 10bn barrels to its oil reserves, raising them to 153bn barrels. Now the country is about to go one step better. Oil minister Jabar al-Luaibi told the Iraq Energy Forum 2017 in Baghdad in April that a further 15bn barrels would be added by 2018. In this same period, he continued, oil-production capacity would rise from around 4.4m barrels a day to 5m b/d. Some Iraqi officials are daring to suggest that this figure could reach 9m b/d by 2040. The recent a
Also in this section
27 January 2025
Regional state-owned firms are transforming their strategies and leveraging their resources to position themselves as clean energy powerhouses, and to ensure they maintain influence in a low-carbon world
27 January 2025
Asian neighbours seek resolution on territorial dispute for hydrocarbons development that has spanned decades
24 January 2025
Domestic companies in Nigeria and other African jurisdictions are buying assets from existing majors they view as more likely to deliver production upside under their stewardship
23 January 2025
The end of transit, though widely anticipated, leaves Europe paying a third more for gas than a year ago and greatly exposed to supply shocks
