Iraq’s bounty risks bitter taste
After US-led mission helped to largely banish Islamic State from Iraq in 2018, the country has fast become a battleground for power in the region
Growing oil production should be a major win for oil-weary Iraq. But the country's increasingly lucrative share of global crude output has served to sharpen the appetites of Iran, the US, and other Middle Eastern neighbours to keep or extend a foothold in Iraq, seeing potential both for further oil production increments and strategic importance in a territory that has long borders with Iran, Saudi Arabia, Syria and Turkey. Iraq has long been in an uncomfortable position straddling the diplomatic divide between the US and Iran. With tensions at their highest in years, how Iraq’s position stuck between the two opposing powers plays out in the coming months could have an impact even beyond its
Also in this section
22 November 2024
The Energy Transition Advancement Index highlights how the Kingdom can ease its oil dependency and catch up with peers Norway and UAE
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