Baghdad risks wasting its moment
Political paralysis is preventing Iraq from capitalising on renewed international enthusiasm for upstream investment
Iraq’s oil sector is, by short-term metrics, enjoying the rude health to be expected of a major producer during an extended market bull run. Monthly export revenues hit a five-decade high in March, followed in April by a substantial rise in output—taking the country to within a whisker of filling its Opec quota for the first time this year. A series of recent announcements from the Ministry of Oil (MoO) indicated that the windfall was being duly deployed to renew development spending at state-managed oilfields. However, opportunities to lay the foundations for long-term output growth are being squandered because of political paralysis. The country remains without a permanent government nine
Also in this section
28 March 2024
The country’s largest gas field is a bright spot for the North Sea, boasting cleaner operations amid a changing mood in Europe over hydrocarbons
28 March 2024
Whether OPEC+ starts to unwind its oil production cuts from June will depend on heavily debated unfolding supply-demand balances
28 March 2024
As a gas supply shortfall looms, balancing regulatory flexibility with energy security and investor confidence will be critical
27 March 2024
Oil producers have to untangle the increasingly complicated relationship with their natural resources