Iraqi oil output capacity could reach record levels
Tuesday, February 20, 2018
Significance
Some significant field development projects are moving ahead in 2018, especially in Kirkuk. There are further plans to award new exploration and development deals, as well as to develop additional pipeline capacity.
Impacts
- Higher exports and a solid oil price will boost federal government revenues.
- The oil sector will face continued structural problems and political challenges, despite growth in capacity.
- Iraq’s rising production capacity will strain its already-weak adherence to the OPEC agreement.
- Gas supply boosts could free for export oil currently used for domestic power generation.
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