Iraq Oil Forum

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Iraq Watch

The swift success of Iraq's oil opening to foreign companies could finally see Baghdad achieve its decades-long dream of becoming a global oil power that rivals Opec heavyweight Saudi Arabia. Now the hard work begins. In theory, 10 mega-projects awarded in Iraq's two postwar licensing rounds could deliver about 9.5 million barrels per day of new production and boost capacity to 12 million b/d within seven years -- as stipulated in Baghdad's service contract. The reality is that flows are more likely to rise to around 6 million b/d -- a level industry experts say could be easily reached -- provided Opec doesn’t slap supply limits on Iraq, now exempt from quotas, before it gets there. As expected, major players such as Exxon Mobil, BP and Royal Dutch Shell will play a lead role in tapping Iraq's prized oil fields. But perhaps the biggest winners in Iraq's oil auctions were two state Asian firms -- China National Petroleum Corp. and Malaysia's Petronas.... read more

Articles of Interest

Iraq: The Trials of Work in Kurdistan

Energy Compass (Friday, September 3, 2010)

Iraq-Kuwait: Brotherly Bonds

Energy Compass (Friday, September 3, 2010)

Iraq: Stuck at First Hurdle

Energy Compass (Friday, August 27, 2010)

Rosneft Takes the Back Door Into Iraq

Nefte Compass (Thursday, August 26, 2010)

Iraq: Baghdad's Gas Problem

Energy Compass (Friday, August 6, 2010)

The Iraq Oil Debate

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Current Discussion Topics

Northern Iraq's Catch-22

Iraq's Second Oil & Gas Bid Round

New Iraq National Oil Co. (INOC) draft law