The EIA has updated its country analysis on Iraq…. Here are some charts:
“Iraq’s crude oil production grew by almost 1.5 million barrels per day (b/d) over the past five years, increasing from 2.6 million b/d in 2011 to almost 4.1 million b/d in 2015. These production estimates include oil produced in the Iraqi Kurdistan Region, the semiautonomous northeast region in Iraq governed by the Kurdistan Regional Government (KRG). The country’s production grew at a slower rate than the Iraqi government had expected over the past decade because of infrastructure bottlenecks in the south, supply disruptions in the north, and delays in awarding contracts. However, Iraq’s production boomed in 2015, increasing by almost 700,000 b/d compared with the level in 2014 and representing the largest year-over-year increase since Iraq’s production recovery in 2004, following the start of the Iraq war.
Despite the near-record level production growth in 2015, the Iraqi government lowered its future oil production targets and slashed investment plans. Iraq has been struggling to keep up its share of payments to the international oil companies (IOCs) operating its oil fields. The drop in crude oil prices, coupled with the war against the Islamic State of Iraq and the Levant (ISIL) in northern Iraq that began in mid-2014, caused Iraq’s budget deficit to grow substantially in 2015.
Iraq’s economy is heavily dependent on oil revenues. In 2014, crude oil export revenue accounted for 93% of Iraq’s total government revenues, according to the International Monetary Fund (IMF).2 In 2015, Iraq (excluding KRG) earned slightly more than $49 billion dollars in crude oil export revenue, $35 billion less than in 2014, despite a substantial increase in export volumes.3”
There is much more here: http://www.eia.gov/beta/international/analysis.cfm?iso=IRQ
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