Country report
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13 Pages

Iraq oil supply summary

Iraq oil supply summary

Report summary

Total liquids production capacity in Iraq averaged just over 4 million b/d in 2015. Iraq added around 0.5 million b/d to overall production in 2015, prompting an increase to our forecast. The increase was largely due to the introduction of the Basrah Heavy blend, exported from Southern Iraq.  We expect growth to continue in Iraq production, but at a much slower pace than 2015. The low oil price has led to a reduced federal budget and lower investment for 2016, affecting timings for field and infrastructure developments.  In the longer term, we assume the Common Seawater Supply Project will come onstream in 2022, leading to an increase in production.

What's included?

This report includes 1 file(s)

  • Iraq oil supply summary PDF - 945.37 KB 13 Pages, 3 Tables, 6 Figures


Volatility in oil markets has led players in the upstream oil and gas industry to focus on reducing capital spend and operating costs. At the same time, governments need to review fiscal terms to maintain attractiveness and investment.

This country report gives an overview of the key upstream supply issues for this country. If you’re interested in identifying and assessing upstream investment and expansion opportunities, this upstream supply report is your definitive commercial guide.

Potential investors, governments and companies in the oil and gas sector can use it to gain a better understanding of the critical issues for development opportunities in this country.

Wood Mackenzie's 500 dedicated analysts are located in the markets they cover. They produce forward-looking analysis at both country and asset level across the globe, backed by our robust proprietary database of trusted research. Proprietary data means a superior level of analysis that is simply not available anywhere else. Wood Mackenzie is the recognised gold standard in commercial data and analysis.

  • Executive summary
    • Oil/NGL production capacity outlook and ranking
  • Policy and regulation
    • Political framework
    • Petroleum legislation
    • Regulatory body
      • State oil company
    • Position in OPEC
  • Supply
    • Risk and
    • Commercial developments
      • Future production outlook
      • Overall oil/NGL production outlook to 2035*
      • Key commercial fields
    • Other discoveries
    • Reserves growth and yet-to-find
  • Infrastructure
    • Main oil/NGL infrastructure
  • Quality
    • Marketed blends
      • Key crude streams and characteristics in 2016
    • Crude quality outlook

In this report there are 9 tables or charts, including:

  • Executive summary
    • Executive summary: Image 1
  • Policy and regulation
  • Supply
    • Risks to supply
    • Supply: Image 2
    • Supply: Table 1
    • Key other discoveries
  • Infrastructure
    • Infrastructure: Image 1
  • Quality
    • Quality: Image 1
    • Key crude streams
    • Crude quality distribution
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