Iraqi oil production has surged after years of disorder. Iraqs hitherto agrarian economy underwent rapid development following the 14 july revolution overthrowing the hashemite iraqi monarchy, becoming the thirdlargest economy in the middle east by 1980. Iraqs oil production has nearly doubled over the past. Exports to embargoed or sanctioned countries continue to require authorization. This page provides iraq exports actual values, historical data, forecast, chart, statistics, economic calendar and news. Iraqi oil shipments to the united states averaged a record 4. The iraqi government received its third tranche of funding from its 2016 standby arrangement sba with the imf in august 2017, which is intended to. Voglers first hand account of his years working to rebuild the iraqi oil sector is a mustread for students of postconflict reconstruction. The history of irans oil industry began in 1901, when british speculator william darcy received a concession from iran to explore and develop southern irans oil resources.
The exports, however, are controversial as bagdad accuses erbil of bypassing existing legislation on oil exports and failing to transfer agreed volumes of oil to the government. Us slashes iraqi oil imports world news the guardian. Iraqi oil reserves are considered the worlds fifth largest ones, with 140 billion barrels, and iraq is opecs second largest producer behind saudi arabia. Iraqi oil exports have halved overall, dropping from around an average of 2m barrels a day last year to. Currency liquidator educational blog iraqs oil industry. But while doing research for a book about his experience in iraq, vogler. Iraqi government orders probe into kurdistan regions oil exports. Iraq was the worlds 5th largest oil producer in 2009, and has the worlds fifth largest proven petroleum reserves. Oil sales throughout the country declined last month, as the price of oil drops. Just a fraction of iraqs known fields are in development, and iraq may be one of the few places left where vast reserves, proven and unknown, have barely been exploited.
The iraqi federation of oil workers ifou is the main opposition to the privatization of oil in the country and is one of few voices speaking out the rights of millions of iraqi workers. Apr 25, 2020 iraqs top 10 exports accounted for 99. Jul 02, 2018 on sunday, the iraqi oil ministry said exports from southern fields stood at 3. Apr 10, 2020 1982 syria closed iraqi pipeline to mediterranean to help iran in war cut iraq oil exports to just 600,000 barday 1982 syria closing pipeline led iraq to settle border disputes with jordan turkey saudi arabia to build. Iraqi oil exports are holding up due to a strong surge in daily exports from the south of the country, while the north of the country hasnt managed to export more crude. Mar 23, 2018 oil exports from southern iraq have fallen by 70,000 barrels per day bpd this month, according to shipping data and an industry source, suggesting opecs secondlargest producer is heading for a. Iraq and the politics of oil university press of kansas. May 03, 2017 iraqi fuel oil exports have soared since january despite a reduction in the countrys crude production in line with opec supply cuts, industry sources said, in what could be a way to boost output.
This page provides the latest reported value for iraq crude oil. Iraqi officials had hoped to increase the countrys oil production capacity to 3. Sep 01, 2016 baghdad, iraqs oil exports from southern ports rose to more than 3. A brief history of iraqi oil and its future al bawaba. Researchers, diplomats, and journalists seeking to understand the complex issues and problems related to iraq ought to read the economy of iraq. Iraqi oil exports from the basra gulf in december set yet another record, capitalizing on a steady uptick in crude prices and capping a breakout year in the oil sector for the federal government. Far from being a response to 911 terrorism or iraqs alleged weapons of mass destruction, petrodollar warfare argues that the invasion was precipitated by two converging phenomena. From december 2006 to september 2011 he was a senior oil consultant for us forces in iraq, and before that he served as deputy senior oil advisor, cpa, for baghdad, and as senior oil advisor.
Jan 16, 2018 iraqi and kurdish officials are still trying to work out their differences. By february 2002, iraqi oil production had recovered to about 2. Iraqs 2018 budget seems to expect exports to gain about 100,000 bpd on last year, putting further strain on the opec deal. This page provides the latest reported value for iraq crude oil production plus.
Prior to december 2015, crude oil exports were restricted to. Exports to the united states account for 17% of total iraqi exports. The turkish petroleum companys tpc creation by the uk aimed at seeking concessions to explore for iraqi oil, to eliminate rivalry among tpcs partners and to compete with us oil companies. Iraq and the politics of oil tells the truthand the truth about this grave historical blunder is long overdue. The economy of iraq has fluctuated wildly since the 1950s. The book provides good background on the early history of oil development with discussion. The iraqi parliament on monday launched an investigation into the quantities of oil exported by the kurdish regional government krg during the past three years from kirkuks oil. Hot seven is terrorists killed during counterterrorism operation in kirkuk. Iraq s economy is heavily dependent on crude oil export revenues. It has been affected by changes in governments, by wars, and by general instability. This paper examines the history of iraqs oil industry from world war i to 1972 and assesses the winners and losers of the iraq oil game.
Iraqi oil and gas law is a complicated mix of all of these sources of. Iraqi pms office says turkey agrees to deal only with. The low prices of oil is also undervaluing current exports and inhibiting the government from making larger gains. Regardless of the current political squabbling, the oilfueled iraqi economy continues to. Iraqi oil export value surged in the first half of the year the countrys oil minister said tuesday that iraq realized an average price of oil. Regardless of the current political squabbling, the oil fueled iraqi economy continues to. Unapproved oil exports began in december 1996 after iraq finally accepted unscr 986 passed in april 1995. In june 2007, the union organized a strike which, although short lived, resulted in prime minister nouri almaliki agreeing to delay the implementation of a. Ministry of oil crude oil exports all oil leaving iraq goes either through the one operational pipeline heading into turkey, or through the sea por.
A worker for iraqs south oil company calls in an oil tanker to fill up at the albasra oil terminal in february 2010. Representatives from iraqs oil ministry and state organization for marketing of oil somo met with members of the kurdistan regional government krg on jan. Dec 21, 2015 as of midnovember, kurdistan is exporting over 500,000 bd of oil, every seventh barrel of opecs second largest exporter. Iraqi and kurdish officials are still trying to work out their differences. Crude oil production in iraq remained unchanged at 4500 bbld1k in march from 4500 bbld1k in february of 2020. Impact of a middle east oil export disruption by verleger, philip k. This is an elite unit within the peshmerga, iraqi kurdistans military force, that is tasked with protecting the regions oil fields. Iraq and the politics of oil is a fascinating behindthescenes account of the role of the us government in the iraqi oil sector since 2003.
Shortly after its failed 1990 invasion of kuwait and imposition of resulting trade embargos, iraqs oil production fell from 3. Gary vogler is president of howitzer consulting, llc. Jan 31, 2020 by february 2002, iraqi oil production had recovered to about 2. Record year for iraq oil exports in 2017, federal iraq averaged more daily crude exports than ever before and a 37 percent revenue increase over 2016. In addition, crude oil export revenues accounted for over twothirds of gdp in 2009.
Baghdad, iraqs oil exports from southern ports rose to more than 3. To the fury of the iraqis and the french, it held down production to maximize profits. Includes ancillary map of distribution of iraqs main ethnoreligious groups. Lead was the fastest grower among the top 10 export categories, up by 224. Relatively small volumes of crude oil are also transported by truck or pipeline to turkey. Iraqs oil exports dropped to a sevenmonth low in november. The invasion of iraq may well be remembered as the first oil currency war. Iraqi oil export value surged in the first half of the year. Iraqi oil export value surged in the first half of the. Iraq economic data 19892003 central intelligence agency. Iraqi oil production reached its highest level in more than 30 years last month. Crude oil production in iraq decreased to 4620 bbld1k in september from 4650 bbld1k in august of 2019.
Phillips, author of lincoln on leadership for today mr. On sunday, the iraqi oil ministry said exports from southern fields stood at 3. The most recent exports are led by crude petroleum which represent 94. Iran has many ways to smuggle modest amounts of oil, but if iraq decides to ignore u. The economy of iraq is dominated by the oil sector, which has provided about 99. Vogler gives us an expert insiders view of the largest oilfield auctions in the history of the international oil industry, and his account shows how us forces focus on a single iraqi point of failure in 2007 was a primary factor in the record productions and exports of 2012 through 2017. The oil and gas police pose for a portrait outside an oil field in kirkuk, iraq. Unidentified gunmen have impeded trucks from loading lpg from the khor mor gas field, after competition between politically connected companies.
Iraqi oil exports to us set record in november 2016, saudi. Had there been a genuine sense of arabism during the postwar period, aziz went on, then the gulf states would not only have cancelled iraqs debts, but would also have organized a comprehensive iraqi reconstruction plan. Available also through the library of congress web site as a raster image. By purchasing a majority of the companys shares in 1914, the british government gained direct. Apr 23, 2007 following iraqs invasion of kuwait in 1990 and the embargo on iraqi oil exports, iraqi oil production fell to 10 percent of its prewar level from 3. Vogler describes the prewar oil planning and the important decisions made during hostilities to get iraqi oil flowing several months ahead of schedule. During the last five years the exports of iraq have decreased at an annualized rate of 5. Iraqs fuel oil exports soar despite opec supply cut reuters.
Petroleum industry in iraq news newspapers books scholar jstor june 20 learn how and when to remove this template message. Iraqi fuel oil exports have soared since january despite a reduction in the countrys crude production in line with opec supply cuts, industry sources said, in. Iraqi oil exports are currently running at near full capacity in the south, while export capacity in the north has been restricted by sabotage, and would need to be expanded in any case to export significantly higher. Jan 10, 2020 iranian oil exports have plummeted due to u. Iraqi oil exports and revenues drop in rough start to the year. Iraqs energy sector is heavily based upon oil, with approximately 94 percent of its energy needs met with petroleum. This paper examines the history of iraqs oil industry from world war i to 1972. Graeber, great commentary, i like to know your forecast and expectation on the iraqi oil production, consumption, and exports over the next five years, and ten years. On this page we post many materials on the history of iraqs oil and the international struggles to control it. Discover librarianselected research resources on oil and the middle east from the. Oil exports from southern iraq have fallen by 70,000 barrels per day bpd this month, according to shipping data and an industry source, suggesting opecs secondlargest producer is heading for a. Most of this is probably going to oil trading companies, rather than refiners, and.
Of special interest is information on the control of iraq oil in the world war i era, the role of the international companies in iraq and the middle east, and the disputes leading up to iraqs oil nationalization in 1972. Oil and gas in iraq is significant to iraqs history, modern economy, and domestic. The future of oil production in iraq global risk insights. Iraqs southern oil exports reached a record in january. After all, this young democracy sits atop the worlds secondbiggest reserves of highquality petroleum. In this excerpt from his book british foreign policy during the curzon period.
Dec 05, 2018 iraqs oil exports dropped to a sevenmonth low in november. History should accurately reflect an oil agenda for the iraq war of providing iraqi oil to israel. Iraq was the worlds 5th largest oil producer in 2009, and has the worlds fifth largest proven. Monthly export data direct from the horses mouth the iraqi ministry of oil can be seen here. Iraqs oil exports rise by 11% in march middle east monitor. The discovery of oil on may 26, 1908 led to the formation in 1909 of the londonbased anglopersian oil company apoc. But then much of the story of the usuk invasion and occupation is a. Iraqi oil minister says talks continue with kurds on oil. Aug 20, 2002 iraqi oil exports have halved overall, dropping from around an average of 2m barrels a day last year to just short of 1m barrels at the end of may. List of books and articles about oil and the middle east online. According to opecs secondary sources, iraqi production was at 4. Iraqs southern oil exports fall for third month in march. Producing oilfields types of iraqi oil crude oil production and projections oil ministry production goals crude oil.
This book is his attempt to set the record straight. The west qurna 1 field, developed by exxon mobil, and south oils luhais. In addition, crude oil export revenues accounted for over twothirds of gdp in. Iraq exports of crude oil and petroleum products by destination. Turkey told iraq it would deal only with the iraqi government on crude oil exports, the office of iraqi prime minister haider alabadi said on. Both iraqi refining and export infrastructure are currently bottlenecks and need to be upgraded to process much more crude oil. Shows oil and gas fields and pipelines, exploration blocks, crude processing plants, pump stations, refineries, and tanker terminals. Iraqi oil minister says talks continue with kurds on oil exports. This book analyzes a complex subject and is especially timely at this critical juncture in the history of iraq, the middle east, and international relations.