By Ahmed Mousa Jiyad.
Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News.
Midyear Review of the Iraqi Upstream Petroleum Sector
2016 has been, financially as in any other aspects, so far very difficult and the fiscal difficulties are likely to persist during the second half of the year, though at slightly lower scale.
This half-yearly brief review addresses basic issues pertaining to the upstream petroleum sector in the country. The analysis focuses on the middle and southern petroleum producing provinces and the exports from southern terminals; while exports from KRG are addressed briefly.
The covered basic issues are:
- Oil Exports Revenues and Fiscal Deficit;
- Brent/ Iraqi Oil Price Differentials;
- Associated Gas Utilization and Development of Gas Fields;
- The Progress in the Awarded Exploration Blocks;
- KRG’ Oil Exports, Revenues and Fiscal Difficulties; and finally,
- Petroleum Issues in the IMF-Iraq Stand-By Arrangement.
Mr Jiyad is an independent development consultant, scholar and Associate with Centre for Global Energy Studies (CGES), London. He was formerly a senior economist with the Iraq National Oil Company and Iraq’s Ministry of Oil, Chief Expert for the Council of Ministers, Director at the Ministry of Trade, and International Specialist with UN organizations in Uganda, Sudan and Jordan. He is now based in Norway (Email: [email protected], Skype ID: Ahmed Mousa Jiyad).