Tag Archives | International Energy Agency

Iraq's Economy on the Precipice - Reform Needed

Iraq's economy is on the precipice - reforming the energy sector is a key part of the solution The publication of the following commentary follows a conversation between the IEA's Executive Director, Dr Fatih Birol (pictured), and Prime Minister Mustafa Al-Kadhimi of Iraq, who recently took office. It examines one of the key topics of […]

Iraq a "Potentially Vulnerable" Energy Supplier

By John Lee. The International Energy Agency (IEA) has warned that Iraq is a "potentially vulnerable" energy supplier. In its Oil Market Report, it says that in the medium term, "heightened security concerns might make it more difficult for Iraq to build production capacity". More here. (Source: IEA)

Iraq's Energy Sector: Roadmap to a Brighter Future

Iraq, one of the world's biggest energy producers, can address its current electricity shortfall and growing power needs through immediate action to relieve pressure on the system, according to an in-depth report published Thursday by the International Energy Agency. It also provides a medium-term strategy that makes the best use of the country’s abundant oil […]

Immediate Actions to tackle Iraq’s Electricity Problems

New IEA report provides practical roadmap to address Iraq’s current electricity shortfall and future energy needs Iraq, one of the world's biggest energy producers, can address its current electricity shortfall and growing power needs through immediate action to relieve pressure on the system, according to an in-depth report published Thursday by the International Energy Agency […]

Oil Output to hit 5.4m bpd in 2022

By John Lee. According to a report from Bloomberg, the International Energy Agency (IEA) has predicted that Iraq will retain its position as OPEC’s second-biggest oil producer, adding 700,000 barrels per day (bpd) to reach 5.4 million bpd by 2022. Most of the increase will come from southern oilfields, such as the Shell's Majnoon project. […]

Iraqi Oil Selling for $30 Per Barrel

By Simon Kent. Traders in Europe have reported to Reuters that the Basra Light grade of crude is selling for $30 on the European market, as Iraq gains on Saudi Arabia as one of the main suppliers of oil to EU countries. Last year, Basra split its exports into Basra Light and Basra Heavy grades and […]

The New Oil Production Targets

By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The New Oil Production Targets, New Terms and Implications Most petroleum professionals, including myself, had expressed their serious doubt about the suitability, attainability and sustainability of oil production plateau targets for many […]

Iraq's Oil Exports Hit Record High

By John Lee. Surprising skeptics, the International Energy Agency has announced that Iraq's oil exports have hit 3.6 million bpd, a record 30 year high, The Wall Street Journal reports. Previously exports were falling due to export bottlenecks, bad weather and extensive work on infrastructure, while some northern areas such as Kirkuk were adversely affected by insecurity. […]

Iraq Aims to Beat IEA Oil Forecast

By John Lee. Iraq has said its oil output could reach up to 10 million barrels per day by 2020, higher than the recent prediction from the International Energy Agency (IEA). Speaking at a ceremony for the publication of the IEA report, Iraq's Deputy Prime Minister for energy, Hussain al-Shahristani (pictured), predicted that the country's […]

Iraqi Oil to be Game-Changer for World Markets

Iraq’s energy sector holds the key to the country’s future prosperity and can make a major contribution to the stability and security of global energy markets, the International Energy Agency (IEA) says in a special report of the World Energy Outlook released today – the first time that the IEA has conducted a comprehensive review […]