Oil Growth Story in Iraq Loses Steam
Publisher: GlobalData
Author(s): Ali Al-Killidar
Date: 2016
Topics: Extractive Resources
Countries: Iraq
One of the most significant global oil production growth drivers has been derailed. Upstream development in Iraq has lost pace bluntly evidenced by the resignation of the Iraqi Oil Minister, Abdul-Mahdi, in March 2016. Previously the vice president of the country for 6 years, Abdul-Mahdi had been the oil minister for almost 2 years. The Iraqi Oil Ministry proposed a target of 12 mmbd in 2009, which was then followed by a reduced target of 9 mmbd in 2013.