Iraq oil exports history books pdf

Iraq s iraq national oil company inoc was an early leader in international oil policy and could play a similar role in the future. Pink noire 2003, by johanna drucker flash page images with commentary at. Ferruh demirmen examines western influence in iraq s oil industry, from the creation of the turkish petroleum company in 1911 by the uk, the netherlands and germany to the entry of us oil giants after world war i. Kurdish oil exports under threat after independence. Iraq 6 iraqi culture, history, and religion iraqi economy and livelihood oil the chief factor that dominates iraqs economy is oil. Throughout the twentieth century and into the beginning of the twenty first century petroleum has played an increasingly important role in the economy of the united states. Iran has always been one of indias main suppliers of oil, second only to iraq and saudi arabia, with exports that totalled more than 27 million tonnes last year. Market sources said shell has been a major buyer of iraqi fuel oil. April 2016 southern iraq crude export overview key points. During the last five years the exports of iraq have decreased at an annualized rate of 5. Us oil interests and the iraq war article pdf available in antipode 361. This page provides the latest reported value for iraq crude oil production plus previous releases.

In much the same way, this excellent history of the iraq occupation and the subsequent role of oil and politics in postinvasion iraq is a secret history, disclosing facts not revealed by the news agencies in the united states, at least and not generally known by the public at large. The iraq study group report 2006, by iraq study group, contrib. Despite increased volume of exported volume in 2014, export receipts fell by 7 percent compared to the previous year. This book provides an authoritative evaluation of iraq as an e and p petroleum investment. Asia remained the leading destination of the iraqi oil exports during 2014 and its share increased from 50 percent in 2012 to 65 percent in 2014. Choose an international office, partner post or multilateraldevelopment bank web site below. Jan 06, 2020 relations between the us and iran worsen in may 2019, when the us tightens the sanctions targeting irans oil exports. Other more minor disturbances are also discussed, as are the economic downturns that followed each of the major postwar oil shocks. We use your linkedin profile and activity data to personalize ads and to show you more relevant ads. Exxon mobil has been reporting the largest earnings in the history of business. Iraqs iraq national oil company inoc was an early leader in international oil policy and could play a similar role in the future. Mar 19, 2018 iraq is believed to have more oil than any other country in the world, save saudi arabia.

Policy research notes represent the views of the authors and do not necessarily represent wbg views or policy. The western international oil companies now control less than 10% of the worlds oil and gas resource base. With 115 billion barrels of proven crude oil reserves, iraq has the worlds secondlargest endowment of oil, amounting to 11% of the global total. They began august 6, 1990, four days after iraq s invasion of kuwait, stayed largely in force until may 22, 2003 after saddam husseins being forced from power, and persisted in part, including reparations to kuwait, through the present.

The purpose of this section is to introduce readers to the complicated history of oil in iraq. With iraq asking iocs to curtail investment, even relatively straightforward projects are being delayed. Exports in iraq increased to 87260 usd million in 2018 from 57559 usd million in 2017. This page provides iraq exports actual values, historical data, forecast, chart, statistics, economic calendar and news. Iraqs oil production in 2000 and 2001 averaged around 2. Although iraqs oil currency switch appears to be completely censored by the u. Iraq s economy is heavily dependent on oil revenues. With iraq asking iocs to curtail investment, even relatively straightforward projects are. Jun 14, 2014 after a long history of wars and sanctions, iraq reemerged as a critical source of oil in recent years.

Crude oil production in iraq decreased to 4480 bbld1k in april from 4500 bbld1k in march of 2020. Allied participation in operation iraqi freedom highlights a number of key aspects of allied support to the u. Without the addition of new reserves production rates cannot be sustained and lengthened. People, history, politics hot spots in global politics. Prior to december 2015, crude oil exports were restricted to. None of the reasons advanced for the action have turned out to be plausible, yet the administration evidently decided on this expensive and dangerous course early on. Iraqi oil exports and revenues drop in rough start to the year. Iraq exports of crude oil and petroleum products by destination. Oil exports, which had suffered during the iran iraq war, improved during the late 1980s, only to be severely decreased by embargoes related to the persian gulf war. With 115 billion barrels of proven crude oil reserves, iraq has the worlds secondlargest endowment. After all, this young democracy sits atop the worlds secondbiggest reserves of highquality petroleum. Order code rs21626 updated april, 2005 crs report for congress.

Iraqi oil production, current and potential table 2. Currency liquidator educational blog iraqs oil industry. Iraq 6 iraqi culture, history, and religion iraqi economy and livelihood oil the chief factor that dominates iraq s economy is oil. But under the uns socalled oil forfood program, saddam. Lead was the fastest grower among the top 10 export categories, up by 224.

The war with iran reduced iraq s production to 1 mbd, with exports collapsing from 3 mbd to 750,000 bd. A brief history of iraqi oil and its future al bawaba. By then there was already unambiguous evidence indicating the urgency of defusing the imminent danger posed by iraq and its primary allies in the growing terrorist conspiracy. Iraq s oil production and consumption, 19802002 est. The international energy agency iea estimates that iraq produced 2. Countries where fuel accounts for more than 90% of total exports include algeria, azerbaijan, brunei darussalam, iraq, kuwait, libya, sudan and venezuela. This book assesses several dimensions of iraq s reconstruction. After the 1958 revolution, however, economic development was con siderable. The countrys economy is gradually recuperating, with gdp expected to grow at 4. Oil and gas in iraq is significant to iraq s history, modern economy, and domestic and international politics. It highlights iraq s growing dependence on an industry that has been. The most recent exports are led by crude petroleum which represent 94. Some secondary sources like books, articles and reports on the economy.

The iraq war and the world oil economy edward nell and willi semmler, new school march, 2006 introduction the invasion of iraq has proved a disaster, one that was clearly foreseen. In its projection the imf assumes steadily rising oil prices blue line and oil exports blue dotted line, 4. This book sketches the history of a century of conflict over iraq s oil that has involved the country, its neighbors, and imperial powers. Crude oil production in iraq increased to 4620 bbld1k in july from 4600 bbld1k in june of 2019. Shortly after its failed 1990 invasion of kuwait and imposition of resulting trade embargos, iraqs oil production fell from 3. Just a frac tion of iraq s known fields are in develop ment, an d iraq may be one of the few places left where vast reserves, proven and unknown, have barely been exploited. In 2014, crude oil export revenue accounted for 93% of iraq s total government revenues, according to the international monetary fund imf.

The economy and economic history of iraq the very ancient history. Iraqs oil resources are unequally spread geographically. In turn, these are strongly influenced by its history. The presence of ground forces from so many coalition partners allowed u. Iraq also claims that oil production capacity expansion has been constrained by the refusal of the united nations to provide iraq with all the oil industry equipment it has requested. In the year after the invasion of kuwait, iraq s oil output fell 85 percent. Jan 31, 2020 iraq also claims that oil production capacity expansion has been constrained by the refusal of the united nations to provide iraq with all the oil industry equipment it has requested. Just a fraction of iraq s 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.

Ibnet blue book, which benchmarks utility performance internationally. Oil industry in iraq faces setback to revival the new york. Exports to embargoed or sanctioned countries continue to require authorization. Iraq s largely staterun economy is dominated by the oil sector, which provides roughly 85% of government revenue and 80% of foreign exchange earnings, and is a major determinant of the economy s fortunes. Traditionally it provided about 95% of the money received from foreign trade. Iran iraq war initiated in 1980, the first persian gulf war in 199091, and the oil price spike of 20072008. But years of unbacked sanctions, prompted by iraqs invasion of kuwait in 1990, had by 2003 crippled. Vision 2040 global scenarios for the oil and gas industry 5 how to read the study few areas of the economy are as volatile literally and figuratively as the oil and gas sector. The story of the discovery, exploitation, and importance of middle eastern oil has been told in. Last week, reports had it that iraq would reduce the amount of crude oil it exports via its largest port terminal in basra to 3.

Order code rs21626 updated april, 2005 crs report for. Hussein regime, and before the sudden rise of the islamic state of iraq and the levant isil, also. Oil sales throughout the country declined last month, as the price of oil drops. Mounting iraqi production helped to ease world oil prices despite the tightening. With its holy shia cities and historical heritage, iraq.

April 2016 southern iraq crude export overview iraq oil report. Iraq was the worlds 5th largest oil producer in 2009, and has the worlds fifth largest proven petroleum reserves. Oil and gas in iraq is significant to iraqs history, modern economy, and domestic and. Its economy has been destroyed by war, sanctions, and occupation, leaving the country more dependent than ever on the sale of crude oil. Iraqi fuel oil exports averaged around 65,000 bd in 2017, although the volumes fluctuated over the year, hitting a high of 106,000 bd in october and low of just 8,000 bd in december, according to jodi data. In iraq, people, history, politics gareth stansfield attempts to deal with four major questions about the country, while relaying its history. Pdf geographical history of exploration and drilling for oil in iraq. These processes have been greatly enhanced by the second factor noted by tripp. K irkuki and his band of oil protectors are the result of an earlier calculation. This paper examines the history of iraq s oil industry from world war i to 1972 and assesses the winners and losers of the iraq oil game. Empire and the creation of the modern middle east, owl books, 2001, and phillippe le billon.

Eias oil industry experts generally assessed iraq s sustainable production capacity at no higher than about 2. After the initial destruction of the war, oil exports gradually increased with the construction of new pipelines and the restoration of damaged facilities. Iraq s economy is gradually picking up following the deep economic strains of the last four years. Oil exports as a percentage of total exports, opec members. Kurdish oil exports under threat after independence referendum. Iraqi o il production has surged after years of disord er. A period of higher oil prices offered iraq an opportunity to rebuild and tackle longstanding problems by improving some basics services. Iraq and the politics of oil university press of kansas.

Iraq was a founding member of the cartel of the organization of petroleum exporting countries opec and was among the first oil producing countries to nationalize some of its oil fields in 1961. Iraq exports of crude oil and petroleum products by. Many books and lengthy articles describe this history in depth. About 1 million bpd of this came from the northern kirkuk field located largely in kurdish iraq, and the balance was produced largely in the southern, shiitemajority. Major angloamerican international oil companies and iraq core. Apr 25, 2020 iraqs top 10 exports accounted for 99. Can iraq s new government weather the economic storm. Since the discovery of oil in the middle east in 1908, western powers have sought dominance over the regions resources. People, history, politics provides a comprehensive analysis of the political, societal, and economic dynamics that have governed iraq s modern development. Regardless of the current political squabbling, the oil fueled iraqi economy continues to. The lions share of proven oil reservesabout 75 percentis concentrated in the south, including in five supergiant fields rumaila, west qurna, zubair, majnoon, and nahr umr and this region contributes roughly the same share in iraqs oil exports. In response, iran begins a counterpressure campaign. 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.

By february 2002, iraqi oil production had recovered to about 2. Pdf geographical history of exploration and drilling for oil in iraq ayad ayid. Of world proven oil reserves of 1,148 billion barrels, approximately 77% of these resources are under the control of national oil companies nocs with no equity participation by foreign, international oil companies. They are whether iraq is an artificial state, the rise of ethnosectarian identity politics after the fall of saddam hussein, whether the nation was predisposed to authoritarian rule, and finally could a. This chart shows countries by their dependence on exports of fuel commodities, which include natural gas and coal, as well as oil and oil products. Oil revenue nearly quadrupled from 1973 to 1975 due to the nationalization of the oil companies. A brief history of iraqi oil and its future published july 30th, 20 08. 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. This was due to both the destruction of oil export facilities khor alamaya and albakr and damage sustained to storage terminals particularly the fao tank farm. All books in the mena development report series are available for free at. The sanctions against iraq were a neartotal financial and trade embargo imposed by the united nations security council on baathist iraq. Oil exports have been substant ially reduced because of the united nations imposed economic sanctions after iraqs invasion of. The multiplicity of factors that influence the directions of the petroleum production chain is huge, making the task of preparing strategies and action plans. This was a strategy promoted by the united states and other world powers both before and after the invasion of iraq in 2003.

Controlling iraq s oil reserves and excluding rivals in a tightening oil market was, many argue, a key driver of the war and, behind this, americas twin addictions, that of its people to cheap gasoline and its corporations to billions of petrodollars. Iraq s contracts with major oil companies have the potential to further expand oil exports and revenues, but iraq will need to make. Nov 02, 2015 the above graph shows the budgets very high dependency on oil revenues. Iraq is experiencing its highest levels of oil production in over 30 years, and exports have continued to increase, however this does not give a good indication of the rest. Vision 2040 global scenarios for the oil and gas industry. Iraq s economy was almost exclusively based on agriculture until the 1950s.