Iraq energy report

• The Ministry of Oil and the Ministry of Electricity are responsible for the entire energy sector.
• The fifth oil & gas bidding round was unsubscribed.
• The oil market is divided into IOC's and NOC's.
• BP operates Rumaila, the largest producing oil field in Iraq with a production of 1.5 mb/d in 2019.
• Crude oil production has doubled since 2010, mainly due to fields in southern Iraq.
• Power capacity has nearly tripled since 2010 from 12 GW to 35 GW.
• Oil is the country's main energy source, accounting for 87% of total consumption.
• Several projects are being developed to increase power production of oil and gas. In 2020, the MoE expects to add 3.5 GW.
• After 6 years without any licensing rounds, Iraqi MoO opened a tender for 11 blocks in 2018.

• Institutions & Energy Policy

  Iraq's economy is mainly based on the oil industry. The State controls the energy sector through two ministries.

  The Ministry of Oil (MoO) supervises all the oil and gas activities and regulates the exploitation rights of the country's hydrocarbon reserves.

• Energy Companies

  Gas:

  Gas production is managed by two regional state-owned firms operating under the control of the Ministry of Oil: North Gas Company (NGC) and South Gas Company (SGC).

• Energy Supply

  Resources:

  The proven crude oil reserves were re-evaluated by the Government in 2017 and are estimated at about 20 Gt. They are the third largest in the world (fifth largest when including unconventional reserves) and are mainly located in the east of the country.

• Energy Prices

  Oil:

  Gasoline and diesel prices remained unchanged between 2012 and 2014. Gasoline prices increased in 2015 and 2016 to US$0.49/l before returning to their 2012-2014 levels as of 2017 (at US$0.38/l). Diesel prices have been declining since 2014 and reached US$0.21/l in 2018.

  Graph: GASOLINE & DIESEL PRICES (US$/l)

• Energy Consumption

  Total energy consumption per capita amounted to 1.6 toe/capita in 2019. Electricity consumption per capita was 1 095 kWh in 2019. It remains much lower than in neighbouring countries (1 760 kWh per capita in Jordan in 2018 and 3 040 kWh in Turkey in 2019).

  Total energy consumption increased rapidly since 2015 (+8%/year), to reach 64.5 Mtoe in 2019.

• Issues & Prospects

  In 2013, Iraq published its Integrated National Energy Strategy (INES) until 2030, which could represent US$620 bn in investments in the energy sector. Beside infrastructure development, the strategy noted the need for institutional reforms to foster private participation in the energy sector.

• GENERAL OVERVIEW
• INSTITUTIONS AND ENERGY POLICY
• ENERGY COMPANIES
• ENERGY SUPPLY
• ENERGY PRICES
• ENERGY CONSUMPTION
• ISSUES AND PROSPECTS
• DATA TABLES
• ABBREVIATIONS
• GLOSSARY

Download the Table of Contents

Below is a list of the Iraq energy market report graphs:

• GRAPH 1: CO₂-energy Emissions (MtCO₂)
• GRAPH 2: Installed electric capacity by source (2019, %)
• GRAPH 3: Gross power production by source (TWh)
• GRAPH 4: Power generation by source (2019, %)
• GRAPH 5: Gasoline & diesel prices (US$/l)
• GRAPH 6: Consumption trends by energy source (Mtoe)
• GRAPH 7: Total consumption market share by energy (2019, %)
• GRAPH 8: Final consumption market share by sector (2019, %)

In the Iraq energy market report you will find the following tables:

• Economic Indicators: Annual historical data including population, GDP growth, imports and exports, inflation rate, energy security and efficiency indicators, CO₂ emissions.
• Supply Indicators: Historical data including oil and gas reserves, electric and refining capacity, energy production, power production and external trade. All are detailed by energy source
• Demand Indicators: Historical data including consumption per inhabitant, consumption trends, total consumption by energy source, final consumption by energy source and sector, and electricity consumption by sector.
• Energy Balances: Single table displaying the overall energy industry balance per annum, also graphically displayed by energy sub-segment.