Last week I wrote about the emerging realities in Iraq oil production and the unrealistic targets set in the contracts signed between the government and the international oil companies.
While Iraq revised its production targets downward to nine million barrels a day (mbd) in 2020 from over 12mbd in 2017, the International Energy Agency (IEA) just published its awaited report “Iraq Energy Outlook” and Iraqi officials must be regretting the invitation given to IEA and the disclosure of information for it to write a report totally in contrast to the official Iraqi line.
Needless to say that the report attempted to please the Iraqi government by some unrealistic statements about improving security and electricity supply and by even setting one of its scenarios to match the Iraqi production target, but the fact remains that the report is far from pleasing and it certainly exonerated all those Iraqi experts who were critical to the oil production targets from day one.
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