Middle East Economic Survey


No 43


Baghdad Bidding Rounds Threaten World Oil Order

Baghdad will make awards for the over 35bn barrels  of oil reserves on offer in its second upstream bidding round on 11-12 December, Iraq’s Ministry of Oil announced at an Istanbul road show. Together with fields awarded or under negotiation from its first round, Iraq appears poised to launch a capacity push to 10mn b/d and beyond. This 10mn b/d+ scenario, if realized, could...