IRAQ

Baghdad Refocuses Oil Industry Priorities

A combination of surging non-OPEC supply and lower projected demand growth has eroded the anticipated call on new Iraqi output. And this has energized a reassessment of Iraq’s production expansion requirements. A final decision on plateau targets has been postponed, but nevertheless Baghdad is still pushing hard for near-term growth, aiming for average 2013 crude exports of 2.9mn b/d, up almost 600,000 b/d on last year, and it is...