Middle East Economic Survey


No 5



Baghdad Looks To Launch Upstream Capacity Drive

Iraq is hoping to award contracts this year that it says should add up to 2mn b/d of new crude capacity, Oil Minister Husain al-Shahristani said on 31 January. Baghdad has made similar ambitious claims on numerous occasions since the US-led invasion in 2003. All proved wildly over-optimistic, as sabotage and political upheaval drove Iraqi output down below 2mn b/d for three straight years...