This article and the following two articles are meant to contextualize my previous research and findings on Iraq’s industry and energy security. Overall, these articles succinctly discuss the current crises the Iraqi government and energy ministries face in regards to oil exports and electricity within the country.
- A weakening infrastructure threatens to impact Iraq’s oil exports, although revenue has thus far only increased within the past year
- Within the country, the KRG and Baghdad are currently at odds about how to deal with issues related to infrastructure and exports due to the KRG intermittently shutting-in oil fields it deemed unsafe. There have been several pipe bursts and oil pipeline fires reported due to lack of infrastructure maintenance.
- Ultimately, the entire Iraqi budget is based on an assumption that the price of oil per barrel will average $76.75; however, with barrels maintaining a price of nearly $105, it has so far been possible to consistently increase revenue despite recurring threats to safety, regional unrest and the uncertainty of the future of energy security and oil policy (this is further examined in the following post).