Iraq Iraq Liquids Production Improving, Though 2025 Targets Remain Ambitious

摘要

New leadership will be made up of veteran lawmakers and supported by a substantial consensus in parliament, paving the way for legislative progress on policy targets. Investment sentiment is improving with several new upstream projects announced, though more is need to meet ambitious 2025 targets. We maintain our production forecast for 2019 with an anticipated annual average of 4.7 million b/d of crude, NGLs and other liquids. Iraq’s Upstream Risk Reward Index (RRI) rankings improve following the defeat of ISIS and the prospect of renewed investment for reconstruction and expansion of the oil sector.