Iraq s energy storage products rank

What percentage of Iraq's electricity comes from oil and natural gas?

Nearly all (almost 95%) of Iraq’s electricity generation is from oil and natural gas.59 According to the International Energy Agency, natural gas use in the electric power sector increased from 25% in 2016 to nearly 60% in 2020 because Iraq began importing natural gas from Iran to increase its own supplies.

How much oil does Iraq produce a day?

It also takes a detailed look at the country’s oil and gas sector, projecting that Iraq’s oil production will grow by 1.3 million barrels a day by 2030, becoming the world’s fourth-largest oil producer behind the United States, Saudi Arabia and Russia.

Why is Iraq's energy system vulnerable?

However the capacity to capture and process this gas has not kept pace. The inability to utilise its gas riches means that the country's gas deficit has grown, and Iraq now relies on imports from Iran to meet increasing demand. This has introduced a number of vulnerabilities to Iraq’s energy system.

Does Iraq still use oil?

Iraq will continue to mostly use oil to meet energy demand until it develops more natural gas processing capacity and pipeline infrastructure. Federal Iraq refers to the political entity that is governed by the central government of Iraq in Baghdad.

Does Iraq sign a $27bn energy deal with totalenergies?

26 ArgusMedia, “Iraq signs $27bn energy deal with TotalEnergies”, September 5, 2021; Rystad, “TotalEnergies breaks the mould with $27 billion deal in Iraq”, September 14, 2021. 27 Facts Global Energy, Middle East Oil Databook 4, Middle East Refined Product Balances, Spring 2022. 28 Joint Oil Data Initiative (accessed May 2022). June 17, 2022.

Which oil companies are still operating in Iraq?

Subsequently, Federal Iraq’s North Oil Company (NOC) took over operations of the Avana Dome, Baba Dome, and Bai Hassan oil fields. The NOC continues to operate the Qubbet Baba, Jambour, and Khabaza oil fields located near Kirkuk.10