Table of Contents
Who does Iraq export oil to?
The main destination of Crude Petroleum exports from Iraq are: China ($16.9B), India ($13.2B), South Korea ($3.09B), United States ($2.82B), and Italy ($2.27B).
How much oil does Iraq export?
Summary Table
| Barrels per Day | Global Rank | |
|---|---|---|
| Oil Consumption | 857,000 | 26th in the world |
| Daily Surplus | + 3,586,457 | |
| Oil Imports | 1 | |
| Oil Exports | 3,576,637 |
Do we import oil from Iraq?
The United States imported an average of 157,000 barrels of petroleum per day from Iraq in 2021.
Who buys most of Iraq oil?
An advisor to Iraqi Prime Minister Mustafa al-Kadhimi has said that nearly half of the country’s oil exports go to China, making China the number one market for Iraqi oil.
Does Iraq have any oil?
Oil Reserves in Iraq Iraq holds 143,069,000,000 barrels of proven oil reserves as of 2016, ranking 5th in the world and accounting for about 8.7% of the world’s total oil reserves of 1,650,585,140,000 barrels. Iraq has proven reserves equivalent to 457.4 times its annual consumption.
What does Iraq’s new oil law mean for Iraqi Kurdistan?
On February 22, 2022, Iraq’s Supreme court deemed an oil and gas law regulating the oil industry in Iraqi Kurdistan unconstitutional and demanded that Kurdish authorities hand over their crude supplies.
Is Iraqi Kurdistan’s oil revenue transparent?
The KRG is not transparent in disclosing the exact amount of oil revenue to the public and to Kurdistan parliament, according to observers and Kurdish politicians. Many Kurdish politicians, observers, and the ordinary people believe that many of Iraqi Kurdistan’s oil industry projects and deals are conducted in a non-transparent way.
What does Iraq’s oil minister say about annulment of Kurdish oil contracts?
BAGHDAD — Iraq’s oil minister said on Thursday the government will take steps to enforce a recent court decision to annul oil contracts the semiautonomous northern Iraqi Kurdish region made with international companies.
What is the deal with Iraq’s Kurds?
Under the current deal between the federal and regional governments, the Kurdish region delivers 250,000 barrels per day (bpd) of its more than 400,000 bpd output to Baghdad, in return for a share of federal funds. The money is used to pay the salaries of Kurdish civil servants and peshmerga fighters.