Sunday, July 18, 2010

Updated Iraqi Oil Production Graph

It's been a while since we talked about Iraq.

I updated my production graph with the latest statistics (above). Very roughly speaking, Iraqi production is a tug of war between the opposing forces of the al-Shahristani plan trying to increase production, and the general forces of entropy and chaos pulling the country apart.  Over the last year, production has been roughly flat, slightly down.  It's really too soon to expect the al-Shahristani contracts to have had much impact - Rumaila is the field furthest along, and no production increases were expected there till the second half of this year.

In the meantime, the political elites in the country have still been unable to form a government, four months after the last elections.  That level of uncertainty can't be helping future prospects for oil production.

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