EIC LIVE e-vents: Iraq Market Update
12 Oct 2020, GotoWebinar
Open to: All companies
As part of our ongoing series of webinars providing updates across the GCC, the EIC’s Iraq Market Update will provide delegates with an unmissable opportunity to hear the latest energy sector news directly from key players working in this market. This event will provide an overview on the current status in the country alongside guidance for entering the market and the current state of business from companies who are already working in the region.
The second-largest producer in OPEC, Iraq remains an oil and gas powerhouse. The Iraqi oil and gas industry is also one of the most resilient. Since 1960, output has almost consistently been above the 1-million-bopd mark. Iraq depends heavily on income from oil revenues, which have almost halved in January-August compared with a year earlier. The country has pledged to produce 3.4mn b/d in August and September 2020 — 400,000 b/d below its OPEC+ ceiling for these months, to compensate for exceeding its limit in May-July. The country's OPEC+ quota is 3.8mn b/d in August-December 2020.
According to the Oil & Gas Journal, Iraq ranked fifth in proved crude oil reserves at the end of 2017 holding nearly 149 billion barrels, representing 18% of proved reserves in the Middle East and almost 9% of global reserves. Most of Iraq’s major known fields, all of which are located onshore, are producing or are in development.
Date: Monday 12th October 2020
Timing: 11:00 - 12:00 UAE Time
Cost: EIC Members FOC / Non-Members AED 100
11:00 Welcome and Introduction
Ryan McPherson, EIC Regional Director, Middle East, Africa, Russia & CIS
11:10 Iraq Analyst Update - Nur Ain Noor Hisham, EIC Research Analyst – Middle East & North Africa
11:20 Overview of Iraq Market – ‘A View from the Top’
Chris Bayliss, Acting Director of Trade, Iraq Department for International Trade
12:00 Thank you and close
Should you wish to sponsor this event and increase your brand exposure please contact Baqhtawar Shaikh for further details on the packages available
Please note the webinar will close for registrations Sunday 11th October at 5pm UAE Time
Joining instructions for the webinar will also be issued in advance