International Energy expects Iraq to become the third largest oil producer in the world

. The International Energy Agency (IEA) expects Iraq to become the world's third largest energy contributor by 2030, after the U...


Written ByOumayma Omar

    Oumayma Omar, based in Baghdad, is a contributor to the Culture and Society sections of The News1 En.
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    International Energy expects Iraq to become the third largest oil producer in the world

    The International Energy Agency (IEA) expects Iraq to become the world's third largest energy contributor by 2030, after the United States and Brazil.

    The Paris-based agency said in a statement released on Thursday that Iraq's oil production will rise by 1.3 million barrels per day by 2030, to reach about 6 million barrels per day in the same year.

    Iraq, a member of the Organization of the Petroleum Exporting Countries (OPEC), and its oil production 4.550 million barrels per day in 2018, compared to 4.446 million barrels per day in 2017, according to the organization.

    Iraq will soon become the world's fourth-largest oil producer without a date, after the United States, Saudi Arabia and Russia, it added.

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    He pointed out that Iraq can address the current shortage of electricity and the increasing needs of them by taking immediate action.

    Iraq produces a total of 16,000 megawatts of electricity, but needs more than 23,000 megawatts to meet local needs.

    Iraq began to import gas from Iran since June 2017, with a daily export rate of 14 million cubic meters, to feed power plants.

    "Despite the extraordinary challenges of the war in recent years, Iraq has made impressive gains, compounding the country's oil production over the past decade," the statement said.

    "But the unrest has also undermined the country's ability to maintain and invest in its energy infrastructure," Anatolia said.

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