Iraq Oil and Gas Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The oil and gas market in Iraq is expected to grow at a CAGR of more than 2.4% during the forecast period of 2020 – 2025. Factors such as increasing oil and natural gas production and consumption, upcoming pipeline infrastructure projects, plans to improve oil infrastructure across the country, and rising investment in all three oil and gas sectors are expected to boost the growth for the Iraq oil and gas market during the forecast period. However, increasing conflict with the local population due to substandard environmental clearances and extensive usage of scarce water, especially in the Basra region, has caused widespread concerns among the people which, in turn, is expected to have a negative impact on the upcoming projects in the country.
Key HighlightsThe Iraq oil and gas market is moderately consolidated. Some of the major companies in this market include Exxon Mobil Corporation, BP PLC, China Petroleum & Chemical Corporation, PJSC Lukoil Oil Company, Petroliam Nasional Berhad.
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