• How much oil does Iraq produce a day?
  • At 1.5 million barrels of oil a day (Mbopd) capacity, it is the world¡¯s third biggest producing field and delivers approximately one-third of Iraq¡¯s total oil supply. The giant onshore field, which has been producing since 1954, is still left with an estimated 17 billion barrels of recoverable oil reserves.
  • Why are Iraqi crude oil yields so high?
  • The lack of investment in cracking capacity at Iraq¡¯s refineries has meant that processing Iraqi crudes has led to high fuel oil yields on distillation (with 50 per cent of every barrel processed coming out as fuel oil, see Figures 20 and 21).
  • Which refinery in Iraq has the most advanced feed?
  • Looking at Iraq¡¯s wider refinery expansion plans in detail (see Figure 17), the refining upgrade nearest completion is set to be at Basra. The two projects with the most advanced FEED are Karbala and Missan, although each has its own set of challenges.
  • What makes Iraq’s refinery complex a ‘catch-up’?
  • Iraq¡¯s refining complex has a number of characteristics: first, all Iraq¡¯s refineries are simple hydro-skimming refineries with high fuel oil surpluses; second, they lack upgrading facilities. The failure of Iraq¡¯s downstream to play ¡®catch-up¡¯ with its upstream has highlighted a number of stresses in the country¡¯s oil sector: