Ellen Scholl, Deputy Director at the Atlantic Council’s Global Energy Center, report on ‘Shaping Iraq’s Oil & Gas Future’.

The report details the continuing importance of Oil & Gas to the Iraqi economy, providing an essential form of revenue and funds for recovery and development. It also discusses obstacles to reaching production potential and how best Iraq can manage resource wealth to provide economic stability for the future.

Introduction

“Oil and gas development is crucial to Iraq’s future as a primary source of revenue and a driver of the Iraqi economy. While oil and gas production cannot singlehandedly ensure Iraq’s recovery, such a recovery will prove elusive, if not impossible, without it. Oil production provides much-needed revenue and economic development and underwrites the Iraqi federal budget, while gas development could play a key role in Iraq’s future by fostering broad-based economic development, improving electric service provision, and fostering value-added industries. Additionally, increasing production could provide the basis for cooperation with neighboring countries and under-gird regional economic development and trade…”

 

Read the rest of the report here via the Atlantic Council: http://www.atlanticcouncil.org/images/Shaping_Iraqs_Oil_and_Gas_Future_web_0108.pdf

(Source: Atlantic Council)