World Energy Outlook

Iraq Energy Outlook (Released on 9 October 2012)

Iraq Energy OutlookI‌raq Energy Outlook

Iraq is already the world’s third largest oil exporter. It has the resources and intention to increase its oil production vastly. Contracts are already in place.  Will Iraq’s ambitions be realised? And what would the implications be for Iraq’s economy and for world oil markets? The obstacles are formidable: political, logistical, legal, regulatory, financial, lack of security and insufficient skilled labour. One example: in 2011 grid electricity could meet only 55% of demand. The International Energy Agency has studied these issues with the support and close cooperation of the government of Iraq and many other leading officials, commentators, industry representatives and international experts.  This special report, in the World Energy Outlook series, presents the findings.

The report:

  • Examines the role of the energy sector in the Iraqi economy today and in the future.
  • Assesses the oil and gas revenues and investment needs.
  • Provides a detailed analysis of oil, gas and electricity supply through to 2035, highlighting the challenges of infrastructure development and water availability.
  • Spells out the associated opportunities and risks, both for world oil markets and the shaping by Iraq of its economy and energy sector.

21 May 2013: Dr. Fatih Birol was presented with two special awards from the Iraqi Deputy Prime Minister, Hussein Al-Shahristani, and the Minister of Foreign Affairs, Hoshyar Zebari in appreciation of the work he and his team carried out for the Iraq Energy Outlook in 2012. The awards were presented to Dr. Birol by Fareed Yasseen, the Iraqi Ambassador to France, at a ceremony held in his honour. In addition to IEA senior managers and the WEO team, the ceremony was attended by over a dozen OECD ambassadors, several industry representatives, as well as high-level French and Iraqi officials.  During his speech, Ambassador Yasseen thanked Dr Birol and his team for carrying out what he called an extremely important piece of work that presented “a realist’s perspective” on the development of Iraq’s energy sector, adding that the Iraq Energy Outlook had become a key document for Iraqi policymakers and officials.
See picture (Hurriyet).
Dr Birol's acceptance speech.

10 October 2012: Iraq's Deputy Prime Minister for Energy H.E. Dr. Hussain al-Shahristani "Special thanks and appreciation to Dr Fatih Birol and his team in the International Energy Agency for preparing this highly informative and constructive report and findings on Iraq Energy Outlook and its present and future effect on Iraqi economy on the one hand and the world energy market on the other. The detailed analysis and projections of the report is an excellent contribution to the studies that are conducted by many international professional groups on Iraq energy, and constitute and authoritative evaluation of the future world oil demand and Iraq's oil potential and capabilities in meeting the expected demand."

Press release

International Press Coverage

Presentation from the International Press launch - WEO Iraq Outlook special report
by Ms. Maria van der Hoeven, IEA Executive Director and Dr. Fatih Birol, IEA Chief Economist

Full report

Read the full report in Arabic

Read the full report in Chinese

Executive summary in English
Executive summary in Arabic
Executive summary in Chinese
Executive summary in French
Executive summary in Japanese
Executive summary in Korean
Executive summary in Russian


Video - Launch of the Iraq Energy Outlook in London:

VIDEO: Iraq Energy Outlook 2012 Launch - Introduction

VIDEO: Iraq Energy Outlook 2012 Launch - Presentation

VIDEO: Iraq Energy Outlook 2012 Launch - Q&A


Read more:
IEA Workshop on Iraq Energy Outlook, Istanbul
IEA fact-finding mission to Baghdad
IEA to prepare in-depth energy outlook of Iraq