A New Hotbed For Oil Mergers And Acquisitions

1. Iraq’s Oil Ambitions Face Harsh Reality of Low Investment- Iraq’s oil production capacity is set for a decline in the long term as political infighting and worsening upstream terms disappointed Western majors, leading to years of insufficient investment. - Having enjoyed steady output growth in the early 2010s, Iraqi oil production has been stagnating at around 4.5 million b/d, despite repeated government calls for a 7-8 million b/c production capacity. - Low recovery factors, high natural decline rates and lacking government funding…