Iraq s energy storage battery air transport capacity restrictions

How does Iraq's power sector perform?

Despite its vast energy resources, the performance of the country’s power sector is sub-optimal. Iraq’s power sector suffers from a double whammy: unsustainable growth in power demand, coupled with under-investment and a lack of reforms in generation, transmission, and distribution. The result is a growing mismatch between power supply and demand.

Does Iraq have a good power sector?

As a major producer, Iraq’s electricity sector is almost entirely dependent on fossil fuels, which account for more than 80% of power generation. Despite its vast energy resources, the performance of the country’s power sector is sub-optimal.

What is Iraq's refining capacity?

Iraq’s total operating refining capacity is about 1.2 million b/d.27 The Iraqi government plans to reduce petroleum product imports by rehabilitating the refining sector and building new refineries, but the government has struggled in its efforts to attract the foreign investment needed in the downstream sector.

Does Iraq have a power shortage?

Despite massive hydrocarbon reserves, including the world’s fifth-largest proved crude oil and 12th-largest proved natural gas reserves, Iraq struggles with chronic electricity shortages. Citizens do not have access to reliable electricity service and have to rely on expensive neighborhood diesel generators to cover some of the gap.

Does Iraq have a state of emergency?

64 Middle East Economic Survey, “Iraq’s Electricity Sector Enters State of Emergency,” August 5, 2022; Iraqi News Agency, “Al-Kadhimi: Dhi Qar Combined Cycle Power Plant provides an additional 500 MW of energy in the first phase,” June 12, 2021.

Does Iraq approve a $153 billion budget?

Ahmed Rasheed and Timour Azhari, Reuters, “Iraq approves record $153 billion budget including big public hiring,” June 11, 2023. International Monetary Fund, 2022 Article IV Consultation with Iraq, February 2023, Table 2, page 27. U.S. Energy Information Administration, OPEC Revenues Factsheet, June 2023.