Iraq Oil and Gas Market Size, Status, Demand and Global Outlook 2021- Exxon Mobil Corporation, BP PLC, China Petroleum & Chemical Corporation

The Iraq Oil and Gas market is a comprehensive market research report which provides market analysis with a historical & futuristic perspective for the following parameters; market size, revenue, demand, and supply data (as applicable). The report offers a detailed market analysis to provide a 360-degree research study on the global Iraq Oil and Gas market. Some of the tools used for this are SWOT, PESTEL, and Porter's 5-forces analysis frameworks. The report includes detailed information on the key trends, market drivers, challenges, regulatory landscape, deployment models, opportunities, future roadmaps, value chains, player profiles, and strategies. The impact of the COVID-19, and also forecasts its recovery post-COVID-19. The report also presents forecasts for Iraq Oil and Gas from 2021 till 2026.

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The oil and gas market in Iraq is expected to grow at a CAGR of more than 2.4% during the forecast period of 2020-2025.
Factors such as increasing oil and natural gas production and consumption, upcoming pipeline infrastructure projects, plans to improve oil infrastructure across the country, and rising investment in all three oil and gas sectors are expected to boost the growth for the Iraq oil and gas market during the forecast period. However, increasing conflict with the local population due to substandard environmental clearances and extensive usage of scarce water, especially in the Basra region, has caused widespread concerns among the people which, in turn, is expected to have a negative impact on the upcoming projects in the country.

- The upstream sector is expected to dominate the market in the forecast period owing to its large size and new investments into the modernization of the technology. The significant increase in the natural gas production is also expected to provide boost to the market.

- As oil is expected to remain one of the main components in the energy mix, it can become an opportunity for companies to exploit the conventional oilfields with excellent grade of oil at cheaper rates and increase their profitability.

Top leading Manufacturers Profiled in Iraq Oil and Gas Market Report are: Exxon Mobil Corporation, BP PLC, China Petroleum & Chemical Corporation, PJSC Lukoil Oil Company, Petroliam Nasional Berhad

Regional Analysis for Iraq Oil and Gas Market:

For a comprehensive understanding of market dynamics, the global Iraq Oil and Gas market is analyzed across key geographies namely the United States, Europe, China, Japan, Southeast Asia, India, Central & South America. Each of these regions is analyzed based on market findings across major countries in these regions for a macro-level understanding of the market.

Upcoming Projects in Oil and Gas Sector to Drive the Market

- A new refinery in the southern city of Karbala is expected to begin operations in 2022 and will have a production capacity of 150,000 barrels per day. IN 2019, the refinery is in construction.

- A pipeline is proposed for 400 USD million agreement, in which BP PLC and Eni SPA would build two seabed oil pipelines for Iraq's southern exports through the Gulf. The deal includes the replacement of an aging pipeline which transports crude pipeline to the Khor al-Amaya terminal.

- The value of oil projects in the design, bid evaluation, and main contract bid phases has also increased in the past few years. As the political instability has decreased in the country, the value of projects, and the risk investors are ready to make have increased dramatically.

- Oil production increased from 3,500,000 barrel/day, in 2015 to 4,400,000 barrel/day, in the early 2020. Oil production is expected to increase further in the forecast period. The country gains most of the profit through the export of crude oil.

- Hence, with rising oil production and refining activity across the country, the oil and gas are expected to witness a massive surge during the forecast period.

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What is the Impact of Covid-19 Outbreak on the Iraq Oil and Gas?

- Optimistic Scenario: COVID-19 is contained by May or June, With Normalcy returning to global operations through the End of Q2.
- Conservative Scenario: COVID-19 Remains Prevalent, with Continued Impacts Lasting into Q4.
- Estimated Impact of the Coronavirus (COVID-19) Epidemic on the Global Iraq Oil and Gas.
- Iraq Oil and Gas Market Size in 2021
- Corporate Strategy the Manufacturers Should Be Thinking About Right Now.

Frequently Asked Questions about the Iraq Oil and Gas market:

- What are the recent developments and government policies?
- What are the top trends in the Iraq Oil and Gas market?
- What is the growth rate of the market?
- Which Is the Most potential market segment?
- Which are the top industry players in the Iraq Oil and Gas market?
- Which region would offer high growth for vendors in the market?

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The research includes historic data from 2015 to 2021 and forecasts until 2026 which makes the report an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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