BMI View: Increasing risks and the ramp up of a new of major upstream project highlight both the potential and perils of the Iraqi oil sector. Production performance and exports continue to fall victim to both politics and infrastructure constraints, even as substantial planned investment is planned for both Iraq and the autonomous Kurdistan region. As the political and security situation worsens, Iraq may miss out on some of the gains we have priced in over the coming years. Even as the Baghdad-Erbil relationship remains stubborn to resolution, progress on key projects such as the Basra Gas development and a …
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