Revenues fell with global oil prices, but higher export volumes through Ceyhan helped offset a pipeline leak that temporarily halted Basra Gulf tanker loadings.
Iraq’s failure to upgrade its key southern oil export facilities has left its oil sector vulnerable to the risk of major shut-ins. A pipeline leak earlier.
Iraq has temporarily lost more than 1.3 million bpd of export capacity after the Al-Basra Oil Terminal went offline early Friday due to leaks from a failing subsea pipeline.
Few countries have oil reserves as deep as Iraq.
The extractive industries bring jobs and tax revenues to a nation that has been hobbled by invasion, war and insurgency for close to two decades. Yet this economic activity comes at a cost.
Oil spills, pollution and declining air quality have taken a significant toll on the environment, and on the health of many Iraqis. On top of this, greenhouse gas emissions from the oil industry continue to contribute to global warming while some areas of Iraq are expected to become uninhabitable in the coming decades.
Yet assessing the true scale of the issue and exactly how pollution happens in Iraq is a demanding task. When applying for the Green Climate Fund in 2019, the Iraqi government together with the UN Environment Program, outlined insufficient collection of environmental data as a challenge to implementing policies countering climate change. Precise information around the sources and impact of pollution on many Iraqi communities also