Iraq Energy Overview

Iraq's energy sector plays a crucial role in its economy, with petroleum being the cornerstone of its production and exports. As of 2023, Iraq produces approximately 4.448 million barrels of petroleum per day, underscoring its status as a major oil producer globally. The country holds an estimated 145.019 billion barrels of crude oil reserves, making it one of the largest in the world. Electricity consumption in Iraq is significant, reaching 73.521 billion kWh in 2023, although the country faces substantial transmission and distribution losses, amounting to 79.904 billion kWh. Despite being rich in natural gas, producing 10.537 billion cubic meters and having proven reserves of 3.729 trillion cubic meters, Iraq imports 8.771 billion cubic meters to meet its demand. The energy infrastructure is heavily reliant on fossil fuels, comprising 98.8% of the total installed capacity, with minimal contributions from solar and hydroelectric sources. Explore Iraq’s dynamic energy landscape and its impact on the nation's development.