NATIONAL ENERGY OUTLOOK REPORT

National Energy Outlook Report

Executive Summary2

Introduction/background3

Global Overview3

Country specific detail5

History5

Present State6

National Economics: Demand and Supply6

Developing Markets8

Demographics9

Population Growth in Iraq10

Energy Resources: Fossil Fuels, Alternatives10

Alternative/Unconventional Energy Sources11

Future Technology (R&D)11

Politics, Policies, Legislation and Ethics11

Environment12

In-Depth Analysis of Political Stability and Terrorism12

Conclusion15

References16

Appendices20

National Energy Outlook Report

Executive Summary

The report studies the national energy outlook for Iraq. The future of Iraq's national as well as global energy market differs in many ways from what it is now. The trends and realities are changing day by day. The global energy demand is expected to grow by more than 35% from 2011 to 2030 (BP 2013: 4). However, supply patterns are shifting. According to the BP energy outlook 2030, the United States seems to be self-sufficient in energy, till 2030. However, India and China are going to be increasingly dependent on import.

Iraq is the 3rd largest oil exporter of the world and possesses enough plans and resources to increase its oil and gas production rapidly. Iraq is in a recovery phase from the conflict and instability of last three decades. The hydrocarbon potential of the country can largely contribute to its social and economic prosperity and development. In case Iraq fails, the global energy market will face trouble (IEA 2012: 1).

The search for alternatives of fossil-fuels remains high in the future. Lots of emphasis will be put on clean energy. The bio fuels are fastest growing with an average growth of 7.6% p. a. Nuclear fuel consumption will grow 2.6% p. a, whereas, hydro will grow by 2.0% p. a. Gas will grow fastest, with 2.0% p. a. Gas will be trailed by coal with a growth of 1.2% p. a, and oil with an average growth rate of 0.8% p. a (BP 2012: 11). However, the economic prosperity of the country is highly dependent on political stability and social integration in the country.

Introduction/background

The world is going to face very tough challenges implied by tightening energy supplies, rising energy demands, growing impacts of changes in climate and increased economic volatility. Governments and companies are introducing new ways of looking to the future to decide the path to take for meeting the energy needs of people, without hurting the environment (Shell 2013). The report studies Iraq's energy outlook to 2030. It emphasizes on the way in which energy sector can contribute to Iraq's social and economic development and in the way it can affect the global energy market of oil and gas. The energy sector of Iraq holds the most important key to the future prosperity of the country. It is expected to remain the major contributor to the security and stability of international energy market. The improvement in Iraq's energy sector will require continuing and huge investment, motivated by social and political stability in the region. Iraq's production is expected to increase to 3.6mb/d by 2015, 5.3 million barrel per day by 2025 and 6.1 million barrel per day by 2030 (Khajavi 2010).

Global Overview

The increasing population and income growth are expected ...