Activity of oil companies of Iraq and their role in the world economy

Мохаммед, И. М. М.; Pizengolts, V. M.

doi:10.26425/2309-3633-2019-3-38-46

Cited by 2 publications

(1 citation statement)

References 2 publications

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“…In the process of Iraq's economy developing, the oil industry's infrastructure is developing, which is constrained by a number of problems and risks. In the authors' opinion, the problems are classified as "inherited" and associated with "path dependence" and reflect considerations such as the dependence on global oil prices; problems of transregional relations; lack of unified rules for the sustainable development of the oil and gas industry [1][2][3][4]; and the problem of providing electricity to industry and the population in Iraq [5][6][7].…”

Section: Introductionmentioning

confidence: 99%

Iraq Oil Industry Infrastructure Development in the Conditions of the Global Economy Turbulence

2022

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The resource orientation of the Iraqi economy implies the development of a competitive advantage of the oil industry through the industry’s infrastructure development. The authors' assumption is that as a result of the transport and production infrastructures' development of the extraction, processing and transportation of oil and oil products in the conditions of global economic turbulence and the availability of profitable mineral raw materials, domestic demand is restrained by both “inherited” problems and new challenges for the Iraqi oil industry. A review of changes in oil production over time has been carried out. The following problems have been identified: “inherited” problems of the oil industry's production infrastructure, insufficient capacities and technologies and unbalanced attraction and use of investments. It has been identified that problems vary with different infrastructures. For transport infrastructure, transportation security threats, the insufficient capacity of ports and routes, low level of management and technical implementation are the main problems. New challenges in the oil industry's infrastructural development are related to the fall in oil prices, the reorientation of supply chains, the “blockage” in world trade due to coronavirus infection and the challenge to expand the use of renewable energy resources to improve the quality of energy supply in terms of resource distribution. The aim of this study is to develop theoretical and methodological bases for the development of infrastructure in the Iraqi oil industry with reference to its background, associated with the turbulent path of the global economy. The substantiation of theoretical provisions and development of practical recommendations to facilitate development of the Iraq oil industry infrastructure are aimed at supporting the development of its infrastructure in view of economic and political instability. Thus, the theoretical and practical significance of the study lies in revealing the features and problems of the Iraq oil industry infrastructure functioning and the development of an algorithm of control for the development of its elements.

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Section: Introductionmentioning

confidence: 99%

Iraq Oil Industry Infrastructure Development in the Conditions of the Global Economy Turbulence

2022

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Russian Corporations Implementation of State Policy in Cooperation with Republic of Iraq (Field Development Example)

Grigorieva

Chasovskoi

2023

Pravo upr., XXI vek

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Introduction. Oil fields in the Republic of Iraq have traditionally been the subject to intense scrutiny of international fuel and energy companies. Iraq is one of the world leaders in terms of oil reserves. According to the Organization of Petroleum ExportingCountries (OPEC), Iraq ranks 4th in 2021 (145,019 million barrels). Russian oil companies are firmly expanding their presence in the Iraqi oil fields. In condition of unprecedented sanctions against Russia from the collective West, our country has to look for ways to ensure its energy sovereignty. Oil development in Iraq can be an effective way for Russian companies to achieve their potential. This article examines the prospects for increasing the reach of Russian oil companies in the oil fields of Iraq taking into account the current geopolitical situation, and the global agenda includes the opportunity for Russia to promote interests both in the Middle East and beyond.Materials and methods. In this study, general and particular scientific methods are applied. The genetic method should be highlighted, as it allowed to trace the process of formation and development of the Russian-Iraqi interaction, and to draw conclusion on the prospects for its expansion. The study also analyzes the international legal framework of Russian-Iraqi cooperation, oil production statistics in Iraq, materials published in the media, official statements by the Russian and Iraqi authorities.The results of the study. The conducted research allowed to substantiate the conclusion that Iraq is the most promising area for extending the activities of Russian oil companies. Nowadays, Russia and Iraq are following the path of multifaceted cooperation, including the economic sphere. Also, the prerequisites that favor joint activities of Russia and Iraq in the fuel and energy field are the proximity of the countries in the scientific and technical sphere, the extreme economic feasibility of increasing the volume of joint economic operations and the compliance of Russian-Iraqi collaboration with the national interests of both states.Discussion and conclusions. Partnership with the Republic of Iraq is of strategic importance for Russia in the Middle East. This is almost a win-win direction of foreign economic activity, since it brings mutual political and economic benefits. Iraq may become a new springboard for the penetration of Russian business deep into the Middle East region. It is necessary to further develop this course in order to adapt Russian politics and economy to the new realities of the international geopolitical situation.

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Activity of oil companies of Iraq and their role in the world economy

Cited by 2 publications

References 2 publications

Iraq Oil Industry Infrastructure Development in the Conditions of the Global Economy Turbulence

Iraq Oil Industry Infrastructure Development in the Conditions of the Global Economy Turbulence

Russian Corporations Implementation of State Policy in Cooperation with Republic of Iraq (Field Development Example)

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