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

Abstract

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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