| President |
Jalal Talabani (since 6 April 2005) |
| Prime Minister |
Nuri al-Maliki (since 20 May 2006) |
| Location |
Middle East; Borders Iran, Jordan, Kuwait, Saudi Arabia, Jordan and Syria, on the Persian Gulf |
| Major Cities |
Baghdad, Kirkuk, Basrah, Mosul |
| Independence |
October 3, 1932 (from League of Nations mandate under British administration); note - on 28 June 2004 the Coalition Provisional Authority transferred sovereignty to the Iraqi Interim Government |
| Population (2006E) |
27,499,638 |
| Languages |
Arabic, Kurdish (official in Kurdish regions), Assyrian, Armenian |
| Religion |
Muslim 97% (Shi'a 60%-65%, Sunni 32%-37%), Christian or other 3% |
| Ethnic Group(s) |
Arab 75%-80%, Kurdish 15%-20%, Turkoman, Assyrian or other 5% |
|
| Minister of Finance |
Bayan Jabr |
| Currency/Exchange Rate (6/2007) |
1,279 IQD per 1 USD |
| Inflation Rate (2005E), (2006E), (2007F) |
37%, 53.2%, 32.3% (annualized) |
| Real Gross Domestic Product (GDP) (2005E), (2006E) |
US $34.7 billion, US$53.0 billion |
| Real GDP Growth Rate (1995-2004 average), (2005E), (2006E),( 2007F) |
3.7%, 6.5%, 5.1% (Global Insight) |
| Unemployment Rate (2006E) |
Estimated 30-40 % |
| Foreign Debt (2006E) |
$55 Billion (loan forgives ongoing, IMF) |
| Merchandise Exports (2006E), (2007 F) |
$31.7 billion, $30.8 billion (Global Insight) |
| Exports – Commodities |
Petroleum, Petroleum Products |
| Oil Export Revenues (2006E) |
$31.3 billion (ITAO), IMF ($28.6 billion) |
| Oil Export Revenues/Total Export Revenues (2006E) |
97% (IMF) |
| Major Trading Partners (2006) |
Syria, Iran, Turkey, USA, E.U., China |
| Merchandise Imports (2006E), (2007F) |
$24.3 billion, $28.8 billion |
|
| Minister of Oil |
Husayn al-Sharistani |
| Minister of Electricity |
Karim Wahid al-Hassan |
| Proven Oil Reserves (January 1, 2007E) |
115 billion barrels of oil |
| Total Oil Production (2006E) |
2.0 million bbl/d |
| OPEC Crude Oil Production Quota (effective 2/01/2007) |
Suspended |
| Crude Oil Production Capacity (5/07E) |
2.1 million bbl/d |
| Oil Consumption (2006E) |
545,000 bbl/d |
| Crude Oil Refining Capacity (January 1, 2007E, Oil and Gas Journal) |
597,500 bbl/day (installed capacity, may not be fully functional); Other estimates as high as 640,000 bbl/d. |
| Net Oil Exports (2006 E) |
1.5 million bbl/d |
| Major Oil Importers (2006E, approximate net exports) |
E.U., India, China, Japan, South Korea, U.S. (Term-buyers, resale banned) |
| Proven Natural Gas Reserves (January 1, 2007E) |
112 trillion cubic feet (Tcf) |
| Natural Gas Production/Consumption (2005E) |
87 Billion cubic feet (Bcf) |
| Electricity Installed Capacity (2004E) |
2.8 Gigawatts (majority thermal; some hydroelectric) |
| Electricity Generation (2004E) |
29.3 billion kilowatt-hours (Bkwh) |
| Electricity Consumption (2004E) |
27.3 billion kilowatt-hours (Bkwh) |
| Total Energy Production (2004E) |
1.2 quadrillion Btu* (1 % of world total energy production). |
| Total Energy Consumption (2004E) |
4.4 quadrillion Btu* (< 1% of world total energy consumption) |
| Total Per Capita Energy Consumption (2004E) |
47.5 million Btu (vs. U.S. value of 342.7 million Btu) |
| Energy Intensity (2004E) |
20,448 Btu/$ -- PPP (vs U.S. value of 9,336 Btu/$)** |
|
| Energy-Related Carbon Dioxide Emissions (2004E) |
84 million metric tons (0.3% of world carbon dioxide emissions); of which Oil (94%), Natural Gas (6%), Coal (0%) |
| Per-Capita, Energy-Related Carbon Dioxide Emissions (2004E) |
3.3 metric tons (vs. U.S. value of 20.2 metric tons of carbon dioxide) |
| Carbon Dioxide Intensity (2004E) |
1.42 metric tons/thousand $ -- PPP (vs. U.S. value of 0.55 metric tons/thousand $)** |
| Environmental Issues |
Saddam-era government water control projects drained much of marsh areas east of An Nassiriyah by drying up or diverting the feeder streams and rivers; displacing millions of people and threatening of the habitat and wildlife populations (although there has been some restoration); inadequate supplies of potable water; development of the Tigris and Euphrates rivers system contingent upon agreements with upstream riparian Turkey; airs, soil water pollution; soil degradation (salination) and erosion; desertification |
| Major Environmental Agreements |
Law of the Sea – Party; Environmental Modification - Signed, not ratified; Nuclear Test Ban - Party |
|
| Organization |
Petroleum draft law currently in negotiation; will set governance of sector. Reestablishment of the Iraq National Oil Company (INOC) proposed; which will control fields designated “developed” or “near development.” Governorates will have control over new prospects. Will establish a regulatory/oversight body. Status of downstream organization unknown. Currently, the Supreme Oil and Gas Council has overall authority, along with the Oil Ministry. The North Oil Company (NOC) and South Oil Company (SOC) are the two main upstream oil companies, with the North Gas Company (NGC) and South Gas Company (SGC) being the equivalents on the natural gas side. Other important entities include the Iraq Drilling Company, Oil Exploration Company, Oil Pipelines Company, Oil Products Distribution Company, the State Company for Oil Projects (SCOP), and the State Oil Marketing Organization (SOMO). |
| Major Oil Terminals |
Al-Basra, Khor al-Amaya, Khor az- Zubair, Um Qasr, Abu Fulus |
| Major Refineries (capacity, bbl/d, January 1, 2007E) ; Oil and Gas Journal |
Baiji (310,000), Basrah (150,000), Daura (110,000), Khanaqin (12,000), K-3/ Haditha (7,000), Mufthiah (4,500), Qaiyarah Mosul (2,000), Kirkuk (2,000) |
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* The total energy consumption statistic includes petroleum, dry natural gas, coal, net hydro, nuclear, geothermal, solar, wind, wood and waste electric power. The renewable energy consumption statistic is based on International Energy Agency (IEA) data and includes hydropower, solar, wind, tide, geothermal, solid biomass and animal products, biomass gas and liquids, industrial and municipal wastes. Sectoral shares of energy consumption and carbon emissions are also based on IEA data.
**GDP figures from OECD estimates based on purchasing power parity (PPP) exchange rates.
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