Expected ROI of domestic energy storage project in Iraq 2026

How much electricity is available in Iraq in 2022?

Federal Iraq’s available peak electricity generation supply was nearly 23 GW for 2022. The available supply in 2022 was much lower than the 34 GW needed to meet peak summer demand.66 Iraq’s electricity use is very seasonal and reaches peak capacity in the summer months.

Why did Iraq increase its crude oil output in 2022?

Iraq, one of the members of the OPEC+ agreement, raised its crude oil output (excluding condensates) in 2022 by nearly 400,000 barrels per day (b/d) from an average of less than 4.1 million in 2020 and 2021 to more than 4.4 million b/d, after the OPEC+ members reversed the significant production cuts made in 2020.

What percentage of Iraq's electricity comes from natural gas?

Nearly all (about 98%) of Iraq’s electricity generation is from oil and natural gas.62 Natural gas use in the electric power sector increased after 2016 because Iraq began importing natural gas from Iran to increase its own supplies. Hydroelectricity accounts for most of the remaining share of electricity production.63

How many barrels of oil a day in Iraq?

31 Iraq Business News, “Rehabilitation of 150,000-bpd Iraqi Refinery Underway,” August 17, 2023; Iraq Oil Ministry, News, “With a capacity of 20 thousand barrels per day..

How much natural gas is flared in Iraq?

According to the World Bank, Iraq flared more than 630 Bcf of natural gas in 2022, ranking as the second-largest source country of flared natural gas in the world, behind Russia.47 Natural gas is flared because of insufficient pipeline capacity and other midstream infrastructure to move the natural gas from crude oil production areas.