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Analysis & Forecasts

Middle East & Africa

February 2018

Iraq has been reducing power sector consumption of crude oil since it started importing gas from Iran in July 2017. Direct crude burning fell from 205,000 barrels per day in June 2017 to 80,000 b/d in October, according to data from the International Energy Agency. This trend is likely to continue as imports of Iranian gas are expected to ramp up to 35 million cubic metres per day this year. New power generation capacity is being added as gas supplies increase as a result of...