Iraq is being torn by sectarian strife, but its oil revenues serve as a political shock absorber, upholding the present political system. Expansion of oil production is slow and the autonomous region of Kurdistan is proving the most stable environment for Western companies. In the second of a two-part series, Professor Amatzia Baram looks at Iraq’s economy and says foreign entrepreneurs seeking attractive opportunities in the rest of the country should approach the provincial authorities and local sheikhs (elders).

IRAQ'S officially proven oil reserves are approaching 115 billion barrels. In 2013 the Iraqi Ministry of Oil reported an increase to 143 billion barrels. If this is correct...

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Professor Dr. Amatzia Baram
Iraq’s production development may depend not only on its abilities but also on the policies of the Organisation for Producing and Exporting Countries (OPEC)
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