Brief Analysis
Increasing natural gas production and enhancing the oil industry are critical to reviving Iraq s economy.
Iraq’s White Paper includes several measures to develop and reform the country’s oil and gas industry. These steps will help increase efficiency and production, explore untapped resources and diversify Iraq’s fossil fuels industry more towards natural gas.
The goal of the White Paper initiative, launched in October 2020, was to address the state’s budget deficit, restructure the economy, improve the performance of financial institutions and establish systematic programs and plans to address the difficult economic circumstances the country is facing. In order for the White Paper initiative to achieve these goals, it has included significant reforms for Iraq’s oil and gas sectors.