Boston, MA -- (SBWIRE) -- 10/27/2014 -- The escalation of the security situation in Iraq has been detrimental to the progress of the country and significantly impacted its future oil and gas growth prospects. Gas projects in the west and north have been cancelled or suspended due to violence, while major oil and gas companies have delayed expansion projects and evacuated non-essential staff. As a result we have revised down our long-term oil production forecast.

We highlight the following trends and developments in Iraq's oil and gas sector:

- The destabilising impact of Islamic State (IS) militants in Iraq has significantly worsened the security situation and hit investor confidence.

- The Turkish, Kuwaiti, Korean consortium developing the Mansouriya gas field has suspended operations due to regional unrest. Kogas is also looking to sell its share in the Akkas project in Anbar.

- Major oil and gas firms have evacuated non-essential staff from both southern Iraq and the region of Kurdistan as violence continues to be a threat. The development of the Halfaya, West-Qurna-1, West-Qurna-2, Majnoon, Zubair and Rumalia fields are all phased, and we expect the next stages to be delayed until a clearer picture of Iraq's future is formed.

- Accordingly, we have revised our long-term forecast down....

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The Iraq Oil & Gas Report has been researched at source and features Business Monitor International (BMI)'s independent forecasts for Iraq including major indicators for oil, gas and LNG, covering all major indicators including reserves, production, consumption, refining capacity, prices, export volumes and values. The report includes full analysis of industry trends and prospects, national and multinational companies and changes in the regulatory environment.

BMI's Iraq Oil & Gas Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and competitive intelligence on the Iraqi oil and gas industry.

Key Benefits

- Benchmark BMI's independent oil and gas industry forecasts for Iraq to test consensus views - a key input for successful budgeting and strategic business planning in the Iraqi oil and gas market.

- Target business opportunities and risks in the Iraqi oil and gas sector through reviews of latest industry trends, regulatory changes and major deals, projects and investments in Iraq.

- Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity) and Competitive Landscape Tables.

Coverage

BMI Industry View

Summary of BMI's key forecasts and industry analysis, covering oil and gas reserves, supply, demand and refining, plus analysis of landmark company developments and key changes in the regulatory environment.

Regional Overview

Regional perspective on size and value of industry sector; comparative rankings by production, refining, imports and exports of oil, gas and LNG.

Business Environment Rankings

BMI's Oil and Gas Business Environment Rankings provide a country-comparative Risk-Reward Rankings index aimed at investors (independents, NOCs, IOCs and oil services companies) in the upstream and downstream markets.

The rankings methodology makes sophisticated use of more than 40 industry, economic and demographic data points and is part of BMI's integrated Country Risk-Industry Rankings products.

Oil Market Outlook and Oil Products Outlook

Based on our country coverage of over 99% of global oil and gas production and consumption, BMI provides demand, supply and price forecasts to end-2018 for oil, gas and oil products

BMI Industry Forecasts

Historic data series and forecasts to end-2018 for all key industry indicators (see list below), supported by explicit assumptions, plus analysis of key downside risks to the main forecast, including:

Pricing: Oil price (US$/bbl, WTI, Brent, OPEC basket, Urals); Oil products prices (unleaded gasoline, gasoil/diesel, jet/kerosene - US$/bbl) at global hubs

Production, Consumption, Capacity and Reserves: Proven oil reserves (bn barrels), production, consumption, refinery capacity and throughputs (`000b/d); Proven gas reserves (tcm), production and consumption (bcm)

Imports and Exports: Oil exports/imports (`000b/d), value of oil exports/imports (US$mn - BMI base case); Value of oil exports at constant US$50/bbl and constant US$100/bbl (US$mn); Gas exports/imports (bcm), Value of gas exports/imports (US$mn); Value of gas exports/imports at constant US$50/bbl and US$100/bbl (US$mn); Value of petroleum exports/imports (US$mn); Value of petroleum exports/imports at constant US$50/bbl and US$100/bbl (US$mn)

BMI Macroeconomic Forecasts

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