Iraq: The Changing Landscape of Iraq's Energy Sector: Balancing East and West

Nov 15, 2024 | Shafaq News
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Iraq, with the world's fifth-largest oil reserves, is a cornerstone of the global energy market. While its oil sector accounts for over 90% of government revenue, challenges like outdated infrastructure and political instability persist. To modernize, Iraq is pursuing Western investments to boost efficiency and achieve gas self-sufficiency. Simultaneously, China’s growing presence in its energy sector, fueled by the retreat of Western firms, highlights a shifting dynamic. Iraq now navigates a delicate balance between fostering modernization and managing competing geopolitical influences.