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Oil companies temper Iraq's dreams of production expansion

Reuters  |  LONDON 

By Ahmad Ghaddar and Dmitry ZhdannikovLONDON (Reuters) - Iraq, OPEC's second-largest producer of crude, is hitting a roadblock in the next phase of expanding its oil production capacity as the appetite of international energy firms for investing in the country's low-return environment slackens.Having slashed production targets in 2013 and 2014, most international oil firms in Iraq are revising their oilfields' plateau production levels even lower, and the discussions involved are moving slowly, Iraqi and company sources say. Growth has been the hallmark of Iraq's oil production in the past ...

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First Published: Wed, March 14 2018. 17:13 IST