Analysis of Iraqi Oil production since 1970 with formulation of perceptions about future scenarios of oil revenue management

الملخص EN

The article attempts to give a clear vision about oil production in Iraq , In addition to discuss the perfect way to manage the financial returns of oil based on the experience of Norwegian and the United Arab Emirates to invest the oil money.

It is clear that oil production is influenced, negatively or positively by political and economic conditions and the relationship between these two variables is direct.

Whenever the country’s political and economic status is improved, will lead to increased oil production, and development includes all oil sectors.

Moreover, production increase leads to more capitals and investments which contribute effectively to the economic development.

On the contrary, any political, economic or martial deterioration or tension will lead to production fluctuation and stop.

Therefore, all essential sectors will be paralysed including oil sector.

Oil production means extracting the oil of its reservoir to the point of delivery, whether the consumer is a foreigner or a refinery.