Iraq: Energy profile

There have been various estimates, but in general Iraq is thought to hold 115 billion barrels of proven oil reserves, and possibly much more undiscovered oil in unexplored areas of the country.

According to the Oil and Gas Journal, Iraq contains 115 billion barrels of proven oil reserves, the third largest in the world (behind Saudi Arabia and Canada), concentrated overwhelmingly (65 percent or more) in southern Iraq.

Estimates of Iraq’s oil reserves and resources vary widely, however, given that only about 10 percent of the country has been explored.

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