Petroleum discovery in a country presents its policy makers with a challenging and complex task: formulating and agreeing on policies that will shape the country's petroleum sector and guide the translation of the newly discovered resources into equitable and sustainable economic and social...

Every oil producing nation is confronted with a complex and fundamental ethical dilemma. On the one hand, there are moral arguments for the nation to use the petroleum resource for the benefit of society and make it available for countries who do not have this natural resource endowment. On the...

Front Cover -- Contents -- Preface and Acknowledgments -- Contributors -- Abbreviations -- Introduction -- Chapter 1. The Petroleum Value Chain and Governmental Policies: An Overview -- The Petroleum Value Chain -- Measuring Value Creation -- Creating Value -- Sector-Specific Policies --...

Iraq's economy is gradually emerging from the deep recession caused by the pandemic and the plunge in oil prices in 2020. Higher oil revenues pushed Iraq's overall fiscal and external balances into a surplus in 2021. The turnaround in oil markets has significantly improved Iraq's economic...