Evaluation of Relationship between Oil Revenues and Government Budget in Iraq: 2006-2016 Period

Mehmet Dağ, Semih Serkant Aktuğ, Zavar Salah Ali Alı

Abstract


The primary purpose of this study was to examine the relationship between oil revenues and government budget in Iraq for 2006-2016. The study found that, Iraq’s oil production curve in recent years has remarkably specified the positions, even if not mainly at the levels estimated earlier, as more positive forecasts. Iraq has developed to be the world’s fourth-largest oil exporter. This study confirmed that, the critical element for Iraq’s economy is that, the country depends on oil and 97% of the government revenues are from its oil exports. While challenges continue to achieve the aims of increased oil production, opportunity for Iraq’s resources to produce revenue and pay for broad-based economic development still exists.


Keywords


Energy; Oil Production; Government Budget; Budget Revenues; Oil Exports

Full Text:

PDF

References


AEC. (2014). Iraq Republic Paper. The 10th Arab Energy Conference, Abu Dhabi, United Arab Emirates, 1-34.

Alnasrawi, A. (1994). The Economy of Iraq, Oil, Wars, Destruction of Development and Prospects, 1950-2010, London: Greenwood Press. Westport, Connecticut.

Battat, M. S. (2010). The Economic Effects of the Implementation of the Oil and Gas Law in Iraq. Al-Ghari Journal of Economic and Administrative Sciences, 3(17), 56-89.

Devolde, H. (2006). Oil and Gas Production, Handbook, An Introduction to Oil and Gas Production.

EIA. (2015). Country Analysis Brief: Iraq. Washington D.C.: U.S. Energy Information Administration, U.S. Department of Energy. Retrieved 7 17, 2018 (July 17, 2018), from https://www.eia.gov/beta/international/analysis_includes/countries_long/Iraq/iraq.pdf.

Energy Information Administration (EIA). (2007). Official Energy Statistics from the U.S. Gov’t, Iraq: Oil. Energy Information Administration. Retrieved 2 12, 2018, from www.eia.doe.gov/emeu/cabs/iraq/Oil.html.

Haddad, A. (1989). Petroleum Industry and Derivatives. Beirut, Lebanon: Institute for Arab Development.

Hammadi, I. O. (2010). Structural Imbalances in the Iraqi Economy: Diagnosis and Treatment (3rd Edition ed.). Iraq Center for Studies.

Hughes, M. P. (2011). Shaping and Re-Shaping Social Capital in Buyer-Supplier Relationship. J.Bus.Res., 64(2), 164-171.

IEA. (2011). Key World Energy Statistics. International Energy Agency.

IMF. (2015). IMF Country Report No. 15/235.

IMF. (2016). IMF Country Report No. 16/379. Washington, D.C.: International Monetary Fund Publication Services.

Iraq Oil Report. (2014). Despite March Exports Drop, Record Output for New Buoys. IOR.

Iraqi Ministry of Oil. (2016). Iraq Oil Report. Ministry of Oil. Retrieved 07 03, 2018 (July 3, 2018), from https://oil.gov.iq/index.php?name=Pages&op=page&pid=91

Joseph, S. (2016). Iraq: Oil Prices and Economic Management. MEEA 15th International Conference, Doha.

Manhal, M. Y. (2006). Feasibility of Iraq's Accession to the World Trade Organization. Baghdad: University of Baghdad.

Oil & Gas Journal. (2016). Worldwide Look at Reserves and Production. OGJ.

OPEC. (2006). Annual Statistical Bulletin 2005. Vienna: OPEC.

Portman, C. (2005). Reconstruction of Iraq: Economic Reform and Transition. World Bank.

Rubaie, K. F. (2006). Iraq's Oil Sector between Reality and Future Prospects. Baghdad: University of Baghdad.

Scholl, E. (2018). Shaping Iraq's Oil and Gas Future. Atlantic Council, Global Energy Center.

U.S. Energy Information Administration. EIA, (2016). Country Analysis Brief: Iraq. EIA.




DOI: https://doi.org/10.5195/emaj.2019.164

Refbacks

  • There are currently no refbacks.




Copyright (c) 2019 Mehmet Dağ, Semih Serkant Aktuğ, Zavar Salah Ali Alı

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.