Introduction Iraq is one of the world’s largest oil producers, where both national and international oil companies play a vital role in extracting, refining, and exporting oil, thereby strengthening the national economy.

Achievements of Oil Companies in Iraq

1. Increased Production: Companies have managed to raise oil production to record levels, exceeding 4 million barrels per day.
2. Expansion of Exploration Activities: Oil companies are working on developing new fields and increasing explorations.
3. Enhancing Refining and Exporting: New refining units have been inaugurated to improve the quality of petroleum products and reduce imports.

Challenges Facing the Sector

• Fluctuations in global oil prices and their impact on the economy.
• The need to modernize infrastructure to keep up with advancements in production technologies.
• Environmental challenges associated with oil extraction.