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There is a long history of the petroleum industry in Iraq. Turkish-born Armenian Calouste Gulbenkian played a major role in making the petroleum reserves of the Middle East available to Western development and is accredited with being the first person to exploit Iraqi oil. [1]
Iraq was the world's 5th largest oil producer in 2009, and has the world's fifth largest proven petroleum reserves. Just a fraction of Iraq's known fields are in development, and Iraq may be one of the few places left where vast reserves, proven and unknown, have barely been exploited.
The Iraq Petroleum Company (IPC), formerly known as the Turkish Petroleum Company (TPC), is an oil company that had a virtual monopoly on all oil exploration and production in Iraq between 1925 and 1961.
The majority of Iraq's proven reserves of oil comes from the following cities: Basra (Being #1), Baghdad (Being #2), Ramadi (Being #3), and finally, Ba'aj (Being the last oil rich city). [3] A measure of the uncertainty about Iraq's oil reserves is indicated by widely differing estimates.
Iraq, [a] officially the Republic of Iraq, [b] is a country in West Asia and a core country in the geopolitical region known as the Middle East.With a population exceeding 46 million, it is the 35th-most populous country. It consists of 18 governorates.The country is bordered by Turkey to the north, Saudi Arabia to the south, Iran to the east, the Persian Gulf and Kuwait to the southeast ...
Oil royalties paid to Iraq were halved when the pipeline to Haifa was cut. Iraq signed the Baghdad Pact in 1956. It allied Iraq, Turkey, Iran, Pakistan, and the United Kingdom. Its headquarters were in Baghdad. The Pact constituted a direct challenge to Egyptian president Gamal Abdal Nasser. In response, Nasser launched a media campaign that ...
Despite this, the Iraqi government embarked on an Arabization program in the oil-rich regions of Kirkuk and Khanaqin. By 1974, tensions escalated again, leading to the Second Kurdish Iraqi War , which lasted until 1975.
