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With financial strain due to the ongoing fight against the Islamic State, Iraq has reached agreements with several foreign oil companies to increase production on Iraq’s huge oil fields. The country gets almost all of its revenue from oil, and recent low oil prices have complicated its finances. In addition to increasing production by 250,000-350,000 barrels per day in 2017, oil companies BP, Shell and Lukoil will also restart development on new oil fields.

Read more about foreign oil investment in Iraq.

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