Iraq may be on the cusp of a revenue windfall after losing billions of dollars annually due to its insufficient oil production facilities, according to investors.
International energy executives have been clinching new contracts to develop the hydrocarbon-rich country’s energy sector that, despite being OPEC’s second-largest producer, has failed to solve domestic poverty and infrastructure woes.
But foreign investors admit that lofty development goals continue to be hindered by sluggish administration, corruption and a wall of bureaucracy.
