Oil production in Iraq and efforts to nationalization of oil from 1920-1970

Iraq is currently one of the important crude oil producing countries. The country has 17% of the oil reserves in the Middle East and 8% of the world's oil reserves. According to Official Statistics data, Iraq, as an important member of OPCE (Organization of Petroleum Exporting Countries), is the second largest crude oil producer after Saudi Arabia. However, the income from these rich oil reserves in Iraq has been reflected in the development of the country's economy as it deserves. After Iraq became independent, major state-owned companies attempted to seize the country's important oil production fields. Iraq signed a series of oil economic and industrial cooperation agreements with the Soviet Union to end the monopoly rights of foreign oil companies. The Soviet Union's support for the nationalization of oil and its positive cooperation with Iraq's national oil company was an important factor in Iraq's decision to nationalize oil on June 1, 1972. Finally, the nationalization process, which started in 1958, was completed in 1972. Keywords: Iraq, OPEC, Western, Oil, Companies, Nationalization Number of Pages: VII+196 Advisor: Prof. Dr. Cavid QASIMOV