Iraqi oil reserves vary widely in quality, with API gravities in 22 ( heavy ) to 40 ( light) range. Refining in Iraq is currently about 600 000 bpd , compared to a nameplate capacity of 700 000. Iraq is intending to build four new refineries adding 750 000 bpd to it refining capacity.

Iraq’s main oil export crudes come from both north and south oil fields with streams; Basrah ( normally API 34 ) from Arab Gulf terminals and Kirkuk ( normally API 36 ) from Ceyhan in Mediterranean. The current oil export is more than 2 million bpd currently and Iraq is hoping to reach its target of 10 million bpd in 2017.