Iraq criticized for oil metering delays

Auditors cannot reconcile oil revenues and expenditures because Iraq cannot fully measure its flow of crude
Iraq criticized for oil metering delays
An oil worker walks past pressure gauges at the Anzalla oil field in Ninewa province. (JOE RAEDLE/Getty Images)

Iraq has fallen far behind on stated goals to account for its oil production, exports and revenues as the country prepares to assume complete sovereignty over its finances, according to newly released reports.

The U.S. auditing firm PricewaterhouseCoopers (PwC), in a presentation given late last month in Paris before a UN-appointed watchdog over Iraqi oil revenues, said Iraq still lacks the modern system of metering necessary to track the production, transportation, and export of crude.

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