Iraq is in the process of developing a US$40-billion plan to build nuclear reactors as OPEC’s second-largest producer looks to end continual power outages amid a shortage of electricity supply, Kamal Hussain Latif, chairman of the Iraqi Radioactive Sources Regulatory Authority, told Bloomberg in an interview. Iraq has been suffering shortages of electricity supply since 2003, and those have led in recent years to protests where people have tried to enter oilfields to demand an end to the power outages. Electricity demand is exceeding supply now, and the gap is expected to widen further as demand grows if Iraq fails to resolve its power problem. Iraq even imports electricity and natural gas for electricity from neighboring Iran, for which it has received U.S. waivers to deal with Iran’s energy sector even under the American sanctions on Tehran.

reference : OIL PRICE