Evaluating Economic Performance Efficiency of Basra Oil Company for the Period (2015- 2019) An Analytical and Comparative Study

Abstract

The process of evaluating economic performance efficiency in industrial companies is considered as a measurement to achieve the utmost possible production with the lowest costs. This process of evaluation shows the extent of development and progress in the industrial facilities. This is achieved through comparing between the previous years and between the current ones in order to obtain the extent of economic efficiency of the industrial facility and thus identifying and addressing deviations and setting future plans. Iraqi economy depends greatly on oil revenues which represent most of the country's revenue of foreign currencies and GDP (Gross Domestic Product). Then Iraqi oil industries are the main source of the financial status in Iraq and a vital resource of economy and the continuous construction efforts of Iraq, especially those regarding oil industries, infrastructure of power and development. The Iraqi Ministry of Oil is responsible of the oil sector that follows the federal government, it has established many national oil companies such as Basra Oil Company which is one of those significant and basic companies of Iraqi National Oil Company. Through research, it has become clear that this company requires more attention to the process of research and development and the need to constantly conduct a performance evaluation, and not to depend greatly on Licensing Rounds concerning service supplies in addition to the need for adoption and communicating with Iraqi universities and specialized research centers to develop the company's technology