The Republic of Iraq is a country located in southwestern Asia, at the northern tip of the Persian Gulf. Some of the world's greatest ancient civilizations--Assyria, Babylonia, and Summer--developed in the area that now makes up Iraq. The modern state of Iraq was created in 1920 by the British government.
Perched on oil reserves of 120 billion to 200 billion barrels of crude, Iraq's reserves are second in size only to Saudi Arabia's. It has 11 per cent of the world's proven reserves with the resting 89 per cent divided in the other 178 countries of the world.
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