The storm brewing on the Organization of Petroleum Exporting Countries (Opec’s) horizon over future Iraqi oil output could engulf the producer group sooner than it would like.
Iraq’s Finance Ministry Undersecretary, Fazil Nabi, has announced on Sunday that the International Monetary Fund (IMF) is going to push Iraq forward in order to shift into a “private sector” system, in order to grant it a loan to cover the deficit into its state budget.
The World Bank Group’s Board of Executive Directors today approved a US$250 million Development Policy Loan to the Government of Iraq.
The 2010 budget is for $71.29 billion and the second largest amount since Iraq regained its sovereignty in 2005. A breakdown of spending shows that operational spending, which goes towards salaries, pensions, and the food ration system is – again – almost ¾ of the budget, and that electricity appears to be the priority of […]
More than 48 exhibitions will be held in Iraq, including 25 exhibitions in Baghdad of various industrial and commercial sectors, this year.
The Iraqi government has called on Kuwait to end the debts discussion ongoing since the invasion of the former regime in August 1990.
A delegation from Canada held a meeting on Wednesday with officials of the Basra Investment Commission (BIC) to discuss the possibility of establishing projects in the province, a media official said.
A delegation from Basra province arrived in India on Wednesday to sign contracts related to electricity sector.
A group of Iranian companies has expressed their readiness to invest in Iraq’s economic sector, particularly in the industrial field. “The head of the Baghdad Investment Commission, Shakir al-Zamili, has met with representatives of a group of Iranian firms working in different fields,” according to a statement released by the commission in Baghdad and received […]
Bloomberg reports that the Iraqi Central Bank cut its key interest rate by one percentage point to 6%, to boost economic growth as inflation slows, according to figures posted on the bank’s website. The country’s real growth in gross domestic product probably slowed to 4.3 percent in 2009, from 9.5 percent the previous year, as […]
Negotiations for renewing the Kirkuk-Ceyhan pipeline agreement, which expires at the end of March, began in 2009 and were sealed this month by Iraqi Deputy Oil Minister Ahamd al-Shamma and Turkish Energy Minister Taner Yildiz.
Chinese firm Daqing and a joint venture between Schlumberger and the state-owned Iraq Drilling Co are each being awarded contracts to drill 21 new wells, while Weatherford International was awarded seven new wells.