Shell Faces ‘No Difficulty’ on Gas – Iraq

Iraq and Royal Dutch Shell Plc can reach an agreement on a gas project by extending negotiations for another six months in order to settle storage issues, Oil Ministry spokesman Asim Jihad said. Jihad said there were “no difficulties” in the talks, except that “storage places are currently not ready.” “There is no harm in […]

IEA: Oil Prices Could Hurt Economic Recovery

Recovery in the world’s biggest economies could be jeopardized if crude oil prices stay over $80 per barrel, the International Energy Agency said Tuesday. The IEA also reported that OPEC posted the first “significant decline” in output in March in more than a year — falling 190,000 barrels per day to 29 million barrels a […]

Solution Closer on Paying Oil Firms

Kurdish and federal Iraqi officials have agreed on a potential solution to the problem of paying oil firms operating in the Kurdish north. They require approval by the Iraqi cabinet, a Kurdish official said to Reuters. Abdul Karim Louaibi, Deputy Ol Minister and a delegation travelled to Erbil on Sunday and held talks with natural […]

Agriculture Ministry to Import Helicopters

The Iraqi Ministry of Agriculture signed a contract on Monday to import seven helicopters that will be used for agricultural purposes. “The contract’s total value is €17.4 million”, the Ministry said in a press release received by Aswat al-Iraq news agency. It noted that the helicopters will be supplied with spare parts. “The company that […]

Iranian Consul Meets with Basra Council

The deputy head of the Basra council, Ahmed al-Sulaity, met with the Iranian consul to discuss plans for future cooperation in the areas of power and water, according to an official statement. “Throughout the meeting views have been exchanged concerning cooperation between Basra province and the Islamic Republic of Iran in order to achieve the […]

6,600 Apartments to Be Built in Basra

The investment commission in Basra has announced a project to build 552 housing units in Basra’s Faw district, the head of the commission said on Monday. “Each unit is made up of three stories and 12 apartments of 100 square meters each”, Haydar Ali told Aswat al-Iraq news agency. A theme park project will also […]

Foreign Investment Continues, as Lukoil Announces Plans

Foreign direct investment continues in Iraq as the pace picks up on the rehabilitation of the country’s infrastructure and economic base.  Russian-based LuKoil is to drill its first exploration well at Iraq West Qurna 2.  Mr. Vagit Alekperov CEO of LUKoil said that Russia’s largest privately held oil company, LUKoil, “[will] start drilling the first […]