Former British Prime Minister Tony Blair is alleged to have received cash from a Korean oil firm run by a former bribery convict for advice on Iraq’s oil-rich Kurdistan, according to news reports in Korea. It had been kept secret for nearly 20 months before it was revealed last week. Blair, who has been accused […]
Heritage Oil, this month will sell its Ugandan operations for $1.35bn after more than a decade of development work. writes Miles Johnson in the Financial Times The cash will be used to pay investors a special dividend of between 75p and £1 per share, and to delve into fresh projects in Africa and the Middle […]
Specialized teams in the agricultural department in Karbala have succeeded in the experimental production of wheat through the use of dripping techniques. “A research team, led by Eng. Darar Ali Hussein, has conducted the experiment on an area of more than 2 donums (1 donum =2,500 square meters),” a local media spokesperson told Aswat al-Iraq […]
The Karbala governor has opened a modern butcher’s shop in the city, which was constructed by a local company at a total cost of 1 billion Iraqi dinars, a media spokesperson said on Saturday. “The shop is located on the main road between Karbala and Najaf,” Zaheer Majli told Aswat al-Iraq news agency. “The butcher’s […]
The Ministry of Oil has discussed with Baghdad City Council a mechanism for the distribution of fuel and Kerosene Oil to them through a fuel card. “ Mr. Akram has stressed the establishment of a committee, composed of representatives of the Ministry and City Council for the printing of new fuel cards” as the current […]
The Iraq Ministry of Agriculture has said that the domestic production of agricultural crops and eggs has started to supply a big part of the needs of the Iraqi market. A source in the Ministry said that banning the importation of some crops from neighbouring countries comes after studying the needs of the local market […]
Iraq has signed an agreement to receive the first of two 250-million-dollar loans from the World Bank to help the country plug its budget deficit, the finance ministry said Thursday.
Iraq’s finance minister, Bayan Jabor has said that the country has raised $2.1bn from local banks to fund electricity projects, Reuters has reported.
Meanwhile, observers have warned that rising tensions over disputed territory in northern Iraq could trigger further displacement, the IDMC report said.
There are more than one million unemployed in Iraq.
Shahristani faced challenges to his authority by Kurdish leaders who continue to strike oil deals in defiance of his ministry.
“In this scenario, the role of Iraqi supplies may be more of a brake on rising prices than a catalyst to a lower price path,” the report explained. “In any case, the Iraqi auction clearly opens the door for a careful review of the conventional wisdom on the outlook for oil prices over the next […]