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 […]
Archive | 2010
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 […]
Tags: Oil & Gas
Iraq Goes On A Building Spree
The largest housing projects are planned for Baghdad. In January, the Baghdad government announced that it would begin work on almost 300,000 apartments across the city - a British architect company was hired to design the project.
China writes off 80% of debts
The Iraqi government signed an agreement with the Chinese government to write off 80% of Iraq’s debts.
Iraq needs to be a member of WTO
Iraq aims to expand the export of goods through the reduction of customs and opening world markets for goods and services ......... except oil.
Tags: WTO
Oil Ministry: licenses of first and second rounds will not be reviewed
The licenses of the first and second rounds of the Oil contracts will not be affected by the governmental changes and there is no third licensing round in the future.
Tags: Oil Deals, Sharristani
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 […]
Tags: Agriculture
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 […]
Al-Shahrestani Urges Ministries to Facilitate IOCs
Minister of oil Hussein al-Shahrestani on Monday called for all Iraqi ministries and institutions to facilitate the work of the international oil companies working in Iraq.
Tags: IOC, Sharristani