Iraq: Don't Mess it Up

Iraq is making progress. It is now pumping out 3 million barrels of oil per day for the first time since 1979, it is about to host the Arab League Summit, and its plan to build 2 million new homes is moving ahead.

So why have shares in Iraq-focused oil shares taken a bashing this week?

Part of the reason is a report from HSBC highlighting the political risk in the country:

"After years of conflict, the Iraqi oil industry has opened for business ... the country has huge reserves ... [but] politics is likely to impair value."

In other words, prosperity is there for the taking if the politicians and public servants don't mess it up.

On a rather different subject, Iraq Business News is delighted to welcome a new member to our Expert Blogger panel: Bob Nottelmann has helping the Iraqi agricultural sector and will write for us on Iraqi agribusiness. You can read his first installment here.

Upper Quartile and AAIB are the ideal partners to guide your business through the complexities of Iraqi life. For more information please contact Gavin Jones or Adrian Shaw.

One Response to Iraq: Don't Mess it Up

  1. Uruki-the-Iraqi 9th March 2012 at 00:41 #

    “Prosperity is there for the taking if the politicians and public servants don’t mess it up”… Maybe this is true about the current Iraqi politicians (325 MPs and their political affiliations) and how they can mess things up (if they do not agree) for Iraq BUT the current issue and the real battle facing the region is bigger than that of IRAQ… Clearly and obviously it is between the WEST (lead by the USA, UK and the so called civilized world) and Iran (the perceived so called pariah Islamic state) similar to the 1000 years of wars between the ancient Romans and the Persians of old days… Iraq and the rest of the ARAB GULF states are ONCE again caught in this clash of civilization and it will ONLY devastate the region even worse…If anyone wants to mess things up for IRAQ, for the Middle East, and to the rest of the world, then it would be the state of ISRAEL launching surprise attack on IRAN this year or even next to cripple Iran’s nuclear facilities and Iran would definitely retaliating back… One more thing, the current Iraqi flag (pictured above) is so similar to the flags of Egypt, Syria, Yemen and old Iraq under Saddam’s Baath rule … It is also based on Arab nationalist movements of the early 20th century (created by Michel Aflaq and his pathetic gang) and derived from the old German Empire flag of the same colors… New flag for the new Iraq must be created to represent and distinguish Iraq from the rest of these Arab states… Iraq is not Egypt and it is not Syria nor is it Yemen!!!