Chairman and Managing Director of Kuwait Oil Company (KOC) Sami Al-Rushaid expected Tuesday that Kuwait and Iraq would reach an agreement on the exploitation of the oil wells on their border areas soon. Speaking to reporters after the prize giving ceremony of the Chairman's Award for Health, Safety and Environment, Al-Rushaid said the two countries […]
Iraq's oil minister said Tuesday that world crude prices are "reasonable" and are high enough to encourage oil investment without hurting the global economic recovery. Hussain al-Shahristani's remarks in an interview with The Associated Press added to perceptions that OPEC is not eyeing any immediate changes in output despite the past weeks' large price swings. […]
The volume of Turkish investments in Basra is so big and we will increase the number of Turkish companies working in the city to 1000 next year, the Turkish consul said on Monday. “Our main goal is to increase the number of Turkish companies working in Basra,” Ali Reda said during the inauguration of a […]
WesternZagros Resources Ltd. has successfully and safely secured the Kurdamir-1 well, following the loss of well control reported on May 15, 2010. The risk of the damaged drill pipe failing and releasing hydrocarbons or hydrogen sulphide (H2S) at the surface has been eliminated. Specialists from Boots & Coots International Well Control Inc. together with personnel […]
Total, the French oil giant, expects that Halfaya oilfield will hit 535,000 barrels per day (bpd) by 2016, from 3,000 bpd now. ‘The plateau is supposed to be reached after 6 years,' Jean-Jacques Mosconi, head of strategy, told reporters. Halfaya is split three ways between the China National Petroleum Company (CNPC), Total and Malaysian Petronas. […]
Finance Minister Baqer al-Zubaidi urged the Iraqi ambassador on Monday to tackle the debts issue with Italy and to encourage companies there to invest in Iraq, according to a statement of the finance ministry. “Al-Zubaidi urged the new Iraqi Ambassador, Saad Qandi, to discuss the $850 million debts owed by Iraq,” said the statement received […]
An investor has submitted an agricultural investment project costing $24 million to the north of Amara city, the head of the Missan Investment Commission (MIC) said on Monday. “The investor presented the project to the MIC, which includes a milk factory and livestock raising as well as the establishment of sheds on 70,000 donums,” Dr. […]
President of Iraq’s Kurdistan region, Massoud Barzani, said on Monday that Kurdistan is ready to receive Egyptian investors and businessmen. He has accepted an invitation to visit Egypt, according to a presidential statement. “President Barzani received the Egyptian Ambassador to Iraq, Sharief Kamal al-Din Shahin at the Salah el-Din resort in Arbil,” said the statement […]
Iraq Ministry of Agriculture intends to finish 6 strategic projects regarding the provision of seeds and cereals during the current year. A source in the Ministry said that Ma Bayn Annahrain Company for cereals is contributing in supporting the Iraqi Economy through production, industrial and marketing activities for different kinds of crops. The same source added […]
Ali al-Dabbagh, the official spokesperson of the Iraqi government has said that the transportation minister has been authorised by the cabinet to sign an aviation transportation agreement with Qatar, Aswat al-Iraq has reported. The agreement aims to overcome difficulties and delays in aviation transportation between the two countries, he said. ( AME Info FZ LLC […]
Sweden’s Trade Minister Dr Ewa Björling led a large trade delegation in an exploration of the commercial potential of the Kurdistan Region today. Minister Björling said, “It is fantastic to be back here and to see all the improvements, and to discover how many people still speak Swedish. For the trade delegation, this is a […]
Fire fighting officials are predicting that an Iranian oil rig fire may take as long as six months to put out.Three workers were killed and at least 10 injured. The fire broke out at well number 24 at the Naft Shahr oil field on Saturday. It is in Kermanshah province bordering Iraq.
