PetroChina will be targeting Iraq and Iran and is looking to focus on five projects — the Ahdab, Rumaila and Halfaya oilfields in Iraq, and the North Azadegan and Masjed-i-Suleiman fields in Iran.
PetroChina Sets Sights on the Mideast
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Protesting against election results is unconstitutional, says Iraqi politician
Democratic elections normally lead to stability and a smooth transfer of power. But not in Iraq. The results of the latest elections may lead to violence and instability in a country torn by wars and civil strife. The President Jalal Talabani and Prime Minister Noor al-Maliki both dispute the results and have called for a […]
Oil cartel fears losing control over supply as Iraqi output hits 20-year high
OPEC fears that its grip on the global supply of oil is being threatened by the rising output of Iraq's oilfields and the prospect of billions of dollars of multinational investment in the world's leading untapped oil resource. Iraqi oil exports in February were at their highest in 20 years, at an average of 2.08 […]
Investment permit given to build shopping complex in Basra
The investment commission in Basra has given an investment permit to establish a shopping complex in the north of the city at a total cost of $3.27 million U.S. dollars.
Turkey aims to renew oil pipeline accord with Iraq
Turkey is negotiating the renewal of an agreement on operating a pipeline that carries Iraqi crude oil to world markets and hopes to extend the deal by up to 20 years, Energy Minister Taner Yildiz said on Tuesday.
Iranian bank opens branch in Basra
Iranian Bank has opened a branch in the southern province of Basra to facilitate money transfer between the two countries, the Iranian consul in the city said on Wednesday.
Russian Lukoil to start drilling Iraqi oil fields before the end of this year
LUKoil, plans to drill the first exploration well at the West Qurna-2 oil field in Iraq, LUKoil CEO Vagit Alekperov said on Wednesday. "We'll start drilling the first exploration well at the end of the year"
Iraq Signs Deal for 250-million-dollar World Bank Loan
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 Raises $2.1bn to Fund Electricity Projects
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.
Controversy over Diyala Province Housing Project
Meanwhile, observers have warned that rising tensions over disputed territory in northern Iraq could trigger further displacement, the IDMC report said.
Over 1 Million Jobless in Iraq
There are more than one million unemployed in Iraq.
Iraqi Oil Minister Questions Tenure
Shahristani faced challenges to his authority by Kurdish leaders who continue to strike oil deals in defiance of his ministry.