Turkey Says Pipeline Agreement Will Be Renewed

Turkey’s energy and natural resources minister said that the crude oil pipeline agreement would be renewed with Iraq. Speaking at the 9th International Oil and Gas Conference at Ankara’s Sheraton Hotel, Taner Yıldız said, “there are big and significant natural gas and oil reserves in east of Turkey. Turkey shapes its energy policies and diplomacy […]

Kirkuk-Ceyhan Pipeline Accord to be Extended

Turkish Minister of Energy and Natural Resources Taner Yildiz said Tuesday his country sought to renew the Kirkuk-Ceyhan oil pipeline accord with Iraq before it expires on March 30, 2010. Turkey and Iraq are likely to reach agreement on the extension of the accord for another 20 years soon, the minister said in an address […]

Iraq Targets 12 Million Barrels a Day, Defers OPEC Quota Limits

Iraq expects to produce 12 million barrels of oil a day within seven years and won’t even discuss OPEC quotas until 2012 as output accelerates after years of conflict, the country’s oil minister said. “We are not discussing any quota for Iraq before our production increases significantly,” Iraqi Oil Minister Hussain al-Shahristani told reporters today […]

Fate of Oil-rich City Crucial to Stability of Iraq

The future stability of Iraq may turn on the fate of the oil city of Kirkuk, who’s estimated 570,000 people are caught in a bitter dispute between the country’s Kurdish minority and the central government in Baghdad. Iraq’s Kurds, who comprise about 20 per cent of the national population, claim Kirkuk as their own. Some […]

China Now Largest Oil and Gas Investor in Iraq

China has become the biggest single investor in Iraq’s oil and gas sector, with nearly one fifth of the reserves that have been auctioned over the past year under its control, Meed has reported. China is spending a total of $577m in signing on fees to give it access to an estimated 24 billion barrels, […]

Study on Reducing Water Wastage

An official source from the Secretariat of the Council of Ministers, it has instructed the Ministry of Water Resources in coordination with the Ministry of Agriculture, to study the possibility of measuring the amount of water withdrawn from water sources to the fields of farmers. The source said that the committee charged with developing an […]

Mosul Students Protest Against Arrest of Professor

A number of students of the Mosul University’s Faculty of Engineering on Monday staged a demonstration against the arrest of a professor by army forces, according to one of the protest’s organizers. “The students demonstrated inside the campus against the arrest of Professor Omar Ahmad Youssef, without a warrant by army forces last night,” Ameer […]

Permit Given for 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. “The project will be carried out in al-Madeena district (100 km north of Basra) on an area of 3,309 square meters,” an official from the […]

Corruption Cases Focus on Americans

More than 50 corruption cases have been opened in the last six months by U.S. investigators looking into the dealings of Americans involved in the $150 million Iraq reconstruction project. Some of the cases concern suspects who allegedly mailed tens of thousands of dollars to themselves from Iraq or who stuffed money into duffel bags […]

Iraq Welcomes Chinese

Iraq is keen to see China play a bigger role in the reconstruction of the war-torn country, the country’s top envoy to Beijing has said. “After 2003, China has supported us very much and reduced Iraqi debts by 80 percent, which is greatly appreciated,” Iraqi Ambassador Mohammad Sabir Ismail told China Daily in an interview […]

No Time Fixed for Dinar Rebase

The Central Bank of Iraq is planning to rebase the Iraqi dinar but hasn’t decided yet on the timing of the move, the bank said in a statement Monday. “The Central Bank affirms its commitment to its strategic projects, particularly knocking three zeroes from the Iraqi dinar,” the statement said. “Despite the technical and logistical […]

2007 Final Account of Iraqi Government Released

The Board of Supreme Audit on Monday said it has released the final account of the Iraqi government for the year 2007 after all amendments had been made to it. “Amendment have been made to the remarks and notes with regards to budget revenues and an accumulated surplus of 52.6 trillion Iraqi dinars…,” according to […]