Al-Luaiby’s remarks could increase pressure on Baghdad to revise contracts awarded to foreign companies. Ayad Allawi’s Iraqiya bloc, which won the most seats in the recent parliamentary election, said it would like to review oil contracts signed with the majors.
“I ask them (political factions) not to throw the oil sector into the middle of their political struggles. They should leave the sector to the specialists to develop and improve oil output figures,” Jihad said.
Three managers of state-owned Iraqi banks have been arrested on suspicion of using bogus transfers to siphon off billions of dollars of government money to invest in private business.
The first international fair for food products and household items continue in Basrah for the third day, with over 40 Turkish companies, as well as a number of international and local companies.
China's top power equipment maker Shanghai Electric is moving ahead with a $1 billion power-generating plant to boost Iraq's electricity capacity by 1,320 megawatts, officials said on Saturday.
The $1.2bn (£837m, €979m) reparations relate to aircraft and parts taken by Iraq during its occupation of Kuwait. The decision to wind up Iraqi Airways is an attempt to avoid the claims filed by Kuwait Airways.
Lufthansa is introducing a new route between Munich and Baghdad on 30 September 2010 served four times weekly with a Boeing 737.
A plan is underway to build nine new quays in Basra’s Umm Qasr port in light of a surge in the number of ships arriving at Iraqi ports, the Iraq Ports Company director revealed on Sunday.
Head of the Diwaniya Investment Commission said on Friday that a Memorandum of Understanding has been signed with an Italian group to establish a residential compound in the province.
Iraq is considering holding a third oil auction for some of its supergiant fields, such as Kirkuk and East Baghdad, if there is enough interest from foreign players, Oil Minister Hussain Shahristani said today.
“An agreement has been reached with official Dutch authorities to send a delegation of 30 businessmen and traders to Basra to review the investment opportunities and economic capabilities in the province,” said Shaltagh Abboud al-Mayah
The Municipal Secretary of The Secretariat of Baghdad, Naeim Alkaabi, has met with a Turkish Company the discuss the possibilities to develop the infrastructure of the Capital city of Baghdad.