Iran Discovers 30bn Barrels Oil Field
Iran has discovered 30 billion barrels of oil in place at a southwestern oil field that borders Iraq, the Jomhuri-ye Eslami newspaper reported yesterday. “An Iranian company along with a Chinese company are preparing the ground for exploration of oil in the Arvand-Kenar field that has 30 billion barrels of oil in place,” the daily […]
Iraqi Kurdistan Braces for Oil Exports
The president of Iraq's semi-autonomous Kurdish region says that it could resume oil exports as soon as a new federal government is formed in Iraq. Massoud Barzani says his Kurdish Democratic Party is in talks with Baghdad to form a new government that "doesn't exclude any party." He says that oil-rich Kurdistan has resolved most […]
Iranian MP Warns About Slow Pace of Development of Joint Oil Fields
“If we compare the rate of development of Iran’s joint oil fields with other Persian Gulf regional states, we see that from 1977 onwards, very little progress has been made in Iran’s part of the joint oil fields,” Katouzian told the Mehr News Agency on Friday.
18 German and Dutch Companies Take Part in Oil Conf in Arbil
A total of Eighteen German and Dutch oil companies will participate in an oil conference in Arbil on Tuesday - “The Netherlands government organizes this conference along with Shell, 14 Dutch oil companies and three German companies,”
Vast Drills Ahead at Iraqi Well
Vast Exploration provided the following progress update on the Qara Dagh - 1 Exploration Well, Qara Dagh Block, in the Kurdistan Region of Iraq.
Rafidain Bank Decides Re-dealing with Werkaa Bank
Rafidain Bank statement mentioned that the official memo signed by Al-Yassery said: Basing on the work necessities and getting the approved agreements, it is decided to start working with the bank; all Iraqi official and private banks have the right to deal with Werkaa too.
Iraq Seeking More Loans and Grants to ‘buttress’ the Budget
Iraq relies almost solely on oil revenues for its hard currency earnings, but latest gyrations in oil prices are said to have added to budget strains. “We are looking forward to obtaining more loans … mainly from donor countries,” Naib said.
Al-Mansur State Company Produces New Solar Power Panels with Different Capacities
Al-Mansur state company, a company of industry and materials ministry, finished installing and operating factory of collecting Italian originated solar power panels.
Electricity Projects in Basra to be awarded to Foreign Firms Only
“Specialized companies will only be allowed to execute such projects,” a source from the council told Aswat al-Iraq news agency on Monday.
Diversifying Iraq’s economy a mission impossible
Iraqi GDP growth remains at the mercy of the oil markets, with the economy growing 10.3% in 2008, slowing to 4.3% last year in the wake of the crash, and now expected to rebound to 7% this year as prices have recovered (according to the central bank’s latest forecast). This state of affairs has led […]
500 Attend Iraqi Kurdistan Trade Conference in London
The Prime Minister of Iraqi Kurdistan, Barham Salih, told more than 500 delegates at a major conference in London that Kurdistan welcomes foreign business, and invited international companies to participate in Kurdistan’s economic progress. Speaking at the Kurdistan Region Trade and Investment conference on Tuesday, the Prime Minister said, “Kurdistan welcomes foreign businesses with open […]
9 New Investment Projects in Najaf
The Najaf Investment Commission has approved nine new investment projects at a total cost of $38 million (more than 45 billion dinars), raising the number of investment projects in the province to 65, head of the commission said on Wednesday. “The NIC gave nine new investment licenses in the health, entertainment, commercial and educational fields […]