Iraq ...... a New Aviation and Hospitality Destination
As markets continue to saturate in the region, Iraq emerges as a new destination for investors in the hospitality and aviation sectors.
Iraq Sees 6 Mln Bpd OPEC Quota As Too Low
An OPEC quota of 6 million barrels per day (bpd) will be too low for Iraq and it expects its quota to be no less than that of OPEC's most influential member Saudi Arabia, Iraq's oil minister said on Thursday.
Former Iraq Oil Chief Blasts Baghdad’s New Crude Deals
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.
Oil Ministry Wants to Stay Away from Political Rivalry in Iraq
“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.
Iraq Gov’t Bank Managers Arrested, $360m Missing
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.
Turkish Companies Participate in the Food Products Exhibition in Basrah
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 Shanghai Electric in $1bn Power Deal
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.
Iraq to Wind Up Airline in Kuwait Dispute
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 Launches Flights from Munich to Iraq
Lufthansa is introducing a new route between Munich and Baghdad on 30 September 2010 served four times weekly with a Boeing 737.
Plan Underway to Build 9 New Quays in Basra’s Umm Qasr
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.
Italian Group to Establish Residential Compound
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 Considers Third Oil Auction
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.