Halfaya forecast 535,000 Bpd in 6 years
Total, the French oil giant, expects that Halfaya oilfield will hit 535,000 barrels per day (bpd) by 2016, from 3,000 bpd now. ‘The plateau is supposed to be reached after 6 years,' Jean-Jacques Mosconi, head of strategy, told reporters. Halfaya is split three ways between the China National Petroleum Company (CNPC), Total and Malaysian Petronas. […]
Finance Minister Urges Italians to Tackle Debt Issue
Finance Minister Baqer al-Zubaidi urged the Iraqi ambassador on Monday to tackle the debts issue with Italy and to encourage companies there to invest in Iraq, according to a statement of the finance ministry. “Al-Zubaidi urged the new Iraqi Ambassador, Saad Qandi, to discuss the $850 million debts owed by Iraq,” said the statement received […]
$24 Million Investment Project in Missan
An investor has submitted an agricultural investment project costing $24 million to the north of Amara city, the head of the Missan Investment Commission (MIC) said on Monday. “The investor presented the project to the MIC, which includes a milk factory and livestock raising as well as the establishment of sheds on 70,000 donums,” Dr. […]
Kurdistan Ready to Receive Egyptian Investments - Barzani
President of Iraq’s Kurdistan region, Massoud Barzani, said on Monday that Kurdistan is ready to receive Egyptian investors and businessmen. He has accepted an invitation to visit Egypt, according to a presidential statement. “President Barzani received the Egyptian Ambassador to Iraq, Sharief Kamal al-Din Shahin at the Salah el-Din resort in Arbil,” said the statement […]
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.