Future of Iraq's Oil Deals Uncertain
In Iraq’s fevered political climate, no deal makes everyone happy, and the oil contracts could easily become a casualty as Iyad Allawi, the declared winner in last month’s election, begins the messy process of stitching together a governing coalition.
Iraq to Continue to Pay 5% of Oil Proceeds to Compensation Fund
UN Secretary-General Ban Ki-moon on Friday said Iraq must continue to pay five percent of its oil proceeds into the Compensation Fund even if arrangements for the successor Development Fund for Iraq (DFI) are in place and Iraq stated its commitment to settle all debts inherited from the Saddam regime.
More Business at Iraqi Ports
The Iraqi ports of Umm Qasr and Abu Falous continue to receive a steady flow of merchant ships carrying varied cargos. Ships from Panama, the United States, Liberia, Iran and the United Arab Emirates have recently arrived containing various cargoes including pipes, iron, fuel and cement. Mr. Iain Blake, Senior Broker at Anglo Arab Insurance […]
Italian firms to build Iraq's biggest port: minister
An Italian group will begin construction in a month's time on what will become Iraq's largest shipping port, the Iraqi transport minister announced Monday.
Iraq to increase oil export
"The Oil ministry plans to increase the oil production in April to about 59 million barrels in order to increase the revenues to 267 million dollars." The representative of the oil ministry Abdul Karim Al Luaibi told The Independent National News Agency.
Opec may face Iraq oil challenge sooner than expected
The storm brewing on the Organization of Petroleum Exporting Countries (Opec's) horizon over future Iraqi oil output could engulf the producer group sooner than it would like.
Transferring Iraq to a Private-Sector State as IMF applies conditions to grant
Iraq's Finance Ministry Undersecretary, Fazil Nabi, has announced on Sunday that the International Monetary Fund (IMF) is going to push Iraq forward in order to shift into a "private sector" system, in order to grant it a loan to cover the deficit into its state budget.
$250 million to Support Iraq’s Fiscal Sustainability against External Shocks
The World Bank Group’s Board of Executive Directors today approved a US$250 million Development Policy Loan to the Government of Iraq.
Breakdown of Iraq’s 2010 Budget
The 2010 budget is for $71.29 billion and the second largest amount since Iraq regained its sovereignty in 2005. A breakdown of spending shows that operational spending, which goes towards salaries, pensions, and the food ration system is - again - almost ¾ of the budget, and that electricity appears to be the priority of […]
48 exhibitions to be held in Iraq this year
More than 48 exhibitions will be held in Iraq, including 25 exhibitions in Baghdad of various industrial and commercial sectors, this year.
Iraqi government calls on Kuwait to resolve the debts
The Iraqi government has called on Kuwait to end the debts discussion ongoing since the invasion of the former regime in August 1990.
Canadian company seeks investment in Basra
A delegation from Canada held a meeting on Wednesday with officials of the Basra Investment Commission (BIC) to discuss the possibility of establishing projects in the province, a media official said.