Oil-for-Food Funds transfer by year end.
The Iraqi Government has a “realistic” plan to take full ownership by the end of this year of a fund administering proceeds from export sales of petroleum under the now defunct Oil-for-Food Programme, a top United Nations budget official told the Security Council today. “Once all the outstanding activities under the Oil-For-Food Programme are concluded, […]
BP Partners Net Contracts Worth $500m
BP has announced the first major contracts involving its partners on the rehabilitation of the Rumaila field in Southern Iraq. Three contractor groups were selected for drilling wells, worth a total of around $500 million, and will provide seven additional drilling rigs from the second half of 2010. The contracts will be awarded to: - […]
French Total Company on Graft charge.
French oil giant Total said Tuesday it has been charged with corruption and influence-peddling relating to the United Nations' Iraqi oil-for-food programme of the 1990s. A French judge decided on February 27 to charge the company and several other defendants despite a prosecutor's request that the investigation be dropped. Total lawyer Jean Veil told AFP […]
S.Korea Destroyer Reaches Tanker Seized by Pirates
A South Korean navy destroyer has caught up with a supertanker hijacked by pirates that was cruising towards the Somali coast with a cargo of crude oil worth as much as $170 million, an official said on Tuesday. The South Korean-operated, Singapore-owned Samho Dream, which can carry more than 2 million barrels of crude, was […]
Total Charged with Graft in Iraqi Oil-for-food Programme
French oil giant Total said Tuesday it has been charged with corruption and influence-peddling relating to the United Nations' Iraqi oil-for-food programme of the 1990s.
Oil-for-food Probe into Total Revived
French judicial investigators have revived their eight-year inquiry into corruption linked to the United Nations oil-for-food programme in Iraq by placing Total under formal investigation for bribery in the affair.
BP Partners Net Iraq Oilfield Contracts Worth $500m
Three contractor groups were selected for drilling wells, worth a total of around $500 million and 2 two-year contracts, worth a total of around $100 million, have been awarded for the supply and installation of electrical submersible pumps and associated services.
Iraq to Obtain Rest of Oil-for-Food Funds by End of the Year, UN Official Says
As of the end of 2008, the fund had received nearly $180 billion - and now the Iraqi Government has a “realistic” plan to take full ownership by the end of this year of the fund a top United Nations budget official told the Security Council today.
Government Authorises Finance Minister to Sign Agreement with UAE
It said that the authorization will facilitate investments in Iraq from the UAE.
Christian Radio Station Goes On Air In Iraqi City
People in the southern Iraqi city of Basra are now able to listen to the province's first Christian radio station.
Iraqi Payments into UN Compensation Fund Should Continue - UN
The UN on Tuesday expressed satisfaction that the Iraqi Government is willing to continue to pay five percent of its oil revenues into the Compensation Fund whether under the present mechanism or a successor mechanism to the Development for Iraq (DFI) whose mandate expires in December of this year.
Iraq Lobbies U.N. for Cut in Gulf War Reparations
Iraq has said it owes $25.5 billion in reparations, with $24 billion due to Kuwait alone. Iraq is seeking to reduce the amount of annual oil revenue it sets aside for war reparations, primarily to Kuwait, by 80 percent.