Lawmaker Urges China to Write off Iraq’s Debts
An Iraqi lawmaker on Monday called on China to cancel the debts owed by Iraq to it and to contribute to investment projects in the country. “China has been delaying the cancellation of Iraqi debts until the departure of the United States from the country…,” MP Sami al-Atroushi from the Kurdistan Islamic Union told Aswat […]
Iraq Gunning To Blow Away Saudi Arabia's Oil Leadership Within Seven Years
Iraq's oil minister Hussain al-Shahristani just made it clear at a press conference that Iraq is gunning to knock Saudi Arabia out of the top slot for oil production. Markets won't to wait too long for this to happen either, and OPEC better not try to stop them: Hellenic Shipping News: “We can’t find a […]
UPDATE: OPEC El-Badri: No Need For Iraq Quota For Next 5 Years
Iraq may not need a quota with the Organization of Petroleum Exporting Countries for five years, OPEC's secretary general said Monday. "When they reach the point to be accommodated, maybe that will not be before five years from now," Abdalla Salem el-Badri said at an industry event. Iraq aims to lift its oil-production capacity to […]
Russia's Lukoil to Invest 30 Bln Dollars in Iraqi Oil Field
Russian state energy monopoly Lukoil will invest 30 billion U.S. dollars with its foreign partners in the development of the West Qurna-2 oil field in Iraq, said the company's CEO Monday. First phase of investment to the oil field, whose annual output is estimated at 95 million metric tons, will reach 4.5 billion dollars, said […]
Iraq Says It Can Be Top Global Oil Producer
Iraqi Oil Minister Hussain al-Shahristani yesterday said he expected Iraq to become the world’s top oil producer in six to seven years, and that OPEC should take into account Iraq’s need to rebuild its economy. Emerging from the shadow of war and keen to generate petrodollars to rebuild, Baghdad looks set to lift capacity to […]
Iraq Output Boom 'could See Oil Fall to $50
The revival in Iraq's oil production could keep oil prices low for several years: that is the message from a Royal Bank of Scotland note on the global oil market. As the last of Iraq's oil contracts have been awarded, RBS predicts that Brent crude could fall back from its current level around $73 to […]
'Iraq OPEC Quota Not Needed for Few Years'
It will be four to five years before there is a need to recommand Iraqi oil output within OPEC's oil production policy, OPEC Secretary-General Abdullah al-Badri said today. "When they reach the point that they have to be accommodated, maybe it will not be for four to five years from now," Reuters quoted Badri as […]
Iraq Exports Take a Dip
Iraq's oil exports slipped slightly last month to 1.926 million barrels per day from 1.977 million bpd the month before, an official at the State Oil Marketing Organization (SOMO) said today. Exports up to 30 January had averaged 1.98 million bpd. The SOMO official, who asked not to be identified, did not give a reason […]
$6m Educational Compound in Arbil
An educational compound will be set up in Arbil City at a total cost of nearly $6 million U.S. dollars, according to an official statement. “A delegation from the South Korean government has proposed the establishment of an educational compound at a total cost of $6 million U.S. dollars…,” according to a statement published on […]
ID1.2b to Stretch Power to 10 Villages North of Arbil
The sum of 1.2 billion Iraqi dinars was appropriated to extend electricity services to 10 villages in the district of Rawndoz, north of Arbil, according to the Mayor Sirwan Sereni on Sunday. “The sum is allocated from the Provincial Development Budget (PDB) for Arbil to set a project that involves the installation of 1020 power […]
$11.640m Service Projects in Arbil
Several service projects will be launched in the town of Badawa, eastern Arbil, including road surfacing and sewage and drinking water networks at a cost of more than $11 million, Arbil Governor Nawzad Hadi said on Saturday. “A local contractor embarked on a project to pave roads about eight kilometers long, an extension of a […]
Education Minister in Kurdistan, Iranian Consul Tackle Academic Relations
The minister of education in Iraq’s Kurdistan has discussed with the Iranian consul in the region means of boosting bilateral relations and exchanging academic expertise. The Iranian official has expressed his country’s readiness to receive university professors and students from the region and to activate cooperation agreements between the two sides. ( Aswat Al Iraq […]