The latest news on Iraq – Kuwait business – investment, Disputes and more – brought to you by Iraq Business News
Iraq has awarded three of its established gas fields to foreign consortia in the third stage of an energy sell-off, as the country races to supply gas to local power plants and to export markets. The three fields, in the south, centre and far west of Iraq were sold at or slightly below the price […]
Iraq has agreed to allow Kuwaitis who owned real estate in Iraq to recover property seized under Saddam Hussein's regime after the invasion of Kuwait 20 years ago, according to a report from Reuters. Kuwaitis can recover their Iraqi property provided there is no legal decision prohibiting it, Iraq’s government spokesman, Ali al-Dabbagh (pictured), said […]
The Iraqi Oil Ministry is seeking to open more border crossings to make it easier for foreign firms to bring their oil equipment to Iraq. “Foreign firms working on boosting Iraq’s oil production submitted a request to the Kuwaiti authorities to open a border crossing so that they can bring their equipment into Iraq,” a […]
Kuwait-based Eastern National Oilfield Services (ENOS), a subsidiary of Kuwaiti Safat Energy Holding (KUW: SENERGY), has won a $7 million (8.2 billion Iraqi dinars) contract to provide oil well testing and digging services for an unnamed company in Iraq, according to a report from ADP News. Safat Energy reportedly released the information in a statement […]
Debate is raging in Iran regarding the issue of claiming reparations from Iraq in relation to the Iran-Iraq war in the 1980s. Earlier this month, a member of the Majlis (the Iranian parliament), Eivaz Heidarpour, who is also a member of Iran's National Security and Foreign Policy Committee, said that Iran could claim compensation from […]
Kuwait has signed an agreement to share oil from cross-border fields with Iraq and is waiting for its northern neighbour to reciprocate, the emirate’s oil minister has said, according to a report from The National. The deal could help to smooth the often thorny relationship between the two countries 20 years after Saddam Hussein’s armies […]
Iraq has intensified efforts to resolve its debt problems with neighboring Kuwait, in order to end the international restrictions imposed on the country following the invasion of Kuwait two decades ago, said Iraq’s deputy foreign minister. Iraq was placed under United Nations’ Chapter 7 status in 1991 after Saddam Hussein invaded Kuwait. Speaking to AKnews, […]
A former member of the Iraqi parliament has announced that Iraq lost oil wells in the border demarcation with Iran and Kuwait. Some other oil wells are located in the common Iraqi-Iranian borders in Faw and Khanaqin, but they are not divided between both parties. The Iraqi government has lost a great amount of its […]
Iraq and Kuwait are expected to reach an agreement soon setting guidelines for investing in oilfields which cross their desert border, The Kuwaiti Al Jarida daily reported on Monday, according to Reuters When Iraq invaded its Gulf Arab neighbour 20 years ago, Iraq accused Kuwait of stealing billions of dollars worth of oil from these […]
Iraq may open its border with Kuwait for the first time in 20 years to ease shipments of equipment for major oil projects, an oil ministry spokesman said. In a telephone interview with Bloomberg from Baghdad, Asim Jihad said: “The Ministry of Oil may open the border with Kuwait to facilitate the shipment of heavy […]
The United Nations released $650 million in Iraqi compensation to Kuwait on Thursday, the latest payment of a war reparation scheme that began in 1994. The payment brings the total sum of compensation paid to Kuwait to $30.1 billion dollars. A further $22.3 billion is due to Kuwait. Most of the latest round went to […]
Investors from Arab countries have led other foreign investors in the Kurdistan Region in the last two years with nearly $2.7 billion (3.2 trillion Iraqi dinars) of investment in various sectors of the Region’s economy, a senior official of the Kurdistan Investment Board (KIB) told AKnews. “Four Arab countries -- Kuwait, Lebanon, Egypt and Jordan […]
