Download A year has passed since the landmark deadline of December 2006, which was ‘publicly’ imposed by the IMF, the Iraqi Study Group (ISG), the US administration and the International Oil companies (IOCs) on the Iraqi government to deliver the long awaited Iraqi oil law. But it still seems that we are no closer today to seeing the new law approved than we were back in Decem
Read More
Download the whole document as PDF file
Read More
Key Messages: • The Government expenditure for 2013 totals IQD 138.4 Trillion ($ 118.3 Billion), with an increase of 18% over 2012 and exceeding 70% of GDP. The budget has three main headings: Energy, Security / Defense and Social Services, accounting for 21%, 14%, and 13% respectively of total budget. • Investment Expenditure represents 40% (IQD 55.1 Trillion
Read More
Download PDF On June 11, 2011, the Los Angeles Times reported that at least $6.6 billion out of the $12 billion of Iraq's money from the United Nations' oil-for-food program was very likely stolen, stating, "For the first time, federal auditors are suggesting that some or all of the cash may have been stolen, not just mislaid in an accounting error. Stuart Bowen, special inspe
Read More
Download This report examines Iraq’s current hydrocarbon contracts. It posits that they leave IOCs with too much control over the country’s producing fields, and suggests alternatives. Since 2009, the Iraqi federal Oil Ministry has signed 11 so-called Technical Service Contracts (TSCs) and Development and Production Service Contracts (DPSCs) with some of the world’s largest int
Read More