Iraqi Economists Network

شبكة الاقتصاديين العراقيين

Latest Economy News

UAE consortium signs $250m financing deal for Iraq gas plant expansion

The seven-year financing period will support the increase in gas production capacity by 50 percent DUBAI: A UAE consortium has secured $250 million to boost the expansion of a gas plant in the Kurdistan Region of Iraq, as demand for clean natural gas grows. Pearl Petroleum, comprising Dana Gas and Crescent Petroleum, has signed a financing agreement with the US International Development Finance Corporation (DFC) for the Khor Mor plant, it said in a statement.
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Iraq oil field drilling contract awarded

Contract has been won by a US-Chinese partnership China's Zhongman Petroleum and Natural Gas Group and US-based Schlumberger have been awarded an oilfield drilling contract in Iraq. Zhongman said in a stock exchange statement that its wholly owned subsidiary Zhongman Petroleum Engineering Technology Service (Hong Kong) and Schlumberger Middle East have signed drilling project contract worth $24.5m for the Zubair oilfield in Iraq.
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Saudi firm seeks Iraq gas deal advisers – Delta Oil is looking to develop the Akkas gas field

Saudi Arabia’s Delta Oil Company is seeking deal advisers to assist with its effort to take over the development of Iraq’s Akkas gas field, according to industry sources. The Akkas field, which has reserves of 5.6 trillion cubic feet and was discovered in 1992, is operated by Korea Gas Company (Kogas). It is located in the western Anbar province, near the Syrian border, and is Iraq's largest known gas field. In 2011, Kogas signed a contract with the Iraqi government to develop the field and planned to produce 400 million standard cubic feet a day (cf/d), but production plans fell through because of the war in the region. The South Korean firm’s $5.8bn project to develop the field was put on hold after Islamic State seized large territories in Anbar in May 2014.
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Iraq to host a conference to recover stolen funds

Shafaq News/ The international conference to recover the stolen funds will be launched in the Iraqi capital, Baghdad, on the 15th and 16th of September. The conference is held under the auspices of Prime Minister Mustafa Al-Kadhimi. The Arab League President Ahmed Abul Gheit, Arab justice ministers, heads of judicial councils and regulatory bodies, as well as representatives of Arab associations and organizations, and legal, academic, and media Figures will attend the Conference to bolster Arab efforts to fight corruption and recover Iraq’s stolen money.
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James Baker’s Double Life – Bush’s special envoy has a private interest in Iraqi debt, documents reveal. By Naomi Klein *

When President Bush appointed former Secretary of State James Baker III as his envoy on Iraq’s debt on December 5, 2003, he called Baker’s job “a noble mission.” At the time, there was widespread concern about whether Baker’s extensive business dealings in the Middle East would compromise that mission, which is to meet with heads of state and persuade them to forgive the debts

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World Bank. Iraq: New Partnership to Improve Public Sector Governance, Increase Private Sector Participation, and Rebuild Human Capital

Washington DC, August 05, 2021—The World Bank Group has renewed its commitment to the continued support of Iraq, approving a new Country Partnership Framework (CPF) to form the basis of its 2022–2026 partnership with the country. The framework lays out the main development goals the World Bank Group aims to support in Iraq and proposes a series of strategic interventions to hel

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Iraq, the United States, and the “New” Middle East. By Anthony H. Cordesman

The U.S. “long war” in Afghanistan may be ending, although it is far from clear what will happen when U.S. forces fully withdraw, and there is no way to predict what kind of new government will emerge and what level of U.S. aid and assistance – if any – will continue. The story in Iraq, however, is very different. The “long war” in Iraq against ISIS and extremist movements has

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The Iraqi National Economy

Iraq: Standing at a Crossroad with Limited Fixes
Baghdad, May 27, 2021 – Oil price volatility and COVID-19 have increased Iraq’s
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Iraqi diaspora mobilization and the future development of
Iraqi diaspora mobilization and the future development of Iraq – authored by
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Is there a population growth problem in Iraq?
This paper aims to show that Iraq’s high population growth is posing
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Oil & Gas Policy

OPEC launches 2020 edition of the World Oil
The 2020 OPEC World Oil Outlook (WOO) was launched today in Vienna,
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BP says the era of oil-demand growth is
BP Plc said the relentless growth of oil demand is over, becoming
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Tariq Shafiq* Oil and Politics in My Life,
A typical Iraqi individual From the outset, let me say that I
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Historical Oil Shocks. By James D. Hamilton
ABSTRACT This paper surveys the history of the oil industry with a
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