Revenue through oil export in Iraq is likely to increase for the month of April as Basrah Light crude to Asia sells at the highest rate in more than a year against Saudi prices and shipments expand. Iraq is set to export the most Basrah Light in at least two years next month, at the same time as the grade’s discount to Saudi crude is the narrowest in 17 months. Alexander Poegl,
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Iraq has approved major contract items for Eni's giant oilfield project in its south, just hours after the Italian company threatened to pull out if red tape was not cut and Angola's Sonangol quit projects in the north due to security concerns. Rising violence has not hit operations at the southern fields driving Iraq's oil expansion, but Western companies at work there say det
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The Iraqi government is trying to encourage investment inside the country. However, Iraqi businesspeople are seeking a safe haven - away from violence, heavy taxation and too much red tape – and they are increasingly seeing the eastern European country of Georgia as a good investment. At a recent meeting of Baghdad’s most successful businessmen, one of them - Madyan al-Kadhimi
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The deputy Prime Minister for Energy Affairs, Hussain al-Shahristani, stated that the International Monetary Fund estimates indicate that Iraq will keep the rate of increase in economic growth over the next five years, while considered that the year 2014 will be a year of investment in the country. The major economic growth will take place for of course the oil reserves of the
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BAGHDAD - An engineering, procurement and construction (EPC) contract to build the $4 billion Karbala refinery will be signed by the beginning of 2014, part of a revived effort by Baghdad to boost its neglected refining sector. "It was supposed to be awarded this year, but there were some issues related to the [budget] allocations for it, and probably it will be awarded at the
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