Latest Economy News

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 pro

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, a

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

Japan will extend up to ¥32.7 billion ($300 million) in low-interest loans to Iraq to assist the country’s plan to upgrade one of its oil refineries, Foreign Minister Toshimitsu Motegi told his Iraqi counterpart, Fuad Hussein, on Saturday. Motegi made the pledge during an unannounced trip to Baghdad, the first visit to Iraq by a Japanese foreign minister since Taro Aso in Au

Countries to discuss co-operation across politics, economy, energy and investment Iraqi Prime Minister Mustafa Al Kadhimi headed to Kuwait on Sunday, seeking to repair relations damaged by Saddam Hussein’s 1990 invasion of the oil-rich emirate. Mr Al Kadhimi's visit is "part of the government efforts to boost co-operation and bilateral relations with different countries,