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,
Read More
An oil refinery construction agreement between Iraq's Mosul province and the Kurdish Regional Administration was signed on Monday, says Mosul governor.The agreement includes the sharing of oil extracted from the disputed areas between Mosul and the Kurdish Regional Administrationm (KRG) in support of the Mosul province, said Nujaifi and added, "This agreement will change Iraq'
Read More
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
Read More
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
Read More
ERBIL - The consortium managing the only producing natural gas field in Iraq's autonomous Kurdistan region is taking the Kurdistan Regional Government (KRG) to court, alleging overdue payments that are likely to total over $2 billion. The dispute threatens to send an uncharacteristically chilling signal to foreign companies that have generally lauded the KRG's Ministry of Natur
Read More