Tag Archives : Iraqi oil

Modern Iraq is all about oil. It exists for and because of it. Its turmoil and troubles are due to it. Wars have been waged on the country’s soil because of the black gold mine that lies under the ground. Iraq has ‘one of the world’s great hydrocarbon preserves,’ with proven oil reserves of 115 billion barrels. It is the third largest oil [...]

The sorry state of its facilities, a decade of international embargo, successive wars, and the alarming state of its finances today forced Iraq to reopen its oil deposits to foreign capital and expertise. The decision of the government of Nouri al-Maliki to auction ‘service contracts’ for the operation of Iraq’s six largest oil fields and two [...]

Iraq has been showing signs of sure recovery from the devastations of war. After the US nearly flattened some parts of the country with the much criticized ‘US invasion to liberate Iraq,’ American investors now attempt to create a much needed economic crust, that of Iraq’s private sector. This is probably what is most needed in a time when national [...]