Iraq joins the “Nabucco” gas pipeline project

Iraq is very interested in participating in the “Nabucco” gas pipeline project Iraqi Foreign Minister Hoshyar Zebari said that “Iraq is able to propose its resources for this strategic project, which is of great importance for the country”. He said that Iraq holds several meetings to participate in this project. Thus, the country has a Memorandum of Understanding on energy cooperation with the EU. Minister also stressed that the differences between the... Read More

Oil could climb to record in 2012

Oil could climb to record in 2012 Demand in emerging markets increases Crude oil may rise for a fourth year to a record average price in 2012 as demand in emerging markets increases and the United States avoids a recession. West Texas Intermediate oil on the New York Mercantile Exchange will reach an average of $100 a barrel in 2012, based on the median of 27 analyst estimates compiled by Bloomberg, topping the all-time high of $99.75 set in 2008. The US benchmark is on course... Read More