Iraqi Oil May Rival Saudi Arabia -- CNNNEW YORK (CNNMoney.com) -- Iraq's ravaged oil industry is on the verge of a major reconstruction and experts now believe that by the decade's end it could rival the world's top oil producers.
But major challenges lie ahead.
Iraq's success depends in large part on a mosaic of international investments.
The oil ministry has awarded contracts to at least a dozen firms from around the globe to develop its oil fields and boost production in the next seven years to over 11 million barrels a day.
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MIDDLE EAST
Work begins on first planned Palestinian city.
US-China differences set to scupper agreement on Iran sanctions.
Netanyahu: Turkey drift toward Iran is worrying.
Iraqi security forces lock down parts of Baghdad.
U.S. walking a tightrope with its Yemen policy.
Yemen forces kill 19 Shi'ite rebels, arrest 25.
Yemen 'starts talks over German and UK hostages'.
ASIA
Russia to lease nuclear submarine to India - report.
Pakistan terrorists target more civilians in 2009.
SKorea, US dismiss NKorea's peace talks proposal.
Clinton begins Asia-Pacific tour. On Asia-Pacific trip, Hillary Clinton downplays U.S.-China friction.
As China rises, fears grow on whether boom can endure.
AFRICA
What the heck is Cabinda?
Nigeria's president breaks silence to quash death rumours.
Extremist Hutu officials blamed in ’94 Rwanda assassination.
Mozambique opposition boycotts parliament ceremony.
EUROPE
For sale on Internet - Ukraine's election votes.
UK universities warn that they face 'meltdown'.
Russia and US to resume arms control talks.
European governments seek to mandate healthier diets.
Greece set for IMF visit to help economy.
AMERICAS
Major quake rocks Haiti; hospital collapses.
Venezuela plans blackouts in Caracas, oil town.
CA. assembly plants seed for legal pot in California.
Venezuelans throng stores after currency devaluation.
Honduras' top court to hear case against military.
Mexico hit by low temperatures.
Voters in Martinique, French Guiana reject efforts to reduce french control.
'Toronto 18' suspect wanted to profit from bombings: witness.
TERRORISM/THE LONG WAR
Lawyers who defend terrorists, the most hated people in America.
Detainees sent to Saudi Arabia suspended.
Fmr. FBI agent: Terror watchlist likely creates 'hundreds of thousands of false positives every day'.
Somalis fleeing to Yemen prompt new worries in fight against al-Qaeda.
Jordanians question alliance with U.S. after Humam al-Balawi’s CIA suicide bombing.
ECONOMY/FINANCE/BUSINESS
U.S. Chamber warns of 'double-dip' recession because of Dem policies.
U.S. economy: Trade gap grows as oil prices jump; exports climb.
Super Bowl's ads sacked by economy.
China ends U.S.’s reign as largest auto market.
China becomes biggest exporter, edging out Germany.
U.S. gasoline prices zip toward $3 mark.
Bankruptcy could be good for America.
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