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Designs Completed for Airport in Maysan

A group of Swiss and Russian firms have completed the designs of a civil airport in Amara city, Maysan province, according to a report in Aswat al-Iraq. “The airport will be like others constructed by the group in Kazakhstan, Brazil, and Libya,” a source from the group told Aswat al-Iraq news agency on Thursday. He […]

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New Problem on Ceyhan Pipeline – Oil Flow Reduced

Iraq’s crude oil exports through Turkey “suddenly” dropped by about 20 percent due to a technical fault on the Iraqi side of the border, according to an official for the state-run North Oil Co, as reported by Bloomberg. “The flow suddenly dropped from the usual level of 600,000 barrels a day to between 400,000 and […]

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Oil Pipeline Re-Opened from Nasiriya to Kut

The oil pipeline from the south oil reservoirs in Nasiriya to the reservoir at Kut has been re-opened, according to a report from the National Iraqi News Agency. Head of Wassit Provincial Council, Mahmoud Abdul-Ridha Talal, told (NINA): “The re-operation of the oil pipeline carrying oil between the two provinces will solve the serious and […]

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Gulf Keystone Directors Sell Shares

Gulf Keystone Petroleum Limited (AIM: GKP) has announced that it received notification that on 23 September 2010 Lord Peter Truscott, a non-executive director of the Company, and his wife sold 33,000 common shares at an average price of £1.44 per share. Following this sale Lord and Lady Truscott are interested in 500,333 common shares representing […]

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Air Berlin to Start Regular Services to Erbil, Sulaymaniyah

From 6th November 2010 airberlin will be operating one non-stop flight each week from Düsseldorf to Erbil in Northern Iraq. In addition the airline will also be offering fortnightly flights from Düsseldorf to Sulaymaniyah. Many of the seats have already been booked by a tour operator. The flights to Iraq are now available for booking […]

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Business Deals Despite Political Delays

It was reassuring to read the comments this week from BP’s Iraq’s President, Michael Townshend, in which he confirmed that the delays in forming a government are not causing problems for the development of the giant Rumaila oilfield. This is good, and despite the refusal of Iraq’s politicians to resolve the political impasse, we have […]

$10 Billion to be Spent on Oilfield Water Injection

An Iraqi government spokesman said on Tuesday that the water injection project to help boost production from Iraq’s southern oilfields is expected to exceed $10 billion. Reuters reports that Iraq’s cabinet approved a plan on Tuesday to repay the cost of the scheme to the international oil companies that would need to initially fund the […]

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Political Stalemate Not Delaying Rumaila – BP Boss

BP‘s boss in Iraq says the political impasse that has delayed the formation of Iraq’s new government for more than six monthsit has had no effect on its work on Iraq’s biggest oilfield. BP is moving ahead with developing the supergiant Rumaila oilfield and could award new contracts for work in the field later in […]

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Momentum Logistics Opens New Office in Erbil

Momentum Logistics, the Sharjah-based third-party logistics (3PL) service provider and subsidiary of international port management company, Gulftainer, has officially opened its new office in Erbil. The new office will allow Momentum to react more efficiently to the daily needs of its clients. Erbil is the management centre of the Northern Iraq’s oil industry, and Momentum […]

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Iraq Govt Allows Kuwaitis to Recover Real Estate Seized by Saddam

Iraq has agreed to allow Kuwaitis who owned real estate in Iraq to recover property seized under Saddam Hussein’s regime after the invasion of Kuwait 20 years ago, according to a report from Reuters. Kuwaitis can recover their Iraqi property provided there is no legal decision prohibiting it, Iraq’s government spokesman, Ali al-Dabbagh (pictured), said […]

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Companies Selected for US Trade Mission

Francisco Sánchez, Under Secretary of Commerce for International Trade, will lead a historic trade mission to Baghdad, Iraq, in October. Sánchez will accompany representatives from 14 U.S. companies on the department’s first trade mission to Iraq since the end of the U.S. combat mission in Iraq. “The U.S.-Iraq bilateral relationship is entering a new phase […]

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Warka Bank Hits Back at Rumours

Warka Bank issued a statement on Wednesday refuting the rumours (click here for more details) that it was in financial difficulty: Dear Warka Clients, With regard to the rumors that have been circulating against our bank by ill competitors please note that our bank is well supervised and monitored by the highest financial authority in […]

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