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$8.7 Billion Missing – NGOs Blame Lack of Accountability

The NGO Coordination Committee in Iraq (NCCI) has issued the following statement regarding the $8.7 billion of Iraqi funds that cannot be accounted for: Last week, the US Special Inspector General for Iraq Reconstruction (SIGIR) issued an audit stating that the Pentagon cannot account for 96 percent of $9.1 billion that was set aside for […]

37th Baghdad International Fair

A large group of international companies have showed their interest in participating in the 37th Baghdad International Fair, due to take place in Baghdad from 1st to 10th of November. “Several countries, including France, Turkey, Iran, Japan, and India agreed tp participate in the fair, as well as local and foreign private sector companies”, a […]

$300m Hotel Refurb for Arab Summit in Baghdad

Iraq will spend $300 million [350 billion Iraqi dinars] to upgrade six major hotels in Baghdad for an Arab summit next year, Foreign Minister Hoshyar Zebari told AFP on Tuesday. “We will invest around 300 million dollars to transform our six largest hotels to international standards for the Arab summit at the end of March”, […]

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German School to Open in Kurdistan

A German-language school in the Kurdistan Region’s capital of Erbil will be inaugurated on Sept. 16, and will start admitting students for the 2010-11 academic year, according to a report from AKnews. “It is going to be the first private school in Kurdistan that is supported by the German government and it will become a […]

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Occidental to Build Water Desalination Plant

Occidental Petroleum is planning to build a water desalination plant in Umm Qasr, Basra, an oil expert said on Monday. “The oil company seeks to implement the project as the South Oil Company refused to provide it with the water it requires to inject into wells to develop oilfields,” Dr. Jabar al-Halfi told Aswat al-Iraq […]

$6m to Clean Up Baghdad

The Baghdad Mayoralty has allocated 7 billion Iraqi dinars [$6m] to cleaning up the Iraqi capital. “This is an additional amount to the previously allocated funds,” the mayoralty said in a press release on Monday, as received by Aswat al-Iraq news agency. It noted that there is a special services plan in Baghdad for the […]

504 Houses to be Built in Diyala

The Iraqi Construction and Housing Ministry has announced plans to build 504 houses in the province of Diyala by the end of 2011, said the minister on Monday. Minister Bayan Dezayi [Bayan Dezei] said the project was worth 53 billion Iraqi Dinars (ID), over $45 million. Dezayi said they aim to complete the road between […]

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Economist: Iraq Lacks Plan to Develop Industry

An Iraqi economist blamed the high unemployment rate in the country on the government’s failure to develop the industries and reduce food imports, according to a report from AKnews. “The Iraqi government has failed significantly to rescue Iraq from being the main country in the region in terms of consumption of imported foods. There is […]

Gulf Keystone: Further Update on Shaikan-1

Gulf Keystone has announced the results of further testing of the Mus (1,627m to 1,667m) section of the Jurassic on its Shaikan-1 discovery well. Final, stable, production rates during this week’s re-test, using a much improved test setup versus the original 2009 test, were measured at 1,250 bopd with an API gravity of 19.7 degrees […]

DNO: New Director Not Taking Up Position

Based on a proposal from RAK Petroleum PCL and after consultation with other shareholders, the Board of DNO International recommended to the General Meeting (AGM) on 17 June 2010 that Dr. Zalmay Khalilzad and Ms. Shelley Watson be elected as new members of the Board of Directors. DNO has received the following statement from Dr. […]

Korean Firm Hits Oil in Northern Iraq

South Korea’s state-run petroleum company said on Tuesday that it has discovered crude oil reserves in two blocks in northern Iraq. AFP reports that the Maeil Business Newspaper said the reserves in the Bazian and Sangaw North blocks in the Kurdistan autonomous region are estimated to total two billion barrels. But the Korea National Oil […]

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Iraq to Produce Natural Gas in 2 Years

Iraq will produce natural gas in two years, and will become one of the most important gas exporters to Europe, according to a report from Aswat al-Iraq. As we recently reported, the fate of the three gas fields of Akkas, Mansouriya and Siba will be decided in October. A source from the Iraqi Oil Ministry […]

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