First Int’l Economic Conference in Ninewa

The first international economic conference will be held in Ninewa on June 24, which will cover construction, trade, energy, agriculture and information fields, the Ninewa governor said on Tuesday. “Preparations are underway to hold the five-day conference in Ninewa next June 24,” Atheel al-Najiefi told Aswat al-Iraq news agency. The conference will be organized by […]

CBI Dollar Sales Up to $182m

The Central Bank of Iraq (CBI) dollar sales went up to reach $182.444 million in its daily auction Tuesday, compared to $82.740 million in the previous session. “The demand hit $4.690 million in cash, covered at an exchange rate of 1,183 Iraqi dinars per dollar, and $177.754 million in foreign transfers outside the country, covered […]

Natural Gas could Make Nabucco Pipeline Feasible

A minister from the semi-autonomous region of Northern Iraq said the area could provide natural gas to make the Nabucco pipeline feasible, EurActiv reported with reference to Northern Iraqi Energy Minister Ashti Hawrami. “We can provide 14 or 15 billion cubic metres to make the project work,” said Hawrami. According to him, Northern Iraq is […]

Transneft Backs Turkish Crude Quota

Russia’s oil pipeline monopoly Transneft may support quotas on oil shipments through Turkey’s straits to fill a pipeline to the Mediterranean. Transneft may take up to a 50% stake in the $3 billion Samsun-Ceyhan pipeline project, co-led by Italy’s Eni , that will link the Black Sea and the Mediterranean and advance Turkey’s plan to […]

Kirkuk Pipe rupture was sabotage

A pipeline rupture that halted Iraq’s crude oil exports to the Turkish Mediterranean port of Ceyhan was caused by sabotage and could take up to five days to fix, a source at Iraq’s North Oil Company said today. The rupture halted oil flow from Iraq’s northern fields to Ceyhan on Sunday. “After examining the oil […]

Iraq Signs Agreement with Norway

Iraq has signed a  development agreement of co operation with Norway. A press statement issued by the Foreign Affairs Ministry received by Eye media says that the minister, Hoshiar Zeebari, signed the agreement with Norway’s ambassador. The agreement is for development and expansion of cooperation in environment, fund management and competence in oil administration. Zeebari […]

No easy fix for corrupt state banks

Last month, on the occasion of Rafidain Bank’s 69th anniversary celebration, the chairman reported that the bank was looking forward to implementing its new IT system “as soon as possible.”  The system, which includes the Mysis products “Bankmaster” and “Branchpower,” is supposed to increase efficiency and reduce operational risk by bringing together information throughout the […]

Baghdad Puts Gas Trio on Table

Iraq plans to offer three gas fields with combined in-place resources of 25 trillion cubic feet of gas to international bidders “in the coming months”, according to Iraqi Oil Minister Hussain Shahristani.