Iraq Buys Ten 787 Dreamliners

Iraq has signed a deal with Boeing to buy ten  787 Dreamliners on behalf of its flag carrier, Iraqi Airways, the National has reported. The contract was reported on the Boeing website this week, although the deal was apparently concluded on December 22. The aircraft are worth a total of $1.7bn at list prices, but […]

ISX Up 1.2%

The Iraqi Stock Exchange (ISX) index went up on Tuesday by 1.2% to close at 99 points as 13 out of a total of 37 quoted shares traded during today’s session went up. 10 companies’ shares went down, while 14 retained their previous prices. The number of traded shares hit 7.285 billion worth over 8.597 […]

Unauthorized Construction Material Warning

The Ministry of Planning has warned citizens against dealing with unauthorized construction materials, a ministerial statement said on Tuesday. “A source from the Central Organization for Standardization and Quality Control (COSQC) of the Ministry of Planning and Development Cooperation (MoPDC) warned citizens against a number of local and imported goods as they lack basic requirements,” […]

CBI’s Dollar Sales Drop to 85m on Tuesday

The Central Bank of Iraq’s (CBI) dollar sales fell to $85.010 million in its daily auction on Tuesday, compared to $183.530 million in the previous session. “The demand hit $5.01 million in cash, covered at an exchange rate of 1,183 Iraqi dinars per dollar, and $80 million in foreign transfers outside the country, covered at […]

Revenues for Oil Producing Provinces

The Iraqi Council of Ministers has proposed to Parliament that part of the oil revenues be allocated to provinces that produce oil. “The cabinet proposed the allocation of $1 per barrel to each province that produces oil,” Dr. Ali al-Dabbagh, the official spokesperson of the Iraqi government, said in a release on Tuesday received by […]

CNOOC and Sinochem Win Bid for Iraqi Oilfield

According to a Wall Street Journal report, Iraqi officials said that a consortium led by China National Offshore Oil Corporation (CNOOC) is expected to win the bid for Missan oilfields in southern Iraq. The consortium had accepted the price offered by the government of Iraq. The oilfield has reserves of about 2.5 billion barrels. An […]

Gulf shares shoot up

Shares in Gulf Keystone Petroleum Ltd (AIM: GKP) shot up in London trading after the group announced that the operator of the Akri Bijeel block in Iraq’s Kurdistan region concluded a successful oil test in the Bijeel-1 exploration well. The well was spudded in mid-December 2009. Gulf Keystone holds a 20 percent working interest in […]

Hungary’s Kurdistan Well Hits Oil

Hungarian oil and gas group MOL(MOLB.BU) announced on Tuesday that it had discovered oil in the Akri-Bijeel Block in the Kurdistan Region of Iraq where they conduct tests jointly with Gulf Keystone Petroleum, reports Reuters.. MOL,which owns an 80 percent share, said its exploration well tested 3,200 bbl/day oil and also associated gas. It said […]

Second TV Station Opened in Talafar

A local TV station was officially opened in Talafar, to become the second in the district, according to the station’s director. “An official ceremony was organized today (March 8) on the official inauguration of the Turkmen-speaking channel in Talafar,” Hazem al-Afandi told Aswat al-Iraq news agency. “The channel’s transmission will cover 40 km square but […]

Water Shortages Impact Power Output

The issue of power shortages is related to water shortages, Electricity Minister Kareem Waheed said. Waheed said water shortages have forced his ministry to redirect investments in this vital sector. Power outages in Iraq may last up to 20 hours a day. Waheed said volumes of water reaching Iraq have dropped substantially . Iraq relies […]

Memorandum Extended with Shell

Iraq has extended a memorandum of understanding with Royal Dutch Shell on a natural gas venture in Basra for six months from March 2010, Iraq’s oil minister Hussein Al Shahristani told Reuters on Sunday. “We will resume talks with Shell after the election,” Al Shahristani said after he cast his vote in the country’s second […]

Preliminary Election Results Expected This Week

An estimated 62% of the 19 million eligible voters went to the polls in Sunday’s parliamentary elections – this was down from the 75% seen in the 2005 elections, but was still a very respectable turnout. Preliminary results should be available this week, but final official results will not be declared until the end of […]