Tag Archives | Greece

Flights from Greece to Iraq to Resume

By John Lee. The Iraqi Civil Aviation Authority (ICAA) has reached an agreement with its counterpart in Greece to re-start flights between the two countries, following a meeting between the parties on Tuesday. According to a report from Neos Kosmos, there will be 10 passenger flights and two cargo flights per week, commencing on Saturday 4th […]

Greece Opens Erbil Consulate

By Simon Kent. Greek Foreign Minister Nikos Kotzias has announced the opening of a consulate in Erbil, capital of the semi-autonomous region of Iraqi- Kurdistan. Greece already has an embassy in Erbil, and the announcement suggested the new consultate will “substantially upgrade” the country’s diplomatic presence in Iraq. (Source: Independent Balkan News Agency)

Low Oil Price Threat to Iraq’s Eurobond Bid

By Simon Kent. A recent report by Standard & Poor gave Iraq a B- foreign currency rating, indicating significant risk for investors, but nonetheless noted that in the short term, the economy would remain stable with 0.3% growth and longer term, up to 5% from rising oil output up to 2018. That is the good news […]

‘Settlement Agreed’ in Oil Shipping Case

By John Lee. A Greek shipping company has reportedly agreed to settle with Baghdad over its role in the export of crude oil from Iraqi Kurdistan, which Baghdad regards as illegal. Last September, the federal government in Baghdad filed a $300-million lawsuit against Marine Management Services (MMS), and subsequently banned three of its oil tankers from […]

Investors may be sought for Grand Faw Port

By John Lee. Iraqi Transport Minister Baqr Jabr Al-Zubeidi (pictured) has said that Iraq is considering seeking foreign investors to fund the multi-billion-dollar Grand Faw [Grand Fao] port project. Emirates 24/7 quotes the Minister as saying that the transport ministry is unable to execute the $6-billion (7-trillion-Iraqi-dinar) project, and is considering awarding the project “on […]

Iraq Bans KRG Tankers

By John Lee. Platts reports that Iraq has banned three oil tankers from loading at its oil terminals. in response to direct exports of crude by the Kurdistan Regional Government over the objections of Baghdad, shipping market sources said Friday. The United Carrier (pictured), the United Dynamic and the Nautilus have previously transported crude on […]

Iraq Sues Shipping Firm for “Illegal” Kurdish Exports

By John Lee. Iraq has taken legal action against Greece’s Marine Management Services (MMS) over its role in the export of crude oil from Iraqi Kurdistan, which Baghdad regards as illegal. The tanker concerned, the Marshall Islands-flagged United Kalavrvta (pictured), is still said to be fully laden off the coast of Texas, carrying $100m worth […]

Iraq Shortlists Candidates for Jordan Pipeline

By John Lee. The Wall Street Journal and Reuters report that Iraq has shortlisted 12 international companies to build the new $18-billion oil export pipeline to Jordan, the country’s first such pipeline in decades. Iraq’s oil ministry has chosen these companies from a list of more than 80 international firms which submitted their credentials to build […]

Greek Company wins $26.8m Hospital Deal

By John Lee. Greek company TERNA has reportedly been awarded a $26.8m turnkey contract to construct a 100-bed hospital in Basra. According to Construction Weekly, the design and build project consists of a general hospital covering a built area of 18,000 m2, including 2,000 m2 for a staff residence and 22 rooms for special care. It […]

METKA Signs $1bn Iraqi Power Deal

By John Lee. Greek construction company METKA, a subsidiary of the Mytilineos Group, has announced the signing of a $1.05-billion contract with Iraq’s Ministry of Electricity for the construction of a combined cycle power station in Anbar. The deal involves the engineering, procurement, construction and commissioning of a natural gas-powered plant with a capacity of 1,642 […]