Tag Archives | Kuwait

The latest news on Iraq – Kuwait business – investment, Disputes and more – brought to you by Iraq Business News

Kuwaiti Investor plans $58m Project in Basra

By John Lee. A Kuwaiti businessman is reportedly planning to grow 100,000 date palms and build a nature reserve complete with ostriches and deer in southern Badia, 150 km from the city of Basra. According to Reuters, Abdul-Aziz al-Babtain is investing $58 million in the project, which will see the palms grown over the next […]

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Kuwait Energy may sell Block 9

By John Lee. Kuwait Energy has reportedly hired an investment bank to advise it on options that could include selling all or part of its Block 9 field in southern Iraq. Reuters says that Perella Weinberg Partners (PWP) will assist in creating liquidity and a cash buffer to repay debt. Discussions on a possible merger […]

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UNHCR & Kuwait follow progress of Kuwait Fund Project in Iraq

UNHCR and Consul General of Kuwait follow progress of Kuwait Fund project in Iraq UNHCR Coordinator for the Kurdistan Region of Iraq, Ms. Monica Noro, and the Consul General of the State of Kuwait in Erbil, Dr. Omer Al-Kendari, visited Dohuk Governorate yesterday to observe the progress of the Kuwait Fund for Arab Economic Development […]

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Kuwait Energy starts Producing Gas at Siba

By John Lee. Kuwait Energy has started producing natural gas from the Siba field, south of Basra, on Wednesday. Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] (pictured) announced an inital production rate of 25 million cubic feet a day (mcf/d), increasing to 100 mcf/d by the end of the year. Kuwait Energy was awarded a […]

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Oil Ministry Conf on Development of 11 Exploration Zones

By John Lee. Iraq’s Ministry of Oil will hold a conference on Thursday 29th March to announce for a new licensing round to develop and rehabilitate 11 exploration zones on the borders of Iran and Kuwait, including one offshore zone on the Gulf. The conference will be attended by 13 international companies which have purchased the […]

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Iraq signs Memorandum of Cooperation with Kuwaiti Company

By John Lee. Iraq’s Oil Ministry has signed a a memorandum of cooperation with the Kuwait-based company Al-Arfaj, with a view to capturing and using associated gas from Iraq’s oil fields. Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] ending gas flaring and using the gas for petrochemical production was a priority for the Ministry. According […]

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$30bn Pledged to Iraq – Time to Act!

Following the Kuwait International Conference for the Reconstruction of Iraq earlier this week, Iraq has so far received pledges of financing totalling around $30 billion to help with rebuilding the country after the devastating war against the Islamic State group. While this is well short of the $88 billion in funding estimated to be needed, […]

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World Bank’s Commitment to Iraq Reaches $4.7bn

The World Bank Group and the Government of Iraq signed two projects today totaling US$510 million to help the Iraqi people by improving living conditions, enhancing water supplies, and creating jobs. The two projects along with the ongoing US$750 million Emergency Operation for Development program and other planned commitments, will increase the World Bank’s total […]

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UN launches Iraq Recovery and Resilience Programme

UN Secretary-General António Guterres launched the Iraq Recovery and Resilience Programme today at the Kuwait International Conference for the Reconstruction of Iraq. The two-year Recovery and Resilience Programme is designed to fast-track the social dimensions of reconstruction and help ensure that people see tangible improvements in their daily lives at the start of the reconstruction […]

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Video: Donors pledge more than $300m to Iraq

From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iraq is hoping for more concrete pledges from international donors on the second day of a conference on rebuilding cities and infrastructure shattered by the conflict with ISIL (the Islamic State of Iraq […]

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