Iraq's State Oil Marketing Organisation (SOMO) has cut the official selling price for September shipments of its Basra Light crude to Asia, reducing the cost to its lowest level in eighteen months, while raising its price to the US. In common with some other countries, Iraq's oil is priced relative to regional benchmark prices: For […]
Dr Sami Al Araji, chairman of Iraq's National Investment Commission, has said the government has selected 35 international firms to build one million new housing units across the country, Arabic Al Sabah newspaper has reported. The firms were selected from 117 applicant companies, and are reportedly from U.S., Canada, Turkey, Spain, France, Germany and South […]
The Russian drought and fires have caused the price of wheat to rocket, and this is expected to be reflected in the price of essentials such as bread and beer. Shortages are to be expected in the coming months. Iraq is one of the world's biggest importers of rice and wheat, but its Trade Ministry […]
The Ministry of Higher Education and Scientific Research in Iraq announced on Thursday that the Lebanese International University (LIU) is to build a campus in Baghdad during the coming academic year, according to a report from AKnews. "The Ministry signed a memorandum of understanding with the LIU to open a branch in Baghdad ", said […]
The Iraqi Industry Ministry has started environment friendly projects in 17 of its companies and factories. “The total cost of the projects is around ID54 billion [$46m],” said a press release issued by the ministry on Saturday as received by Aswat al-Iraq news agency. It noted that the projects aim at reducing both water and […]
Mosul's gas-fueled power station has been shut down due to an act of sabotage in western Mosul city, which cut the gas pipeline that feeds the facility, according to a report from Aswat al-Iraq. “A bomb hit the pipeline in the al-Mansoor area, western Mosul city,” said a release issued by the Iraqi Electricity Ministry […]
A total of 25 billion Iraqi dinars [$21m] have been granted to farmers in Karbala in recent months to help them to increase their production, the director of the Karbala agriculture department said on Wednesday. “The Karbala agriculture department has granted 2181 farmers agricultural loans worth more than 25.229 billion dinars,” Baher Ghali told Aswat […]
The Iranian car manufacturer IKCO plans to expand its overseas sales in the Middle East, while boosting exports to Iraq has already increased the company's market share in that country by 30 percent. Models such as the Samand, Peugeot 405, 206 and Roa are the most popular for export to Iraq, mainly as police cars […]
Halliburton has won a contract to drill 15 wells at the super-giant Majnoon oilfield, operated by Shell and Petronas, according to a report this afternoon from Reuters. (Source: Reuters) Related articles: Moody’s Boosts Petronas Rating on Iraq Exposure Shell to Award Deals to Develop Iraq’s Oil Fields Iraqi Oil Ministry Sets 2014-15 Targets for Crude […]
Petrofac (LSE: PFC) has won a contract to build two new crude oil processing plants with a capacity of 50,000 barrels per day each, and to rehabilitate an existing crude oil plant, an official at Iraq's Oil Ministry has reported to Reuters. (Source: Reuters) Related articles: Halliburton Wins Majnoon Drilling Contract Petrofac Targets Iraq Oil […]
The managing director of the Italian national oil company, ENI, confirmed on Monday that the company aims to increase oil production by 15 percent in southern Iraq’s Zubair oil fields by the end of this year. AKnews reports that the remarks by Gino Jianoa came during a visit to Basra to discuss the Zubair contract […]
Iraq exported over 57 million barrels of oil in July, an average of 1,850,000 barrels per day, said Iraq’s deputy oil minister on Sunday. Speaking to AKnews, Mutasam Akram said the country’s oil exports had decreased by around 50,000 barrels a day during the month of August. In May, the country exported over 85 million […]
