U.S. firm Weatherford embarked on drilling a new oil well in eastern al-Amara city on Sunday, as part of a $224 million [262 billion Iraqi dinars] deal to drill 20 wells in 0rder to increase oil production, said Missan Oil Company’s information director. “Weatherford started drilling the new well in the al-Bazrakan oilfield, (70 km) […]
Iraq's state-owned North Refineries Company yesterday said it had re-started production at its Baiji oil refinery, and was looking to boost production levels to 80 per cent to make up losses after a shutdown, according to a report from Gulf Daily News. The refinery normally operates at 70pc of its capacity. An official at the […]
Gunmen robbed the crews of four ships anchored off Iraq's southern oil hub of Basra last week, in Iraqi regional waters patrolled by the U.S. Navy, a Navy official said on Sunday. The attackers targeted the Antigua-flagged Arminia, North Korea's Crystal Wave, Syria's Sana Star and the American ship Sagamore last Sunday and took personal […]
Federal prosecutors in the U.S. are investigating whether a major contractor overcharged the government. They are investigating allegations that the Louis Berger Group (LBG) submitted inflated invoices to the U.S. Agency for International Development (USAID), which oversees international development projects. The company works in countries including the U.S., Iraq, Afghanistan and India. LBG's Chairman, Derish […]
Access to quality financial services, especially for rural small-scale farmers is a challenge anywhere in the world. USAID-Tijara microfinance institution (MFI) partner Tal’afar Economic Development Center (TEDC) launched a new agricultural loan product focused on small-scale rural farmers to help them meet this challenge in the northern Iraq Province of Ninawa. At a ceremony to […]
The Iraqi Minister of Labor and Social Affairs, Mahmoud al-Sheikh Radhi, has rejected the idea that Iraq should join the World Trade Organization (WTO). “My ministry examined this issue considering its effects on the levels of labor and unemployment,” the minister told Aswat al-Iraq news agency on Sunday. He noted that his ministry has conclusively […]
Audi Volkswagen Middle East has expanded its dealer network in the region by announcing National Automotive Trading Co, a Moin Behbahani Group company, as the official dealer for the Audi and Volkswagen brands in Iraq. Construction of the Audi and Volkswagen showrooms and service facilities, located in Erbil/Kurdistan, are currently underway and are scheduled to […]
Bahrain-headquartered Sabre Travel Network Middle East (STNME), the world's leading provider of high performance travel solutions, is expanding its presence in the Middle East by partnering with Kanoo Travel to become the first Global Distribution System (GDS) operating within Iraq. Kanoo Travel, presently the largest travel agency group within the Middle East and one of […]
Following our report of a guerrilla attack halting the transport of oil through the Kirkuk-Ceyhan pipeline, news agencies report the resumption of oil flow to the port through the second pipeline. Oil flow was restored to 350,000-400,000 barrels per day, the same rate as before the bombing, said an official with Iraq's North Oil Company […]
An Iranian trade center was opened on Wednesday in the Kurdistan Region’s second largest city of Sulaimaniya, with Iran’s assistant trade minister and local officials in attendance, according to AKnews. It is the second Iranian trade center in Kurdistan and it includes wholesale and retail sections for agricultural, technology, housing, and food products. Around 45 […]
Iran's new ambassador to Iraq said that trade between the one-time rivals will double in the near future, even as his country is under stringent international sanctions over its nuclear program, according to a report from BusinessWeek. The prediction by Hassan Dannaie Fir reflects the strengthening of relations between the two Shiite-led neighbors who fought […]
ShaMaran Petroleum Corp. (TSX VENTURE:SNM) has announced that the Company has entered into an agreement with the Kurdistan Regional Government of Iraq ("KRG") to amend the Pulkhana Block 10 and the Arbat Block Production Sharing Agreements ("PSC"). The amendments relieve the Company of its contractual requirement to allot 150 million common shares of ShaMaran for the […]
