Italian oil major Eni is expected to award a tender to drill more than 100 new oil wells at its Zubair oil field in southern Iraq in August, according to a report from Dow Jones. "We received the bids and we are in the process of assessing them," an executive told the news agency. Several […]
On Tuesday, Basra Council discussed projects which will be implemented in 2011, according to a head of the reconstruction committee. The projects are in several budgetary categories and have a total value of 286 billion Iraqi dinars ($240m). “The council made a comprehensive assessments of all projects for 2011 in the areas of health, electricity, […]
A senior official in the Iraqi Central Bank said that inflation in Iraq continuedto fall in June and reached 2.7%, compared with 3% in May. The Central Bank of Iraq slashed its base rate by 100 basis points to six per cent in April in reaction to subdued inflation, though the interest rate is considered […]
At Monday’s AGM of Petrel Resources (LON:PET), the Dublin-based oil exploration company, managing director David Horgan told investors that Iraq is "the best place in the world for oil". “Petrel has raised a total of US$15 million or £10 million from 1994 to date ... It has operated continually in Iraq since 1999 and has […]
A source at the directorate of jewelry quality control in Erbil told AKnews on Sunday that 19 Kg of diamonds have been imported into the Kurdistan Region so far this year. A diamond dealer confirms that demand for diamonds has grown in the Region in recent months. “We check diamonds and other jewelry imported into […]
An Iraqi economic expert has called on the government to use the border areas to support the Iraqi economy and to create more border crossings for trade. "Over the years, Iraq has not pushed hard enough to open commercial markets with the surrounding countries”, Ali Ke Ji, an Iraqi economic expert, said on Sunday. "We […]
VSE Corporation (NASDAQ GS: VSEC) reported on Monday that the Global Division of its International Group has been awarded a $10 million delivery order to provide material and technical support for the Iraqi Navy at Umm Qasr, Iraq. The scope of work includes outfitting a new Ship Repair Facility with the industrial equipment required to […]
The Kurdistan Cabinet advisor for international relations, said Jihan Rashid Snedi, announced on Sunday that an Egyptian trade delegation will visit the Kurdistan Region. "The Egyptian trade delegation plans to talk with the chief of Kurdistan Chamber of Commerce about reconstruction, investment, business, technology, agriculture and higher education during its stay in Kurdistan," Snedi noted. […]
Iraqi President Jalal Talabani met with an Iranian official on Sunday to discuss bilateral economic relations and ways to expand trade between the two countries, according to a presidential press release. “Talabani welcomed Ali Agha Muhammadi, the economic assistant to the first vice president of Iran, and his accompanying delegation, and expressed Iraq’s keenness on […]
A new industrial area will be built to replace the old one east of Amara [Amarah] city, in Maysan province. “The new industrial area will be on the Amara-Mashrah road, 5 km east of Amara,” a local source told Aswat al-Iraq news agency. He noted that the new industrial area’s designs have been prepared. Amara, […]
Kirkuk’s governor said on Sunday that the Iraqi government has allocated 132 billion Iraqi Dinars (ID) -- over $100 million -- to Kirkuk as its share of oil revenues in the first six month of this year. Kirkuk is one of Iraq’s major centers of oil production. Since 2009, for each barrel of exported oil, […]
Iraq exported 1.823 million barrels a day of crude oil in June, down 4% on the 1.9 million barrels a day exported in May, the Iraqi Oil Ministry said in a statement issued on Monday. Dow Jones reports that Iraq exported in June an average of 1.44 million bpd from its southern terminals at the […]
