Archive | 11th December 2011

New Iraqi Oil Prices for January

Iraq’s State Oil Marketing Organisation (SOMO) has adjusted its official selling prices for its Basra Light and Kirkuk crude grades for January. In common with some other countries, Iraq’s oil is priced relative to regional benchmark prices: For shipments to US, contracts are priced are relative to the Argus Sour Crude Index (ASCI); Shipments to […]

Alstom Signs €400m Power Contract in Iraq

Patrick Kron, Chairman and Chief Executive Officer of Alstom, and the Iraqi Vice Minister of Electricity, His Excellency Salam Kazzaz, signed on 11 December, in the presence of His Excellency Karim Aftan El Jumaily, Minister of Electricity, a contract worth approximately €400 million to build the 728 MW Al Mansuriya gas-fired power plant in the […]

The Economics of Federalism in the Iraqi 2012 Draft Budget

The following article was published by Reidar Visser, an historian of Iraq educated at the University of Oxford and currently based at the Norwegian Institute of International Affairs. It is reproduced here with the author’s permission. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. […]

Video: UN Special Representative on Security in Iraq

Informal comments to the media by Martin Kobler, Special Representative of the Secretary-General for Iraq, on the United Nations Assistance Mission for Iraq (UNAMI): (Source: United Nations) For more analysis on the current security situation please see today's report from our Expert Blogger John Drake.

Deterioration Ahead of the Pullout

Many are concerned that conditions could worsen in Iraq once the US military has withdrawn its forces from the country. Troops are required to leave by the end of the year and the pullout is already well underway. Hundreds of transport vehicles are currently snaking their way south towards the Kuwaiti border. Most of the […]