Reuters reports on Wednesday that Iraq has delayed its 4th energy bidding round by more than a month. Originally scheduled for 7-8 March, the auction for the 12 new gas and oil exploration blocks will now be held on 11-12 April. Abdul-Mahdy al-Ameedi, director of the oil ministry's contracts and licensing directorate, told Reuters: "We […]
Iraq plans to start shipping crude from the first of its three new offshore export terminals in the Gulf at the start of February, according to Reuters. The new single-point mooring (SPM), which will boost export capacity by 900,000 barrels per day, was due to start operation on 1st January, but testing of new pipelines has […]
Iraq's oil exports rose by 10,000 barrels per day in December, from 2.135 million bpd to 2.145 million bpd, according to a report from Platts. Citing data from the State Oil Marketing Organization (SOMO), the agency also says that the country's oil production fell by 13,000 bpd in December, to 2.652 million bpd from 2.665 […]
In order to improve the quality of telecom services provided in Iraq, the Iraqi Telecommunications and Posts Company (ITPC) has sought to find the right partner to market its international traffic outside Iraq and to detect and eliminate fraud originating from and terminating into Iraq. And following a rigorous selection process among the leading telecom […]
ONDD, the Belgian export credit agency, has warned in its monthly report that "insecurity, instability and sectarian tensions will continue to prevail in Iraq". The text of their statement is shown below: Iraq: Deteriorating security and political climate as US troops leave the country > Event: The last US troops left Iraq after President Obama‘s […]
By T. Keyzom Ngodup, co-founder at Ideas sYnergy. Ideas sYnergy is Iraq’s first multiple bottom line advisory company committed to inclusive economic and social development through market-based solutions that help build and scale youth-driven innovative ideas for social change. Hamada Zahawi’s article on Al Jazeera writes about the TEDxBaghdad conference in Baghdad that focused on […]
A new silo with a storage capacity of 60,000 tons of wheat is under construction in Erbil province, according to AKnews. An advisor to the Iraqi Kurdistan Regional Ministry of Trade and Industry, Faris Majid, told the news agency that the new project, worth $21 million, occupies a 70-acres site on the Erbil-to-Gwer road in […]
India’s first ambassador to be appointed to Iraq in the last nine years yesterday made his first visit to the Kurdistan Region, to meet President Masoud Barzani and to discuss economic partnership opportunities with the Kurdistan Regional Government. The three-day visit was Ambassador Reddy’s first trip to the Kurdistan Region since assuming his post in […]
Dar Es Salaam Investment Bank, a 70.1% owned subsidiary of HSBC Asia Holdings BV, has sold its 19.465% equity interest in Iraqi insurance company Dar Es Salaam Insurance to Gulf Insurance Company for a cash consideration of IQD1.557bn (approximately US$1.33m). The sale took place on 18 December 2011 and represents the disposal of a non-core […]
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. […]
