Iraq’s state-run South Gas Company says its output will exceed 2 billion cubic feet by 2013, according to a report from Azzaman. The company’s director-general, Hussein Khudhair, said in a statement that “once the projects under construction are completed, the production will be in huge quantities surpassing two billion cubic meters”. He said “gigantic projects” […]
Tenaris has established a service center in Basra as the next step in its commitment to the Iraqi oil and gas market’s development, which began with the supply of tubular goods following its reactivation. From the new service base, Tenaris will provide in-country technical support and service for customers who are using Tenaris technology, staffed […]
Food and goods prices in Baghdad are rising as the Arab summit approaches, reports AKnews. A member of the Iraqi parliament's finance committee said citizens have started to complain about the hike in prices, adding that the government should take action to stabilize market prices. One resident told the news agency that "rising food and […]
Shares in Afren, the oil exploration company with interests in the Kurdistan Region of Iraq, were up nearly 5% in early trading on the London markets following the announcement of full-yer results: The results included the following statement on operations in Kurdistan: Kurdistan Region of Iraq - a world class petroleum play 2011 saw the […]
Turkish Airlines hopes to increase the number of flights between Turkey and Basra from four to seven per week. Farouk Qaimagja, of the Turkish Consulate in Basra, told AKnews: "We are working seriously to reach this number of flights per week. We hope that this will be achieved as soon as possible through the cooperation […]
Shares in WesternZagros closed up more than 10% on Monday following the announcement of a new oil find in Kurdistan, and the publication of results:
The Kurdistan Regional Government (KRG) has issued the follow statement on the reported granting of a contract to BP for the development of oilfields in Kirkuk: Neither Iraq’s federal oil ministry nor state-owned oil companies have the right to unilaterally award contracts to develop currently producing fields in Kirkuk province or in other adjacent areas, […]
ABB, the global power and automation technology group, has won an order from the Ministry of Electricity (MOE) in Iraq to provide a state-of-the-art power distribution management system. The solution will incorporate advanced communication technology, with monitoring and control functions, to improve the availability, performance and reliability of power supplies in the capital, Baghdad. ABB […]
US President Barack Obama has nominated a former member of president George W. Bush's national security staff to be the next US ambassador to Iraq, according to AFP. Brett McGurk is currently senior advisor to US Ambassador James Jeffrey, and served in Baghdad as senior advisor to the previous two US ambassadors, Ryan Crocker and […]
Iraq gears up for Arab League Summit: (Source: Al Jazeera)
AKnews reports that Iraq's new currency will include three languages: Arabic, Kurdish, and English. It will also include archaeological features including those of the Kurdistan Region. Speaking on behalf of the economic committee in the Iraqi Council of Representatives, Muhama Khalil said that deleting the three zeros, and restructuring the currency will provide significant economic […]
Advertising Feature Iraq Business News is delighted to bring you the latest Iraq Market Tracker report from Dunia Frontier Consultants. The market tracker highlights the activities and market performance of a basket of publicly traded firms who derive a significant percentage of their revenues from operations in Iraq, but are traded on foreign exchanges: a […]
