By John Lee. Reuters reports that "thousands" of people are still speculating on a huge upward revaluation of the Iraqi dinar, which it describes as "one of the chanciest investments in the world". It quotes a Las Vegas-based speculator, who previously lost most of his retirement fund on the stock market, as saying: "It's not […]
By Mark DeWeaver. I recently had occasion to bone up on Islamic finance while preparing for a meeting with Kurdistan International Bank (BKUI), Iraq’s largest Islamic bank. In the process, I noticed an interesting parallel between a form of financing known as mudarabah and a game theory concept I hadn’t thought about since my graduate […]
By John Lee. DNO International ASA, the Norwegian oil and gas company, today announced that gross production across its oil and gas portfolio has exceeded 100,000 barrels of oil equivalent (boe) per day for the first time, split two-thirds from the Kurdistan region of Iraq and the balance from Oman and Yemen. On a Company […]
Shares in Heritage Oil closed down 1.9 percent on Thursday, following the company's interim management statement. The companay gave the following update on its operations in Iraqi Kurdistan: Following the Initial Sale, HEME currently holds a 49% interest in the Miran Block and continues to act as operator. Miran West Initial work-over operations to prepare […]
Iraq's Transport Minister, Hadi al-Amiri, has met the Manager Director of the Swedish truck company Scania, Gustav Sandel, to discuss ways to use the company's expertise in the development of Iraqi ground transportation. The ministry is reportedly in the process of developing and modernising its transport fleet, particularly road transport and passenger transport. (Source: NINA)
Karbala Investment Commission has laid the cornerstone for the housing complex in the Zahra neighborhood in Hindiya district, southern Karbala. The deputy chairman of the Commission, Ahmed al-Maliki, said the project would involve 500 housing units, an elementary school, kindergarten, nursery, markets, public parks and infrastructure services. It will be built on a 60-acre site […]
Advertising Feature Internationally acclaimed experts from across the oil and gas sector will be addressing the challenges and opportunities in the Iraqi market, at the upcoming Basra Oil & Gas International Exhibition & Conference. Speakers from Weatherford, Gulf Energy, South Oil Company (SOC) and Penspen will put forward their views on technology, health & safety, […]
By John Lee. A couple of weeks ago, the former British Prime Minister Tony Blair addressed the Iraq Britain Business Council’s 4th London Conference on the theme: “Iraq: The Road To Success?” Mr Blair will always be associated with Iraq, positively or negatively, depending on ones view, and he has a keen understanding of the […]
By John Lee. Oil Minister Abdul Kareem Luaiby [Luaibi, Elaibi] (pictured) has told the Abu Dhabi International Petroleum Exhibition and Conference that Iraq could spend up to $150 billion on projects to expand its crude production capacity. The Wall Street Journal quotes the Minister as saying: "Iraq can reach 9 million barrels per day in […]
By John Lee. The Abu Dhabi National Energy Company (TAQA) is said to be in advanced talks to buy a stake in the Atrush Block in Iraqi Kurdistan. The Atrush Block is operated by the joint-venture company General Exploration Partners (GEP) which holds an 80 percent working interest in the Block. Aspect Holdings, LLC through […]
By John Lee. Iraqis are divided over plans to reform the country's largest social welfare programme. Iraq’s cabinet decided last week to remove the food rationing scheme in favour of a direct cash transfer to citizens, which would mean that from the start of March next year, all Iraqis would be entitled to a monthly […]
By John Lee. The University of Baghdad has signed a joint cooperation agreement with Microsoft, under which the American technology giant will provide supplies for the application of scientific quality and reliability standards at the university. The deal includes the provision of 1000 copies of Windows 7 for use by university departments, colleges and institutes […]
