Deputy Premier for Energy Affairs Hussein al-Shahristani (pictured) has opened a new 250-MW, gas-fired power station in Karbala. Sharistani said that the government is working on electricity generating stations in Babel, Karbala and Anbar provinces, while another 250-MW station will be opened in Hilla in the coming days. Iraq recently announced that it also plans […]
By John Lee. The Emir of Kuwait has signed into law the financial settlement reached with Iraq regarding Kuwait Airways. Iraq's Ministry of Foreign Affairs says that law firms in Britain have been told to drop all proceedings against Iraqi Airways and Iraqi properties. Under this settlement, Iraq will pay $500 million as final compensation to […]
DLA Piper, the global law firm, has advised on a major deal in Iraq, to create a specialised oil and gas free zone. The firm acted on behalf of Basra International Oil and Gas Hub (BIOGH) on a joint venture agreement with the Iraqi Free Zone Authority, a unit of the Ministry of Finance. The […]
By Gary Sandiford, Olive Group’s Dubai based assessments manager. Olive Group is a leading provider of security and technology solutions and has operated continuously in Iraq since 2003. Overview Olive Groups Iraq statistics are drawn from multiple sources, including media reporting and direct liaison with in country assets. Included within the statistics are a […]
By John Lee. Reuters reports that Kurdistan has begun shipping oil to international markets in independent export deals that some see as paving the way to greater Kurdish autonomy. The move is likely to further enrage the central government in Baghdad, but the involvement of two of the world's largest trading houses, Trafigura and Vitol, […]
By John Lee. Iraq's Ministry of Oil has announced the launch of the Nassiriya Integrated Project, and invited interested companies to become formally qualified to participate in its development. The project involves the integrated development of the more than 4-billion barrel Nassiriya oil field in Thi-Qar province together with the construction and operation of a […]
From October 23 - 24, 2012, the U.S. Mission in Iraq, through the U.S. Agency for International Development (USAID), and in cooperation with the Iraqi Microfinance Network, will host the Inclusive Financial Services Stakeholders’ Conference at the Rotana Hotel in Erbil. The conference theme is “Iraqi Microfinance – The Path to Economic and Social Advancement”. […]
The Trade Development Director of UK Trade and Investment (UKTI), Crispin Simon, led a large British delegation to the Erbil Trade Fair last week. Sixty-one British delegates, representing 39 companies from several key sectors, including education, participated in the Fair. The UK pavilion was the second largest of all the countries represented at the event. […]
By Laith Hammoudi. This article was originally published by the Institute for War and Peace Reporting, iwpr.net, and it is reproduced by Iraq Business News with permission. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraq’s parliament has postponed discussions on a controversial amnesty […]
By John Lee. The Kurdistan Regional Government's Minister for Natural Resources, Ashti Hawrami (pictured), has announced that the Kurdish region will be self-sufficient in oil products next year. He expects an increase in Kurdistan refinery's production from 40,000 to 100,000 barrels per day, resulting in a surplus of oil products. Hawrami also disclosed that there […]
By John Lee. Iraqi Oil Ministry spokesman Asim Jihad has told Aswat al-Iraq that Korea’s state-run Korea Gas Corporation (KOGAS) will soon begin work on the first stage of a new pipeline linking Kirkuk to Beiji [Bayji, Baiji]. According to the report, the $128-million project will bring dry and liquid gas from Kirkuk to Beiji, and […]
By John Lee. The Times of India reports that dozens of Indian nurses have travelled to Iraq in recent days to plug a shortfall in its hospitals and healthcare facilities. Baghdad's Medical City hospital welcomed 35 Indian nurses, while another 31 arrived to work in Diwaniya. Information on hirings in other provinces was not available. […]
