Basra’s Provincial Council has approved different projects according to the budget of 2010. “The issue of deciding projects according to the 2010 budget will be finalized on Wednesday (April 14),” a source from the council told Aswat al-Iraq news agency on Tuesday. He noted that the projects embrace different sectors in the province. ( Aswat […]
Author Archive | adrianshaw
Investment Conference Kicks off in Arbil
A conference to activate the investment sector in Diala kicked off on Tuesday in the northern city of Arbil, head of the Diala council’s investment committee said. “A reconstruction conference began on Tuesday (Arbil 13) in the city of Arbil to activate and encourage investments in Diala and to attract capital to implement important projects […]
The Political Hydraulics of OPEC
OPEC is a maddeningly opaque outfit; its public pronouncements frequently seem carefully crafted to conceal its private calculations. The 12-member cartel controls about one-third of the world’s daily oil supply — not quite enough to give it absolute control over the price per barrel, but enough to allow it to consistently manipulate the price to […]
Shell Faces ‘No Difficulty’ on Gas - Iraq
Iraq and Royal Dutch Shell Plc can reach an agreement on a gas project by extending negotiations for another six months in order to settle storage issues, Oil Ministry spokesman Asim Jihad said. Jihad said there were “no difficulties” in the talks, except that “storage places are currently not ready.” “There is no harm in […]
IEA: Oil Prices Could Hurt Economic Recovery
Recovery in the world's biggest economies could be jeopardized if crude oil prices stay over $80 per barrel, the International Energy Agency said Tuesday. The IEA also reported that OPEC posted the first "significant decline" in output in March in more than a year -- falling 190,000 barrels per day to 29 million barrels a […]
Solution Closer on Paying Oil Firms
Kurdish and federal Iraqi officials have agreed on a potential solution to the problem of paying oil firms operating in the Kurdish north. They require approval by the Iraqi cabinet, a Kurdish official said to Reuters. Abdul Karim Louaibi, Deputy Ol Minister and a delegation travelled to Erbil on Sunday and held talks with natural […]
Tags: Oil & Gas
Agriculture Ministry to Import Helicopters
The Iraqi Ministry of Agriculture signed a contract on Monday to import seven helicopters that will be used for agricultural purposes. “The contract’s total value is €17.4 million”, the Ministry said in a press release received by Aswat al-Iraq news agency. It noted that the helicopters will be supplied with spare parts. “The company that […]
Tags: Agriculture
Iranian Consul Meets with Basra Council
The deputy head of the Basra council, Ahmed al-Sulaity, met with the Iranian consul to discuss plans for future cooperation in the areas of power and water, according to an official statement. “Throughout the meeting views have been exchanged concerning cooperation between Basra province and the Islamic Republic of Iran in order to achieve the […]
6,600 Apartments to Be Built in Basra
The investment commission in Basra has announced a project to build 552 housing units in Basra’s Faw district, the head of the commission said on Monday. “Each unit is made up of three stories and 12 apartments of 100 square meters each”, Haydar Ali told Aswat al-Iraq news agency. A theme park project will also […]
Foreign Investment Continues, as Lukoil Announces Plans
Foreign direct investment continues in Iraq as the pace picks up on the rehabilitation of the country’s infrastructure and economic base. Russian-based LuKoil is to drill its first exploration well at Iraq West Qurna 2. Mr. Vagit Alekperov CEO of LUKoil said that Russia’s largest privately held oil company, LUKoil, "[will] start drilling the first […]
Loan Limit Increased to Farmers in Kirkuk
The loan limit to farmers in Kirkuk has been increased to ID250 million. “Loan amounts depend on the farming project,” Mahdi Mubarak, the Kirkuk agriculture director, told Aswat al-Iraq news agency on Monday. He noted that the loan is given by the Iraqi government, and covers 80 percent of project’s cost. “Farmers will pay no […]
Education Employee Sentenced to 7 Years in Jail for Embezzlement
The Criminal Court in Thi-Qar has sentenced an education employee to seven years in prison for embezzling 145 million Iraqi dinars (ID). “The employee has been found guilty in accordance with Article 316 of the Criminal Law,” the Supreme Criminal Council said in a statement received by Aswat al-Iraq news agency. The statement said that […]
Tags: education, Jail Sentence