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The Biggest Increase in Oil Capacity in History

The balance of risk and reward for investing in Iraq's vast oil reserves is changing, according to a report by Turner Investments. The report, called Oil in Iraq: A Profitable Gamble?  considers safety risk for oil company employees and their families, risks to operations from bombs and landmines, and political risks ranging from a line of […]

Optimism Despite Iraq's New Government

National Alliance MP Hadi Al Amiri is holding the media responsible for creating tension over the government formation talks. I think that Iraq's politicians managed that well enough without us. The distrust continues, with Ayad Allawi, former prime minister, whose Iraqiya bloc won the most votes in the March elections now saying that the result […]

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Investment in Kurdistan Tops $13bn

Prime Minister of the Kurdistan Region, Barham Salih, visited major investment projects that are underway in Sulaymaniyah, the most populous city in the region. At a foundation stone-laying ceremony for Majidi Mall, a major retail building project, prime minister Salih said that direct investment in the Kurdistan Region has surpassed US$13bn. Investment won't stop there: […]

$10m Tourist Resort in Iraq

A tourist resort has been opened this week in central Amara, 150km north of Basra, at a cost of more than 12 billion dinars, reports Aswat al-Iraq. It is part of a 2007 plan to construct a tourist town in the southern city, which is better known for its marshes and Mesopotamian sites. “Adan tourist resort […]

Trade with Turkey Triples

Committees don't just sit around in Iraq. On 19th October the Iraqi government created a committee to increase business and economic relations with Turkey. Now, a member of the committee has said that the two countries are going to increase commercial exchange up to $12bn in 2011, reports AKNews. This is a more than three-fold increase on previous […]

Australia supports Iraq WTO membership

An Iraqi ministry has said that Australia supports its quest for World Trade Organisation membership, according to NINA. WTO membership will significantly boost investment in Iraq as well as increasing its access to goods and services due to fewer restrictions from WTO member countries. WTO membership takes almost as long to attain as agreement at a UN […]

World's Most Dangerous Motorway gets Beauty Treatment

Baghdad's airport road was considered the most dangerous motorway in the world, but the city is now turning it into "the most beautiful street in the world", according to AFP. The US military had called it "RPG alley" (that's rocket-propelled grenade), as road users were at the receiving end of particularly frequent attacks during 2006 and 2007. […]

Another Expo, Another $50m Invested in Iraq

 It may be that the International DBX Trade Fair in Sulaymaniyah city in the Kurdistan region was one trade fair too many in Iraq, as it was unable to draw in the numbers that it wanted to in the four days to Sunday, 14th November. And yet, despite being held in the middle of nowhere easy […]

Global Companies Move Aggressively on Iraqi Oil

By Stan Harbison, Vice President of Research and Analysis at energy consultants EPRINC. The current efforts to dramatically increase Iraq’s oil production are huge in scale and revolutionary in forming a working partnership between Iraq’s own oil industry and the world’s largest oil companies. But more important at the present is the fact that they […]

More Wheat for Iraq

Iraq has just signed more orders for 100,000 tonnes of wheat from the USA, another 100,000 from Australia, and 50,000 from Ukraine. Iraq imports lots of wheat, with which it manufactures flour to use with its ration cards. The ration cards are seen by some Iraqis as better than money and for many are essential support. […]

Will the New Government Bring Security?

After the main factions agreed a government-forming deal on Wednesday it was followed by a two-day Parliament walkout, but the new government now seems a little firmer. Shiite Nouri al-Maliki will remain prime minister and Kurd Jalal Talabani will stay on as President, while Osama al-Nujaifi, a Sunni Arab, has been selected as parliament speaker. Other […]

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Huge Gas Deals Signed

Further to our reports of major gas contracts being agreed in principal on 20 October for three fields holding 11 trillion cubic feet of gas (4 trillion cubic metres), most of them have now been signed. Turkish Petroleum Corporation (TPAO),  Kuwait Energy and Kogas won the right to operate Iraq's Mansuriyah gas fields and have committed to producing 320m cubic feet of […]