The last in a convoy of American armoured vehicles rolled across the border into Kuwait on the chilly morning of December 18, 2011, marking the completion of the US withdrawal from Iraq. One year later, many Iraqis still lack basic services such as consistent electricity and clean water, and though levels of violence are down, […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 13th December 2012). Please click here to download a table of listed companies and their associated ticker codes. ID1,655 / $1,790 (+2.0%) (weekly change). The number of week traded shares was 25.5bn and the weekly trading volume was ID32.3bn ($26.9mn). Note: ISX will […]
BP is said to be close to reaching a deal with Iraq to cut the final production target for the Rumaila oilfield to between 1.8 million and 2.2 million barrels per day (bpd). According to Reuters, officials from BP, the state-run South Oil Company (SOC), and the Ministry of Oil, have been in talks for […]
Lockheed Martin has delivered a C-130J Super Hercules to the Iraqi Air Force at a formal ceremony this week. This is one of the initial three aircraft of a total of six C-130Js ordered by Iraq. The other two of these initial three aircraft departed yesterday for Iraq. The remaining three C-130Js will be delivered […]
Iran's Ambassador to Iraq, Hassan Danaeifar, says Tehran plans to export $12 billion worth of goods to Iraq by the end the current Persian calendar year (ending March 20, 2013), up from around $11 billion last year. "Iraq's free economy has created a competitive atmosphere for exporters from all over the world. Iranian cooperatives should […]
The Special Representative of the Secretary-General (SRSG) for Iraq, Mr. Martin Kobler (pictured), welcomed the approval by the Iraqi Council of Representatives yesterday of the fourth amendment to the Governorate Council elections law, which determines the seat allocation formula to be applied in the elections. "The amendment was the final element in approving the legal […]
At a roadshow in London today, Iraq sought investors for two new oil pipelines: A 2.25-million bpd line from Basra to the pumping station at Haditha, to be built on an EPC (engineer, procure and construct) contract; and, A 750,000- to 1-million bpd line from Haditha to the port of Aqaba in Jordan, on a […]
Iraq's Ministry of Water Resources has reportedly invited National Engineering Services of Pakistan (NESPAK) to participate in an irrigation project. The Express Tribune reports that the project, called "East Gharaf", will provide sustainable irrigation and drainage facilities for about 390,000 acres of land in the general areas of Nassiriya and Kut. State-owned NESPAK had worked on […]
The Board of EITI (Extractive Industries Transparency Initiative) has declared Iraq to be 'Compliant' with the EITI Standard. There are now 18 countries that are 'EITI Compliant'. EITI compliance means that the country has an effective process for annual disclosure and reconciliation of all revenues from its extractive sector. This allows citizens to see how […]
Iraqi Oil Minister Abdul Kareem al-Luaibi [Elaibi] talks about the extension of Abdalla El-Badri's tenure as secretary general of the Organization of Petroleum Exporting Countries (OPEC). He spoke with Bloomberg Television's Ryan Chilcote in Vienna: (Source: Bloomberg)
By John Lee. OPEC ministers have failed to agree on a new secretary general and have asked Abdalla el-Badri to stay in the post for another year. Four countries had been competing for the job -- Saudi Arabia, Iran, Iraq and Ecuador -- but Ecuador’s candidate, oil minister Wilson Pastor-Morris, announced last week that he […]
By John Lee. A British contractor has agreed to plead guilty to wire fraud conspiracy in a deal to supply vehicles to Iraqi police, according to Associated Press. APTx was to receive $5.7 million as a subcontractor in an August 2004 deal to procure 51 vehicles for the Iraqi Police Authority. The US Department of […]
