By John Lee. The new Polish Ambassador to Iraq, Lech Stefaniak, presented his credentials to Iraqi Foreign Minister Hoshyar Zebari on Sunday. The Minister welcomed the Ambassador and praised the friendly relations between the two countries, stressing the Ministry's readiness to provide all required assistance for the success of the Ambassador's mission. The Ambassador thanked […]
Why is the World Energy Outlook 2012 focusing on Iraq? (Source: IEA)
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 4th October 2012). Please click here to download a table of listed companies and their associated ticker codes. ID1,441 / $1,558 (+1.1%) (weekly change). The number of week traded shares was 7.9bn and the weekly trading volume was ID13.1bn ($10.9mn). ISX Company […]
By John Lee. The Kurdistan Regional Government (KRG) is planning to build an oil pipeline to Turkey with a capacity of 1 million barrels a day, according to a report from Platts. KRG natural resources minister Ashti Hawrami (pictured) told an energy conference in Turkey on Thursday that plans were already in place for the […]
By John Lee. Gulf Keystone has announced the launch of an offering of senior unsecured convertible bonds due October 2017 in a principal amount of USD$ 200 million, which may be increased in the event the Company exercises in full its increase option of up to USD$ 25 million (the "Increase Option"). Shares in the […]
The Managing Director of Romania's Rompetrol has said that the company is interested in exploring in Iraq. Gavit Kurkimov (pictured) said: "We have just visited Iraq. The main purpose of our visit was to gather information on the possibilities of drilling there ... we do not carry out any activities in Iraq, but have opened […]
The Central Bank of Iraq (CBI) has ruled out deleting the three zeros from the Iraqi currency in 2013 because it needs time and a new fiscal year. The Deputy Chairman of the CBI, Mudhir Mohamed Salih, told AIN on Wednesday: "The project of crossing out zeros from the Iraqi currency takes time ... The […]
By John Lee. Three sound bites from the past week sum up the investment climate in Iraq: From Deputy Prime Minister for Energy, Dr Hussain al-Sharistani: "Investments between now and 2030 in the energy sector and linked industries will amount to about $500 billion, of which 80 billion is expected to come from the private […]
By John Lee. Passavant-Roediger GmbH, a subsidiary of Dubai-based Drake & Scull, has won a contract to design and build a sludge treatment system for a wastewater plant in Kerbala. According to a report from Bloomberg, the contract is valued at about $23.4 million. Twelve sludge digesters will be installed, and the project will include […]
Iraq Finance 2012: Welcomes the on-going reforms and restructuring of state-owned banks and turning them into independently capitalised corporations and urges a strong commitment to the operational independence of state-owned banks. Welcomes the removal of restrictions on government and government related entities in their dealings with private banks. Urges the reduction of delays in the […]
By John Lee. Pentagon press secretary George Little has said that the US Department of Defense will be able to fund the training of Iraqi security forces for the next 90 days, even though Congress did not include money for the program in its temporary budget resolution. He confirmed that $1.7 million will be used […]
By John Lee. Iraq is to increase export oil exports to Jordan from 10,000 barrels per day to 15,000 bpd at a discounted price, Jordanian Energy Minister Alaa Batayneh said. Following repeated requests by the kingdom, the two countries have agreed that Iraq will sell the additional 5,000 barrels a day at a discount of […]
