Greek power plant builder Metka SA, and Turkey’s Gama Holding AS, are reportedly the remaining two companies on the shortlist to build a new power station in Iraq, according to a report from Bloomberg, citing Naftemporiki. The 500 MW plant has an estimated budget of $400 million. In recent weeks both of these companies, along with […]
The Kurdish Regional Government’s President Masoud Barzani has been telling a delegation of Iraq Britain Business Council members the door to trade with the Kurdish region was wide open. He said: "I hope that as companies you will support us at this critical time in the development of Kurdistan. "There are British businesses here already […]
In Salahaddin on Monday KRG President Masoud Barzani welcomed the outgoing German Ambassador Christian Berger, who came to bid farewell to the Kurdistan Region as he concludes his term in Iraq. President Barzani thanked the Ambassador for the important contributions of the German people and government toward the ongoing development of Kurdistan, and Germany’s significant […]
The Middle East Association is pleased to be hosting a VIP Lunch with Bayan Rahman, High Representative to the UK of the Kurdistan Regional Government at Bury House on Wednesday 27th June. Please find the flyer and registration form (corrected) attached. Bayan Sami Abdul Rahman began her career as a journalist in the UK and […]
Iraq's oil production targets may be revisited, as the country refines its plans to ramp up output. Thamir Ghadhban, Chairman of the Advisory Commission to Prime Minister Nouri al-Maliki, told CWC's Iraq Petroleum 2012 conference in London that production will hit 3.4 million barrels per day (bpd) at the end of 2012, 3.9 million bpd […]
Iraq's electricity problem could be solved by the end of the 2013, according to Iraq's deputy prime-minister with responsibility for energy. Husain al-Shahristani (pictured) told local reporters, “this year power output will reach 9,000 megawatts and skyrocket to 20,000 megawatts in 2013”. AKnews reports that he made the remarks as he inaugurated a new 400MW […]
State-owned China National Petroleum Corporation (CNPC) says the first phase of Iraq's Halfaya oilfield has started operating at 100,000 bpd, 15 months ahead of schedule. The company says it has already started preliminary work on the second phase of development at the field, which will bring the capacity to 200,000 bpd. Iraq signed a 20-year […]
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. After many postponements, Iraq’s fourth bid round took place on 30-31 May 2012. Twelve exploration blocks were offered, but only three were awarded. With two-thirds of the offered blocks receiving no bid, […]
Following a visit by a delegation of Dutch companies to Kurdistan last week, AKnews reports that about 100 Dutch companies have expressed an interest in working in the region for the first time. The companies attended an economic forum promoting the Kurdistan Region and looking at prospects for Dutch investors. Azad Ahmed, from the Chamber […]
A businessman from Bolton in UK, Asad Shamim, of Furniture In Fashion, says that the local companies must strike the emerging markets of Iraq, as it is said to start a major rebuilding program. Quick to see an opening, the entrepreneur has already sold £60,000 [$96,000] worth of furniture to a new hotel in the […]
Trade Arabia reports that Iraq's core inflation slowed to 6.2 per cent in May, down from 6.7 per cent in April. The fall was due to a drop in the costs of food and housing said Mudher Kasim, deputy governor of the central bank. In April, the country saw high annual inflation mainly due to […]
The Kurdistan Regional Government's Head of Foreign Relations officially opened a new Representation Office in Vienna on Saturday, making it the 13th KRG representation office abroad. At the same time, Austria's Vice Chancellor and Foreign Minister announced that Austria also plans to open a representation office in Erbil as well. Minister Falah Mustafa opened the […]
