Iraq has signed a Memorandum of Understanding in Baghdad with Shell to make a technical and economic feasibility study to set up a major petrochemical plant, reports Aswat al-Iraq. “Iraq has a big vision to cope with the big leaps in the oil sector in the coming few years through the use of the natural […]
The Director General of the Private Transport Section of the Ministry of Transport, Mr. Abdullah Laibi, outlined the opening of the new $14 million passenger terminal adjacent to Karbala airport. Designed to ease congestion between Najaf and Karbala, the new 2,000 car parking facility integrates accommodation, restaurant facilities making access to the airport for pilgrims […]
By Gavin Jones, Director of Iraq Business News, and Partner at consultancy firm Upper Quartile. The Ministry of Construction in Iraq has just spent $250 million on weighbridges from a company based in the British Midlands, for use at border crossings; as Iraqis buys more and more overseas goods, it is important to ensure that […]
Iraq's Transportation Ministry sent a crew of five sailors to China to take delivery of a new $14m (16.3bn IQD) ship for the Iraqi fleet. The Iraqi Naval Transportation Company contracted China's ANT to construct the 7,000-ton ship, which will carry goods from China to Iraq and will "reinforce Iraqi marine trade". This brings to […]
Iraq's Oil Minster, Abdul Kareem Luaibi [Elaibi], has opened the second unit of the Diwaniya refinery, which will produce 10,000 bpd, raising the total production to 20,000 bpd. The year-long project cost 63 billion dinars [$53 million] and was carried out in cooperation with the ministry of industry & minerals. The plant will produce: Naphtha: […]
The Iraqi government plans to increase trade with Egypt to $2 billion (2.4 trillion IQD) this year, according to a report from AKnews. Last year the figure reached only $400 million (466 billion IQD), said Kamal Sharif, chairman of the committee tasked with planning the increase. He said the Ministry of Trade, and the General […]
Bloomberg reports that Jordan’s Aphrodite Trading Company has won a $240 million [285 billion Iraqi dinar] contract to build 2,500 housing units in the city of Tikrit in northern Iraq. Jawhar Hamad, the president of Salahuddin Investment Commission, told the agency that the project will be completed within three years. The province needs 19,800 residential […]
Last week (4-5 April) The Rt Hon David Willetts MP – UK Minister for Universities and Science – visited Erbil in the Kurdistan Region of Iraq and brought with him a delegation of 12 senior representatives from UK Higher and Further Education. The delegation included three University Vice Chancellors and the Chief Executive of the […]
The United Nations special representative to Iraq, Martin Kobler, has issued his second address to the United Nations Security Council. He addressed security issues, improving relations with Kuwait, and the country's Chapter VII status: Please click here to download a full transcript of the statement. (Source: UN)
Last week we reported that Ian Hannam, a top advisor at JPMorgan Chase, has stepped down to appeal a £450,000 ($720,000) fine from the UK’s Financial Services Authority (FSA) for disclosing inside information about a potential offer for Heritage Oil, as well as news of an oil find. Reuters' sources claim that the email recipient […]
Abu Dhabi National Energy (TAQA), a state-owned oil explorer and power supplier, said it bought a 50 percent interest in a power plant in Iraqi Kurdistan. According to Reuters, the plant, which has been operating since 2009, has a capacity of 750 megawatts, with an additional 250 megawatts under construction. The company signed a joint […]
Iraq's Minister for Housing and Construction, Mohammed Sahib al-Darraji, spoke to Gavin Jones for Iraq Business News: The Ministry of Housing and Construction is responsible for building over 2 million houses between now and 2015, as well as several thousand kilometres of highway and several dozen schools, hospitals and various other infrastructure projects; it's a […]
