Bloomberg reports that BP will start drilling exploratory wells at the Risha natural gas deposit in Jordan, near the border with Iraq, in the coming weeks. Jordanian Energy Ministry spokesman Fayez Abu Gaoud told the agency, “if it is proven that the volume of gas in the field is feasible for commercial purposes, the development […]
In its latest corporate update, Gulfsands Petroleum included the following statement on its Iraqi operations: Gulfsands signed a Memorandum of Understanding in January 2005 with the Ministry of Oil in Iraq for the Maysan Gas Project in Southern Iraq, following completion of a feasibility study on the project, and is negotiating details of a definitive […]
The Duhok Investment Commission has licensed two housing projects comprising over 8,000 residential units in the distrit of Zakho (pictured), on the Turkish border, according to AKnews. The agency reports that Kurdistan has a shortage of 100,000 housing units, but this project is expected to meet all the requirements of Zakho. The two projects will […]
Iraq’s Ministry of Planning has reportedly canceled its contract with Switzerland's SGS after the company allegedly failed to respond to Iraqi authorities about what they described as “sluggish work”. SGS and Iraq signed a contract in January 2011 whereby the Swiss company provides product conformity assessment services for qualifying products allowing their importation into Iraq […]
There has been a welcome outbreak of pragmatism in Iraq in recent days. While the fact that ExxonMobil will apparently be allowed to take part in the auction for the fourth round oil licences was not entirely unexpected, some will see it as a climb down on the part of Baghdad. Others, such as Hess […]
Iraq’s legislation doesn’t prevent oil companies from signing deals with the central government in Baghdad and with the KRG, as ExxonMobil has done, said Adnan al-Janabi, chairman of Iraq’s Oil and Energy Committee. Speaking on the sidelines of an oil conference in London, he added, "there are no blacklists in parliament". “With or without the […]
AKnews reports that the Iraqi government has allocated $15 billion (17.3 trillion Iraqi dinars) for infrastructure projects in the proposed 2012 budget. At the last budget meeting on 5th December, Baghdad set the budget at $100 billion (115.8 trillion IQD) with a deficit of $13.5 million. Abdul-Hussein Abtan, a member of the House of Representatives […]
Iraq plans to ship 17 cargoes of Basrah Light crude oil from the Persian Gulf in the first half of February, according to a loading program obtained by Bloomberg. This would be two cargoes more than in the second half of January. A total of 28.06 million barrels, or 1.87 million barrels a day, will be […]
The Arab League envoy to Iraq, Ahmed Bin Hili, said on Wednesday that Iraq is ready to host the next Arab League Summit, expected to be held in Baghdad in March. According to AKnews, Bin Hili arrived in Baghdad on 30th January to inspect the preparations for the summit, which has been postponed several times […]
This article was written by Abeer Mohammed, and was originally published by the Institute for War and Peace Reporting, iwpr.net. It is reproduced by Iraq Business News with permission. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. A decision by Iraq’s Sunni Arab political […]
Northrop Grumman Corporation (NYSE:NOC) has received a $122 million contract to install and sustain Counter-Rocket, Artillery and Mortar (C-RAM) systems at forward operating bases (FOBs) supporting Operation Enduring Freedom and the ongoing United States Mission in Iraq (USM-I). The contract includes options that, if fully exercised, would raise the potential value of the contract to […]
The Ministry of Municipalities and Public Works has announced that 12 British companies have agreed to build water purification plants in five Iraqi provinces, according to AKnews. Jassim Mohammed, media adviser at the Ministry, told the news agency that the new plants will be in the provinces of Anbar, Diyala, Najaf, Dhi Qar and Basra. […]
