Iraq has invited Indian companies to take part in its reconstruction programme either independently or through joint ventures with local partners, reports the Hindu Business Line. Iraqi Deputy Prime Minister, Dr Rowsch Shaways (pictured), told the Indian Minister of Commerce, Industry and Textiles, Anand Sharma, that India is committed to deepen its relations with Iraq: […]
Jordan's Prime Minister, Awn Khasawneh (pictured), has called for practical steps to extend an oil pipeline between Iraq and Jordan and to connect the two countries by rail, according to the Jordanian news agency Petra. During a meeting with Iraq’s planning minister Ali al Shukri, Khasawneh stressed the need to facilitate the movement of people […]
Iraq Business News has just received photographs of the two new ship-to-shore cranes arriving at Gulftainer's Iraq Container Terminal at Umm Qasr. They are now located on their rails on the quayside, and will commence operations within days, making these the only berths operating 24/7, allowing secure, safe and speedy handling of Tenaris pipes. Another […]
DHL, the world's logistics company, hosted a special 'Partners in Trade' event on the importance of the Iraq and Afghanistan trade lane to customers in the UAE, as part of its continued efforts to facilitate and capitalize on regional trade lane relationships and partnerships. The event, which took place at Dubai's iconic Emirates Towers Hotel, […]
The Australian ambassador to Baghdad, Lyndall Sachs (pictured), said her country supports the lifting of United Nation's Chapter VII sanctions on Iraq, a decision on which is expected to be made by the UN Security Council in June. Sachs said: "My country has good relations with Iraq, in particular [because] it received the largest Iraqi communities […]
Genel Energy is still awaiting government approval for its plan to increase its interest in the Chia Surkh block in the Kurdistan Region of Iraq from 20% to 80% and to become the operator of the field. This morning (Thursday) the company issued the following update to the market: On 16 January 2012, Genel Energy plc […]
Long-term investors in many Iraq-focused oil companies have had their patience amply rewarded, as shares in companies such as Gulf Keystone Petroleum (GKP) and DNO have registered significant gains. Tony Hayward, CEO of Genel Energy, puts this down in part to ExxonMobil's entry into Kurdistan, which has highlighted the opportunities in the region. So much […]
According to reports by various U.S. government agencies, multilateral institutions and other international organizations, long-term Iraq reconstruction costs could reach $500 billion or higher. The proposed Hydrocarbons Law, which governs oil contracting and regulation, has been under review in the Council of Ministers since October 26, 2008, but has not received final passage. Iraq was […]
Iraq's cabinet has approved a $363 million (435 billion Iraqi dinar) contract on Tuesday with Egypt's Orascom Construction to build a 1,014 MW gas-fired power plant in the northern town of Baiji [Beiji, Bayji]. The contract involves building the plant and installing six 169 MW generators which Iraq bought from Siemens in 2008. The project […]
Oil giant BP is reported to be in talks with Iraq to boost output from the Kirkuk oilfield in the north of the country. Bloomberg, citing sources at the Middle East Economic Survey (MEES), says BP officials will meet with Iraq’s North Oil Company (NOC) within weeks to discuss increasing capacity at Kirkuk from about 260,000 […]
Sami al Araji, chairman of Iraq's National Investment Commission (NIC), has told a business audience in New Delhi that his country needs $500-$700 billion in investment to rebuild its infrastructure. Araji compared the opportunities in Iraq to "Germany after the Second World War", adding, "our message to the world is that we are open for […]
Iraq's transport minister, Hadi al-Ameri [al-Amari] (pictured), has appealed to foreign firms to help restore his country's dilapidated infrastructure by rebuilding airports and constructing a European-style rail network, according to a report from AFP. Addressing nearly 50 companies in Baghdad's heavily-fortified Green Zone, he said that as Iraq's oil income rises in the coming years there […]
