In his joint press conference with Iraqi Prime Minister Nouri al-Maliki on December 12, 2011, President Barak Obama noted that “In the coming years, it’s estimated that Iraq’s economy will grow even faster than China’s or India’s.” Foreign and regional investors interested in Iraq’s economic potential, but uncertain about the country’s investment regulations, arbitration laws […]
Basra Investment Commission (BIC) has agreed in principle to build an iron and steel factory worth of $150 million (175 billion IQD). AKnews reports that it is a joint proposal by Erbil Steel Company and a Turkish company. Khalaf Badran, head of the BIC, told AKnews that the Commission has expressed its "full support" for […]
Malaysia's Synergistic Generation Sdn Bhd (SGSB), which is 60 percent owned by UMW Holdings Bhd, has entered into a $30 million contract with Petronas Carigali Iraq Holding BV (PCIHBV). The contract is for the procurement of materials and equipment and installation and commissioning of all equipment and facilities by SGSB for the setting up of […]
Supporters say the Iraqi PM is simply shoring up support and abiding by the law. Critics say he’s more interested in ditching the difficult three party system and starting a new government of his own. Will al-Maliki become Iraq's new dictator? Or will he struggle on with the democratic process, asks this article from Niqash. […]
Baghdad Council has announced that it had agreed to build an American university at a cost of $245 million USD (286 billion IQD) in the Bismaya area southeast of the capital. The Chairman of the Council's Planning and Follow-up Commission, Mohammed al-Rabie, told AKnews the faculty will be limited to science, engineering and medicine and […]
The following video purports to show Iraqi oil smugglers digging up an underground pipeline, tapping into it, and then sucking up the overflowing oil. From the Musings on Iraq website: (Sources: Musings on Iraq, Youtube)
Exactly a year since the (admittedly partial) formation of the Iraqi cabinet, Iraq is gripped by a governmental crisis that could spark further violence between the rival factions. While not meaning to downplay the seriousness of the problem, it's worth noting that in the past week alone we have reported nine separate completed business deals […]
Genel Energy, the oil and gas company headed by Tony Hayward (pictured), the former BP chief executive, has confirmed that it is in talks about a deal that would expand its presence in Iraq's energy industry. The company issued the following statement on Wednesday: "Genel Energy plc notes the press speculation with regard to the […]
The leaders of the Gulf Cooperation Council said they support Kuwait in its dispute with Baghdad over the construction of the Mubarak port. The leaders declared at the conclusion of their regular summit in Riyadh that Mubarak port will ve established on Kuwaiti land and within its territorial waters as per the borders drawn by […]
Baker Hughes (BHI) has secured a $640 million contract to drill 60 wells at Iraq's southern Zubair oil field, according to a report from Dow Jones. Iraqi government spokesman Ali Al Dabbagh reportedly said on Tuesday that the Iraqi government and the consortium led by Italy's Eni had awarded the contract to an unnamed U.S. […]
Gulf Keystone has announced that the Shaikan-6 appraisal well has spudded on the Shaikan block in the Kurdistan Region of Iraq on 16th December 2011. Shaikan-6 is the fourth deep appraisal well to be drilled on the Company's major oil discovery with independently audited gross oil-in-place volumes of between 8 billion barrels and 13.4 billion […]
Flydubai has added two additional Iraqi destinations to its network with flights to Baghdad and Najaf due to start in the New Year. The new routes bring flydubai's network to 48 destinations across 27 countries in the Gulf, Middle East, Africa, Indian Sub-Continent, Asia and the fringes of Europe. Flydubai launched services to Iraq in […]
