The withdrawal of US troops from Iraq enters its final month, but it would be a mistake to think that this leaves Iraq without the support of the world's biggest economy. On Thursday the US and Iraq issued a joint statement re-affirming their commitment to "forging a strong partnership based on mutual interests that will […]
At the 'Iraq: Untapped Opportunities' conference in London last week, the Deputy Prime Minister with responsibility for energy, Dr Hussain al-Shahristani (pictured), said Iraq needed $200 billion (240 trillion Iraqi dinars) of investment in the energy sector over the next six years. This investment would be broken down as follows: $100bn to develop upstream oil […]
The President of Iraqi Kurdistan said on Wednesday that the region will go ahead with its exploration deal with U.S. oil major Exxon Mobil despite objections from Baghdad. According to Reuters, Masoud Barzani (pictured) said Iraqi Prime Minister Nuri al-Maliki was told of the deal prior to its signing and had no objection, and called […]
The EIC is organising an oil and gas trade mission to Basra in Iraq. Missioners will have the opportunity to attend organised group meetings with key local players, as well as incorporating a briefing meeting presented by qualified speakers with in-market experience and the opportunity to meet with local companies. Why Iraq? As Iraq works […]
The United States of America and the Republic of Iraq are committed to forging a strong partnership based on mutual interests that will continue to grow for years to come. Our two nations are entering a new phase in our relationship. We have a historic opportunity to strengthen our ties beyond security and build a […]
Turkey said it could use Iraq as an alternative trade route, cutting out Syria entirely as Damascus faces broad economic sanctions over its deadly crackdown on its 8-month-old uprising. Syria has been a main transit route for Middle East trade, which Damascus hopes will help cushion the effects of tough new sanctions from the Arab […]
Russia's Gazprom Neft expects to start commercial production at Iraq's Badra (Badrah) gas field in August 2013, according to Reuters. Initial production is expected to be 15,000 barrels per day. The company said it commenced drilling the first appraisal well on Thursday. "The results of the initial appraisal wells will allow us to better understand the […]
Najaf's government has allocated 15 billion IQD ($13 million USD) to develop Najaf International Airport, according to AKnews. The governor of Najaf, Adnan al-Zarafi told AKnews that the development plans will include updating equipment, expanding the apron and improving mechanisms for dealing with more traffic. A new committee has been formed by the Council to […]
A UAE-based wholesaler and retailer of luxury fashion brands is eyeing acquisition opportunities and joint ventures in Iraq. Tony Jashanmal (pictured), Group Director of Jashanmal National Company, said: "Yes, we are looking for acquisitions, and we have let the word out that we are indeed looking for joint ventures and acquisitions ... We're targeting the […]
Representatives of Poland’s Malopolska Region on Monday in Erbil signed a Declaration of Cooperation with the Kurdistan Region. The agreement marks a significant step in relations between Poland and Kurdistan. The declaration was signed by Mr Marek Sowa, the Marshal of Poland’s Malopolska Region, and the Kurdistan Regional Government (KRG) Minister of Trade and Industry […]
Honeywell has said it currently has $360m worth of contracts in Iraq, Dow Jones has reported. The US-based engineering firm has a contract with China National Petroleum Corporation (CNPC) to develop process control systems and fire and gas detection systems at the Ahdab oil field, Tarek Nahl, the company's Middle East sales manager, told the […]
The Iraqi Cement Company made a profit of 16 billion dinar [$13 million], according to Aswat al-Iraq. "A major success has been achieved by the Ministry of Industry Minerals and the Iraqi Cement Company," a media spokesman for the Company's Director-General, Nasser al-Madani reported. "The Company had achieved more than 16 billion (b) dinar proft […]
