Shares in Norway-based DNO International jumped 16% on Monday following the announcement of its merger with RAK Petroleum's Middle East and North Africa subsidiaries. A tie-up between the two companies has been rumoured for some time, especially following the boardroom coup that saw RAK's CEO oust DNO's chairman. You can hear a replay of this […]
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No Need for National Oil Company - Oil Minister
The creation of a new Iraqi National Oil Company (INOC) to run the country's energy sector is not essential and might confuse the work of the oil ministry, Iraq's oil minister said on Sunday, according to Reuters. Iraq's cabinet approved a draft law setting up a new national oil company in 2009, but the agency […]
Tags: INOC, Iraqi National Oil Company
Canadian Firm Wins $1.7bn Iraqi Power Contract
Iraq has signed a $1.2 billion contract with Canada's Capgent to build 10 power stations with a total capacity of 1,000 megawatts in a bid to meet local demand, Reuters reports. A ministry spokesman told AFP that the plants were to be constructed within 12 months in the provinces of Anbar, western Iraq, and in […]
Tags: Canada, Canadian Alliance for Power Generation Equipment, Capgent, Electricity In Iraq, Hyundai
Kurdistan and Scotland Agree to Strengthen Ties
A ministerial-led delegation of business leaders from the Kurdistan Region in Iraq this week visited Edinburgh, where they met Scottish ministers, members of parliament and business organisations who all agreed the two nations should strengthen their ties. Trade and Industry Minister Sinan Çelebi and Municipalities and Tourism Minister Samir Abdullah Mustafa discussed tourism, the trading […]
Basra – Model of Reconstruction or Too Good to be True?
By Marko Lukic. In October of 2010, Move One reported on the economic recovery of Basra as the first wave of post-war energy exploration companies set up operations and introduced a level of prosperity and stability that has not been seen in years. Since then the city has become a focal point for foreign investment […]
Tags: Basra News, Move One
Baghdad is Ready for Boarding
Advertising Feature Fly Austrian Airlines to Erbil and our latest destination: Baghdad. Enjoy Austrian hospitality and excellent service on board. Via Vienna, Europe’s fastest transfer airport. Book now on austrian.com.
Tags: air routes, Austrian Airlines
Mott MacDonald is Engineer for New Erbil Power Plant
Mott MacDonald is owner’s engineer for the conversion of Arbeel Power Plant in Erbil, Iraq from simple cycle to combined cycle. The project, on behalf of Mass Global Investment Company (MGI), will be the first combined cycle gas fired plant in Iraq. The existing plant consists of eight 9E gas turbines, manufactured by GE, operating […]
Tags: Mass Global, Mott MacDonald
Turkey and Iraq Sign Agreement for New Air Routes
Turkish and Iraqi civil aviation authorities have signed a cooperation agreement increasing the number of flights and launching new flight destinations between the two countries, according to Business Turkey Today. Within the framework of the agreement, Turkish airline companies will operate flights from Istanbul, Ankara and Antalya to the Iraqi cities of Baghdad and Irbil. […]
Tags: air routes, Turkey
Iraq Signs $365m Iranian Gas Pipeline Agreement
Iraq signed a $365 million agreement to install a pipeline network to import natural gas from Iran for power stations in the country, according to reports from Bloomberg and Iran Independent News Service. The pipelines will eventually supply 25 million cubic meters of Iranian natural gas a day to the Sadr, al-Quds and South Baghdad […]
Tags: Al-Mansouriah, Iran, KOGAS Iraq News, Kuwait Energy, Mansouriya, Mansuria, Mansuriyah, pipelines, TPAO, Turkiye Petrolleri
Iraq's Assets Subject to Seizure?
The passing of control of the Development Fund for Iraq (DFI) to the Iraqi government may make the assets vulnerable to seizure. A lawyer for Kuwait Airways told Bloomberg in an interview that “the class of assets against which we can seek enforcement has expanded.” Christopher Gooding (pictured), a partner at London-based Fasken Martineau, said: […]
Security Council Welcomes Iraq’s Control of Development Fund
The United Nations Security Council welcomed the Iraqi Government’s assumption of full autonomy, with effect from 1st July, over the proceeds of a development fund set up after the 2003 United States-led invasion to meet the country’s humanitarian needs, economic reconstruction and infrastructure repairs. In a press statement, the Council welcomed the Government’s establishment of […]
Calls for Inquiry into Attacks on Iraqi Protesters
Iraqi authorities should order a prompt and impartial inquiry into the role of state security forces in attacks by pro-government gangs against peaceful demonstrators in Baghdad on June 10, 2011, Human Rights Watch said today. The groups of mainly young men, armed with wooden planks, knives, iron pipes, and other weapons, beat and stabbed peaceful […]
Tags: Human Rights Watch, Protests