The United States Agency for International Development (USAID), together with program partners convened Wednesday, September 14, 2011, in Baghdad to award the first round of grants funded by the US Government through USAID’s Iraq Access to Justice Program. Representatives of Government of Iraq ministries, the U.S. Embassy and other partner organizations attended the meeting, at […]
The KRG’s Head of Foreign Relations in Erbil met Sweden’s Ambassador to Iraq, who announced that Sweden will upgrade its diplomatic presence in Kurdistan to an Embassy Office. The Kurdistan Regional Government’s (KRG) Minister Falah Mustafa Bakir received H.E. Carl Magnus Nesser and his delegation. The ambassador said that the Swedish government has decided to […]
Gulf Keystone has announced that it has successfully raised $200 million to fund its exploration programme in Iraqi Kurdistan. In line with the Company's forward strategy announced on 14 September 2011 and in order to increase the focus on the aggressive programme of exploration and appraisal of the Shaikan, Sheikh Adi and Ber Bahr blocks […]
Volvo Truck Corporation now re-establishes its presence in Iraq by signing an importer contract with the Iraqi company Zam Zam Spring General Trading. A Letter of intent has also been signed for delivery of 1,000 trucks to the Iraqi Ministry of Transport and its related state companies. The intention is to deliver trucks for operation […]
Reuters reports that a fire has broken out at a state-run gas compression unit at Iraq's Rumaila oilfield on Tuesday, killing one person and hitting oil production. "We have stopped exporting gas that would have been exported into this compressor and this will have an impact on our production from Rumaila," BP spokesman David Nicholas […]
As part of the Kurdistan Regional Government’s ongoing transparency initiative, the Ministry of Natural Resources is putting all signed production sharing contracts (PSCs) for oil and gas in the Kurdistan Region into the public domain. The move, announced today by Minister of Natural Resources Ashti Hawrami, means that the PSCs, their attachments and amendments are […]
The Iraqi-Italian Economic Forum was opened in Erbil on Monday, with the participation of between 40 adn 50 Italian companies, along with representatives from the Italian Chambers of Commerce and Industry and Iraqi Chambers of Commerce. The forum, also attended by Iraqi Kurdistan Region’s Minister of Industry & Trade, Sinan al-Chalaby [Chalabi] and the Minister […]
The new head of the European Union Delegation to Iraq, Ambassador Jana Hybášková, paid her first visit to the Kurdistan Region to discuss political and economic ties. In a meeting with Kurdistan Region President Masoud Barzani, recent developments, the current programs and role of the EU in Iraq, and the relationship between the Kurdistan Regional […]
According to a document obtained by Reuters from Iraq's oil ministry, Iraq's Zubair oilfield will reach its peak output target of 1.2 million barrels per day (bpd) by the start of 2017. The Zubair consortium plans to invest around $18 billion to upgrade the southern Iraqi field, spending $2.8 billion in 2011, $4.9 billion in […]
Petrofac, the international oil & gas facilities service provider, and China Petroleum Engineering & Construction Corporation (CPECC), the engineering and construction subsidiary of China National Petroleum Company (CNPC), have established a new strategic joint venture, China Petroleum Petrofac Engineering Services (CPPES). Based in Sharjah, UAE, the joint venture will provide project management and engineering services […]
Iraqi Prime Minister Nouri al-Maliki has ordered the formation of a Higher Council for Economic Affairs to act as a consultant on economic projects in the country, according to a report from Bloomberg. The council “will propose recommendations on economic agreements and the volume of commercial exchanges between Iraq” and countries with which it cooperates […]
Bloomberg reports that Iraq’s oil production rose to 2.81 million barrels a day, the highest level since the U.S.-led invasion in 2003. Output from oilfields in the Basra reached 2.113 million barrels a day, while daily production in Kirkuk stood at 697,000 barrels, the Oil Ministry said in a statement. (Source: Bloomberg)
