UPI reports that lawmakers in Baghdad have been asked to ban future oil contracts until a federal law on the energy sector is passed. Adnan Janabi, chairman of the Iraqi Parliament's Oil and Energy Committee, called on legislators to ban future oil contracts until they can pass a federal hydrocarbon law. The country's Oil Ministry […]
The Iraqi economy is suffering due to a lack of properly trained managers, an Iraqi business leader said on Monday. The head of the Iraqi businessmen federation in Basra, Sabih Habib al-Hashemi, told AKnews that the management situation means that Iraq's resources are not being properly exploited. "Most of the economic issues in the country […]
Bloomberg reports that Iraq exported 2.273 million barrels of oil a day in June, the most since the 2003 U.S.-led invasion of the country, according to Falah al-Amri, chairman of the State Oil Marketing Organization (SOMO). June oil revenue, at an average price of $105 a barrel, dropped to $7.1 billion from $7.4 billion a […]
Alstom Grid has been awarded a €80 million contract from Calik Energy [Calik Enerji], a leading Turkish energy company, for the supply of electrical transmission equipment to be installed in two power plants being built in Iraq by Calik Energy. This contract is considered the largest one to date for Alstom Grid in Iraq. The […]
A project to build a 22km urban rail network in the Iraqi capital has been put on hold due to a lack of funds, an advisor to the Transport Ministry said on Tuesday. Karim Nouri told AKnews that the cost of the project exceeds this year’s federal budget allocation. The 14-station metro line was intended […]
The United States opened a consulate Tuesday in Basra, the first such diplomatic presence in the southern Iraqi city in more than four decades; the last U.S. consulate in Basra closed in 1967. The new consulate comes days after the United States handed over three joint security stations in southern Iraq to Iraqi authorities as […]
Iraqi Media reports that a British company called 'Mayfair' has proposed a $300 million housing project to Basra Investment Commission. Other sources suggest that the company is in fact the Indian-based Mayfair Housing. Head of the BIC Haider Ali Fadel reportedly said the project would be funded by the World Bank. The project includes the […]
Advertising Feature International oil and gas companies from 70 countries together with key Iraqi oil and gas industry experts will be gathering at the Landmark Hotel, London from 12-14 July for the latest edition of CWC Iraq Petroleum conference. The event will focus on the next phase of developing Iraq’s oil and gas resources as […]
The Turkish ambassador to Iraq, Murat Ozcelik, said Turkey is seeking to strengthen trade relations with Iraq through establishing a large investment base in the oil-rich port city of Basra. Turkey is eyeing Basra as a launchpad for its investment and trade development in the south of the country, according to Ozcelik . ‘There are […]
Further to the recent news regarding the transfer of control of the Development Fund for Iraq from the UN to Iraqi control, full details of the final meeting of the International Advisory and Monitoring Board (IAMB)'s last meeting in Amman, Jordan, on 30th June, are attached below. Please click here to download the IAMB's press […]
Closer trade and political ties were forged this week between Kurdistan and Northern Ireland during a visit to Belfast by a Kurdish business delegation led by two ministers. Kurdistan Regional Government (KRG) Trade and Industry Minister Sinan Celebi, Municipalities and Tourism Minister Samir Abdullah and several KRG officials met with Northern Ireland's Enterprise, Trade and […]
Wassit's local authorities announced on Monday that the Numaniya military airport will be redeveloped for civilian use. Aswat al-Iraq reports that the facility, 40 km north of Kut, will be used for transporting freight. In the past, the site was used as an ammunitions store, as well as a military airport. The local authorities in […]
