BP and its partner China National Petroleum Corporation (CNPC) will be the first companies to be paid back by the Iraqi government for developing Iraq's supergiant Rumaila oil field, a senior Iraqi oil official told Dow Jones Newswires. "The first company that we are going to pay back costs and remuneration fees to will be […]
By Stan Harbison, Vice President of Research and Analysis at energy consultants EPRINC. A year ago, Iraqi oil officials were no doubt justifiably proud of their achievement in 2009. Against all skepticism they had in hand contractual agreements with foreign oil companies to rapidly develop over 60 billion barrels of oil reserves. It was an […]
The following article was published on Sunday by Reidar Visser, an historian of Iraq educated at the University of Oxford and currently based at the Norwegian Institute of International Affairs. It is reproduced here with the author’s permission. The opinions expressed are those of the author, and do not necessarily reflect the views of Iraq […]
A unique event is about to unfold in Iraq, where for the first time ever a cinema multiplex will open in the recently constructed Family Mall in Erbil, the region’s newest shopping and leisure destination. “This is a one of a kind project,” says Gino Haddad, CFO and Business Development Director for Empire Cinemas. The […]
The Iranian Deputy Energy Minister Mohammad Behzad (pictured) has said the Iranian-built Al Sadr power-plant in Iraq is an important project which is now ready to come on stream. IRINN quoted the minister as saying that the first unit of this 324 MW plant has been completed and is waiting for its fuel supply, and […]
AKnews reports that the Vice Chairman of the Babil Investment Commission has complained that Iraq’s investment law has been “paralyzed” by the state’s failure to implement it effectively in ministries and government departments. Abbas al-Tai told the agency that Iraq is one of the best places in the world for investors as it lacks many […]
Human Rights Watch has just issued a 102-page report on human rights in Iraq, calling on the government to protect the rights of vulnerable groups and to amend its penal code and all other laws that discriminate against women and violate freedom of speech. The report also urges Baghdad to open independent and impartial investigations […]
Shares in WesternZagros Resources fell more than 7% in early trading on Tuesday, following the release of audit results for its Block K44 in Iraqi Kurdistan. Simon Hatfield, WesternZagros’ Chief Executive Officer, said, “we’re very encouraged by the rising resource estimates for our Block. As well as giving us a clearer picture of the opportunity […]
Iraq's parliament gave the final approval on Sunday to an $82.6 billion budget for 2011, according to Reuters. AKnews puts the Iraqi dinar amount at 96 trillion. The budget is based on an average oil price of $76.50 per barrel, and 2.2 million barrels per day in crude exports. The deficit was projected at $13.4 […]
WorleyParsons has been awarded a contract by BP Iraq NV and its partners PetroChina and the State Oil Marketing Organisation (SOMO) of the Republic of Iraq, to provide conceptual design, front end engineering design, minimum work obligations and integrated project management team services to boost production from the super-giant Rumaila Oil Field in Southern Iraq. […]
Dunia Frontier Consultants have issued a new report entitled Foreign Commercial Activity in Iraq - 2010 Year in Review. According to their research, the total number of reported investments, service contracts, and other commercial activities by foreign firms more than doubled in 2010. The report includes a listing of the 30 biggest foreign investment deals […]
Nabucco Gas Pipeline International may revise its cost estimate for the link to ship Caspian natural gas to Europe if it has to build a connection from the Iraqi border, according to its managing director, Reinhard Mitschek, quoted in the Moscow Times. The Vienna-based company expects to determine the project's cost this year after it […]
