ShaMaran Petroleum (TSX VENTURE:SNM) has announced the start of drilling operations at the Atrush-1 exploration well in the Atrush Block, Kurdistan. The well is being operated by General Exploration Partners ("GEP"), a company jointly owned by ShaMaran (33.5%) and Aspect Energy (66.5%). The Atrush-1 exploration well was spudded on October 5, 2010. The well which […]
Tehran announced that it will host the second 2010 International Iraq Reconstruction Conference on October 30-31. Secretary General of the conference, Jahanbakhsh Sanjabi, said that 700 traders, directors, industrialists and officials from Iran, Turkey, Syria and Iraq will get together in the meeting to consider issues regarding regional free trade. He said the conference is […]
Considering the announcements of new cement plants in Iraq to meet the demands of a booming reconstruction sector, it should not be a surprise that someone would spot the need for more cement bags. Işıklar Ambalaj, a package-producing affiliate of Turkey’s Işıklar Yatırım Holding, has decided to build a cement bag factory in northern Iraq, […]
The Iraqi National Olympic Committee in conjunction with the National Investment Commission (NIC) has announced investment opportunities in the Al Faluja [Fallujah] Tourism City as follows:- 1. Establish a parking area , 10 coffee shops, theater, festival park, shopping malls; 2. 10 small coffee shops, 25 tourist houses (of two rooms and a hall), Luna […]
Dr Ashti Hawrami is Minister for Energy Resources for the KRG (Kurdistan Regional Government) and will be speaking alongside Foreign Office Minister Alistair Burt and Nadhim Zahawi MP at a fringe meeting on October 5th at the Conservative Party annual conference. Iraq’s Kurds have a great and long-standing respect for Britain. In particular, we remember […]
UNESCO has launched a scientific survey of Iraq’s groundwater in an effort to improve the government's ability to address water scarcity in the country. Iraq is currently facing severe water shortages across most parts of the country, with over 7.6 million Iraqis lacking access to safe drinking water, and an agriculture sector suffering from years […]
Two Iraqi economists criticized the Iraqi investment law for supporting foreign investors and sidelining local businessmen, urging the government to amend the law radically. The law opens all sectors and areas of investment to foreign and Iraqi investors, except for oil and gas extraction and production, and banking and insurance. AKnews reports that according to […]
A source in the outgoing Iraqi government has said that International Monetary Fund (IMF) stressed the need for Iraq change its tax system as a condition for granting loans and supporting projects. A member of the Iraqi negotiating team, Fadel Muhammad Sarraj, told AKnews that "the IMF demanded the Iraqi government formally to restructure the […]
Abu Dhabi's Invest AD has launched an Iraq Investment Fund to channel investment into high-growth companies in a country where improving stability and increased oil production should fuel strong economic expansion in coming years. Invest AD is seeding the fund and is marketing it alongside its other equities and private equity funds that invest in […]
Iraq's crude oil exports rose in September to 2.021 million barrels per day from 1.789 million bpd the previous month, Reuters has reported. Falah al-Amri, the head of Iraq's State Oil Marketing Organisation (SOMO), said average exports from the southern oil hub of Basra reached 1.508 million bpd, while exports from oilfields in the north […]
Iraq has raised the level of the oil reserves it claims to own by 24% in its first revision since the change of regime in 2003. The country has 143.1bn barrels of known and extractible oil, up from the 115bn barrels previously estimated. If correct, the revision means that Iraq now has bigger oil reserves […]
Nouri al-Maliki has made progress in his bid to retain power, having secured the backing of the main Shi'ite parliamentary bloc for his re-nomination for the post of Prime Minister. He notably received support from the self-exiled, hard-line cleric Moqtada al-Sadr, leading to increased concerns amongst the Sunni population. Al-Maliki still requires the support of […]
