Warka Bank issued a statement on Wednesday refuting the rumours (click here for more details) that it was in financial difficulty: Dear Warka Clients, With regard to the rumors that have been circulating against our bank by ill competitors please note that our bank is well supervised and monitored by the highest financial authority in […]
Dr Sami al Araji, the chairman of Iraq's National Investment Commission, has said that Abu Dhabi-based developers have closed deals worth $66bn [79 trillion Iraqi dinars] for housing projects in Iraq. The companies involved are Bloom Properties and Al Maabar. Bloom Properties' projects include a $30bn development in Karbala, and $15bn to provide 300,000 dwellings […]
Interview with the Chairman of the Advisory Committee to the Prime Minister, and Former Oil Minister, His Excellency Thamir Al Ghadhban. Reproduced with permission from The Energy Exchange, whose Iraq Future Energy 2010 conference runs from 27-28 September 2010 at the Point Hotel Barbaros, Istanbul, Turkey. With over 35 years direct and hands on experience […]
Eleven projects worth 21 billion Iraqi dinars (roughly $17.8 million) were approved for implementation next year in al-Hindiya district, eastern Karbala, according to Hindiya's Mayor. “The local administration gave the thumbs up to 11 projects as part of the Provincial Development Budget (PDB) in al-Hindiya, (20 km) east of the city of Karbala, for implementation […]
Romanian natural gas producer Romgaz is interested in petroleum resources in the autonomous region of Kurdistan, in northern Iraq. But according to the report from Financiarul, the Romanian news agency, any investment will depend to a great extent on the “very delicate” political situation in this region, deputy general manager Francisc Toth (pictured) said in […]
By Bayan Sami Abdul Rahman, Kurdistan Regional Government High Representative to the UK The Lib Dems are proud of their internationalism. It was one thing to oppose the intervention in Iraq and to continue as mistakes after the fall of Saddam were laid bare, but Iraqis like myself are keen to see your party develop […]
Gulf Keystone Petroleum provided an update on its operations in the Kurdistan Region of Iraq this morning. The shares are down 3% in early trading, but have more than doubled in the past three months, partly on rumours of a take-over. Shaikan Long Term Test Facilities The recently constructed production test facilities near the location […]
We reported on Saturday that Iraq's Transportation Ministry has bought 66 ships from 'an international company'. Further investigation shows that the ships will be leased for a 5-year period from the Swiss company Global Refinery. The Swiss firm will also provide extensive training for the Iraqi workforce, including specialized programs for technicians and engineers. "There […]
Basrah is central to the biggest oil and gas projects that will be taking part in Iraq over years to come and in order for contracts to go ahead, approval and consent is needed from the local authorities for projects to commence. Iraq Mega Projects 2010 Conference & Exhibition, taking place in Istanbul, Turkey, on […]
Speculation is rife that Iraq’s Warka Bank has collapsed, but its managing director said that it has not collapsed but has faced problems due to a recent decision of the Iraqi government to withdraw over $1.6 billion from the bank. Our resident blogger on economic issues, Mark DeWeaver, recently reported on the mysteries of Warka's rights issue. […]
Lukoil and partners, Statoil and the Iraqi state, have issued four new tenders for construction and energy projects at Iraq’s West Qurna 2 oilfield, according to reports from Reuters. The tenders are for the construction of: an oil export pipeline; a tank farm at Tuba; a power distribution station and an associated gas processing plant; […]
Britain's Sunday Telegraph understands that the Iraq-focused oil explorer Gulf Keystone (LSE: GKP) intends to move its listing from London's junior 'AIM' market to the main London Stock Exchange (LSE). With a market capitalisation of over £700m ($1.1bn) it has grown much larger than the market's usual members. A move to the LSE's Official List, […]
