The Kurdistan Regional Government's (KRG) Minister of Natural Resources, Ashti Hawrami, has welcomed Marathon Oil Corporation's entry into the Kurdistan Region oil and gas sector, saying that such an experienced company will be “a valuable partner in developing the resources of our Region to the maximum benefit of the people of Kurdistan and Iraq, in […]
The International Organization for Migration (IOM) Iraq Mission has signed an agreement with the United Nations Office for Project Services (UNOPS) to set up a project to support local private and semi-private Business Development Service (BDS) providers in the Governorates of Anbar, Basrah and Erbil. The project aims to develop sustainable business models and engage […]
The head of the National Investment Commission, Sami al-Araji, has said that the main obstacle standing in the way of attracting the foreign investment is the ownership of the land on which the projects will be carried out. He said that the Commission worked to overcome these obstacles but the ownership of the land and […]
Iraq has awarded three of its established gas fields to foreign consortia in the third stage of an energy sell-off, as the country races to supply gas to local power plants and to export markets. The three fields, in the south, centre and far west of Iraq were sold at or slightly below the price […]
According to media reports, Iraq's Central Bank said on Tuesday that the decision to remove the three zeros from the Iraqi currency would require consultation with the next government. Quoting a consultant refered to as Mohammed Saleh, the report says that deleting three zeros from the currency would negatively affect Iraqi citizens, but would facilitate […]
Iraq plans to spend around $680 million in 2011 to renovate its dilapidated factories and start new projects, a senior Industry and Minerals Ministry official told Reuters on Monday. Haifa Hamid, head of the investment department in the ministry, said the economic reform plan was focused mainly on renovating existing factories or establishing new ones […]
Marathon Oil Corporation (NYSE: MRO) announced on Wednesday that it has acquired a position in four exploration blocks in the Kurdistan Region of Iraq. The Company has signed production sharing contracts (PSCs) for operatorship and an 80 percent ownership in two open blocks northeast of Erbil - Harir and Safen. The Kurdistan Regional Government will […]
As Iraq reports the results of its recent gas auctions, the western province of Anbar is demanding more control over its potentially huge energy reserves, including the vast desert province’s Akkas reservoir. According to Reuters, Anbar’s government last week rejected Baghdad’s plan for the auction due to the possibility that surplus gas will be exported. […]
"Iraq is ... getting back on track and it's a country that cannot be allowed not to succeed." So said a top executive at Abu Dhabi-owned asset management firm Invest AD said on Monday. Speaking at the Reuters Middle East Investment Summit, Mohammed al Hashemi said Invest AD was still putting its Iraqi portfolio together, […]
The Arab Advisors Group analyzed the ADSL rates in nineteen Arab countries. Iraq and Lebanon have the highest ADSL fees, while Morocco and Egypt have the lowest fees. When rates are analyzed in relation to GDP per capita in each country, the GCC countries and Morocco lead the pack. ADSL remains the prevailing Internet broadband technology in […]
Iraq Mega Projects 2010 is Pleased to Announce the Representation of All Contract Winners in Istanbul Since the Second Oil Licensing Rounds Now that the contracts have been awarded, Iraq Mega Projects 2010 Conference & Exhibition, taking place in Istanbul, Turkey, on 26-28 October, will fully examine how to fulfil the projects and unleash their […]
The Wassit Investment Commission (WIC) has granted an investment licence in the health sector worth more than 6 billion dinars [$5m], chairman of the WIC said on Tuesday. “The licence was given to an Iraqi investor to establish a hospital in Kut, which will include 100 beds and five surgery rooms with modern equipment,” Sadeq […]
