Iraq and Kuwait are expected to reach an agreement soon setting guidelines for investing in oilfields which cross their desert border, The Kuwaiti Al Jarida daily reported on Monday, according to Reuters When Iraq invaded its Gulf Arab neighbour 20 years ago, Iraq accused Kuwait of stealing billions of dollars worth of oil from these […]
The director of Iraqi Ports announced on Monday that 120 companies would participate in the development of Iraq's ports, indicating that most of the berths will be offered on the basis of joint operation contracts between Ministry of Transport and global companies. It's expected that 120 companies, including Mazda, Siemens, Volkswagen and Audi, will invest […]
Following last week's announcement that Iraq will import gas from Iran, the country's senior deputy oil minister confirmed on Monday that it has tol Iran that it is ready to allow the transit of Iranian natural gas destined for Syria and Mediterranean countries. Kareem Al Luaby gave the confirmation to Dow Jones Newswires by telephone […]
Shares in Gulf Keystone rose 15% on Tuesday, following a 're-organisation of interests' in Iraqi Kurdistan - rumours also continue to circulate regarding a possible bid for the company from China. Gulf Keystone confirms that certain Production Sharing Contract ("PSC") amendments were approved and executed by the Kurdistan Regional Government (KRG) and all the other […]
Shares in WesternZagros Resources were up 4% in early trading, following an update on it's operations in Iraqi Kurdistan. The company reports that it has recovered an additional 1655 metres of drill string at the Kurdamir-1 well, with approximately 800 metres remaining in the well bore. The current operations have proven to take longer than […]
Iraq Business News is always delighted to bring you the latest exciting new developments from Iraq, and it's refreshing to see that the country's building boom is being carefully planned and tastefully designed. Many new architectural projects in Iraq can be credited to Dewan Architects & Engineers, founded by Iraqi-born Mohamed Al Assam in 1984. […]
JOINT BASE BALAD, Iraq - In 2007, a Soldier in Talil came up with a simple idea to foster relations between the United States military and Iraq - provide desperately needed engineering textbooks to a local Iraqi university. Working through connections with his alma mater, Oregon State University, then-Captain Joshua Mater, who was a Civil […]
BPS Drilling has plans to open its operational office in the City of Erbil, located in the Kurdish Region of Iraq. BPS will open an operational office in the capital city of Erbil along with secure storage space to support its drilling operations. The company plans to include a full well test/early production facility as […]
Sterling Energy, the AIM listed independent oil & gas, exploration & production company with interests in the Middle East and Africa, has given an update on its activities at the Sangaw North exploration well, in Iraqi Kurdistan: Operations at the Sangaw North #1 exploration well have been halted following a failure of drilling rig equipment. […]
Associated Press reports that federal securities regulators are settling civil charges against two executives charged with bribing Iraqi officials for contracts to supply an oil processing chemical made by their company. The Securities and Exchange Commission says David Turner and Ousama Naaman will pay $1.35 million. It says they funneled $9.2 million to Iraqi and […]
A delegation from the U.S. Chamber of Commerce (USCC) arrived in Basra on Sunday to discuss investment projects and U.S. companies’ involvement with the province, according Max Haivanis, Senior Manager Middle Eastern Affairs. “A visit by USCC representatives to Basra is meant to set the stage for U.S. firms’ entry into business projects in the […]
An additional 13 agricultural silos are to be build in the Kurdistan Region by the end of 2013, lifting the storage capacity up to one million tons, said an official source on Sunday, as reported by AKnews. Before Saddam Hussein’s fall in 2003, there were two silos in the region with a storage capacity of […]
