Oil Storage Contract Awarded to CPP
By Patrick M Schmidt. The Ministry of Oil has approved a contract worth $607 million (708 billion Iraqi dinar) with China Petroleum Pipeline (CPP). The company will now be able to begin construction on an oil storage facility to accommodate future development projects at the Nassiriya oilfield. The field currently produces 40,000 barrels of oil […]
Versar Wins $10.7m Iraq Contract
Versar Inc. has announced that it was awarded an Iraq Personal Services II contract from the U.S. Army Corps of Engineers (USACE), with a maximum contract value of $10.69 million (12.5 billion Iraqi dinars). The firm fixed price IDIQ contract is a single award with a three-year period of performance consisting of a base year […]
ShaMaran Petroleum Drilling Update
ShaMaran Petroleum has provided an operational update on the Atrush development in the Kurdistan Region of Iraq. The Chiya Khere ("CK-5") development well was spudded on May 16, 2014 using the DQE31 drilling rig and reached Total Depth of 2098 metres Measured Depth (1744 metres True Vertical Depth) in the Butmah formation on June 28, […]
Stock Exchange to Close for Eid
By John Lee. The Iraq Stock Exchange (ISE) has announced that Thursday, 24th July, is the last trading session before the Eid al-Fitr holiday. The first trading session after returning from the Eid holiday will be on Sunday, 3rd August. (Source: )
For the First Time, a Large Field of Presidential Candidates
The following article was published by Reidar Visser, an historian of Iraq educated at the University of Oxford. It is reproduced here with the author’s permission. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Following positive developments in the Iraqi parliament and the election of a speaker before […]
CBI Currency Auction Results, 23rd July
By John Lee. The Central Bank of Iraq (CBI) has reported that 17 banks took part in its currency auction on Wednesday. A total of $237,207,000 was sold at a price of 1166 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Weekly Security Update, 15 - 21July 2014
By Anne-Laure Barbosa at Constellis Consulting Violence across Iraq’s northern and central provinces remained at a similar intensity to the previous reporting period and only Kirkuk experienced a significant increase in the number of attacks. Fatalities fell, but 318 people were killed and over 500 injured as a result of the ongoing violence. According to UN […]
Resumption of Cargo Flights to Kurdistan
By Patrick M Schmidt. International cargo flights to Kurdistan were set to resume today (Tuesday) following an announcement by the central government this month in reaction to the KRGs move for independence. The resumption of flights will impact a number of Turkish, Qatari, and Emirati airlines that operate out of the KRGs two main airports […]
Drones to Protect Iraqi Oil Infrastructure
By Patrick M Schmidt. During a tour of Rumaila oil field, the Iraqi Minister of Oil, Abdul Kareem al-Luaibi [Elaibi] , announced that two unmanned drones would begin flying over the vital oil infrastructure in the south of Iraq. His announcement marks the first time that drones have been used to protect energy interests. The […]
Sterling Global uses Micro MineWolf in Kurdistan
Sterling Global Operations puts first Micro MineWolf tracked armored vehicle into use in Kurdistan Sterling Global Operations (SGO) is operating the first Micro MineWolf (MW50) anti-mine armored tracked vehicle – designed for use in mountainous and other hard-to-access locations – in Kurdistan as part of SGO’s work supporting oil and natural gas exploration, demining projects, […]
Iraqi Crisis Highlights Need for Dialogue
By Mustafa al-Kadhimi for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. After 10 years of difficulty in managing political and security crises, Iraq is in need of a new vision for the concept of political dialogue. The management of dialogue is not only […]
Najaf, Qom take Different Approaches in Iraq
By Ali Mamouri for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Najaf and Qom have taken two different approaches in dealing with general political affairs in Shiite communities since the introduction of the idea of velayat-e faqih. Although this idea was put forward […]