Chinese Delegation Negotiates Projects in Karbala

A Chinese delegation has visited the Shiite city of Karbala, and expressed its readiness to conduct several projects there, Karbala’s first deputy governor said on Thursday. “The delegation, led by a Chinese businesswoman who owns a number of industrial companies, has finished its visit to Karbala,” Abbas al-Moussawi told Aswat al-Iraq news agency. The delegates […]

Zubair Deal Kicks in

Thursday 18th February was the effective date of the deal to develop the 4 billion barrel Zubair oilfield, west of Basra, according to a report from Reuters. The consortium that won the deal, consisting of Italian company Eni, US’s Occidental, and South Korea’s Kogas, is due to pay the $300 million signature bonus within 30 […]

Crude Diplomacy – Iraq, Iran, and the Politics of Oil

The Economist reports that Chinese oil companies are shifting their focus from Iran to Iraq, as Iraq attracts the latest technology to increase its oil production. “Iraq will have to pull off an unprecedented feat. In the history of the modern oil industry, no country has increased output with the speed the Iraqis envisage. Over […]

Kurdistan Attracts $12 Billion Investment

According to a report from Reuters, Iraqi Kurdistan’s investment body says the region has attracted more than 12 billion US dollars from local and foreign investors in non-oil sectors over the last three-and-a-half years, mainly in housing. Of this $12 billion, $3.1 billion was from foreign sources, and this would been higher had a $6 […]

German Firms to Build Low-cost Housing in Baghdad

A number of German companies presented a proposal to build low-cost housing units in Baghdad, the Investment Commission of Baghdad said on Wednesday. The proposal was made during an investment conference held between German and Iraqi businesses. The Chairman of the Commission stressed the need for more investment in residential developments. (Sources: Aswat Al Iraq, […]

Engineers Arrested As School Collapses

Three engineers were arrested on Tuesday after the collapse of a school in the south of Sulaimaniya, a judicial source said. “The three engineers are responsible for the establishment of the school, which collapsed on Monday (Feb. 15) in central Klara district in south of Sulaimaniya, during which seven workers were wounded,” the source told […]

Mobile Financial Services for Iraq

In an important first for the Iraqi market, Asiacell – the largest private Iraqi company and the first and only mobile telecommunications company to provide coverage for all of Iraq – today announced a major strategic partnership with AMWAL, a consortium of Iraqi banks. Under the terms of the agreement, Asiacell, part of The Qtel […]

UAE Top Investor in Iraq’s Kurdistan

The UAE is the leading investor in Iraq’s Kurdistan region and has registered a 28 per cent increase in investment inflows in the period 2006 to 2008, according to the Minister of Foreign Trade. Speaking at a forum called “Investment in Iraq’s Kurdistan” Sheikha Lubna Al Qasimi, UAE Minister of Foreign Trade, said yesterday that […]

Iraqi Oil Production: Industry Hopes To Profit From Increased Iraqi Output

Oil industry leaders believe Iraq’s resurgence as a major producer will change the face of the world’s energy market, but they warn that the country – and the Middle East generally – still needs to improve infrastructure, security and export paths. At the annual International Petroleum Week conference in London, energy executives and analysts said […]

Indian Company Considers Investment in Basra

Aswat Al Iraq reports that an Indian contracting company met with officials from the Basra Investment Commission on Tuesday to discuss possible ventures in the area. “The company has put forward several investment projects in the fields of housing, oil and agriculture to be implemented in the province,” the Commission told Aswat al-Iraq news agency. […]