Iraq to End Thai Rice Ban
By John Lee. Iraq has lifted a ban on the importation of rice from Thailand. The ban was imposed on private exporters in August due to quality concerns, but the Thai government has continuously defended the quality of its rice. The Iraqi government had already stopped purchasing rice directly from its Thai counterpart three years […]
ADIB Plans Iraq Expansion
By John Lee. The Abu Dhabi Islamic Bank (ADIB) is the latest bank to expand business in Iraq, according to a report from The National. Currently the only UAE lender to operate in Iraq, ADIB plans to open a branch in Basra before the end of the year after it opened a branch in Erbil […]
$46bn-Worth of Projects Boosts Kurdistan Region
MEED’s Kurdistan Projects conference 2014 shows why the region, long seen as a platform for doing business elsewhere in Iraq, has now become a hotspot for investments. The Kurdistan Region of Iraq has long been considered as a business friendly environment for foreign companies and a gateway for doing business elsewhere in the country. But […]
French Firm to build mini Eiffel Tower
By John Lee. A French company is planning to build a replica of the Eiffel Tower in Sulaymaniyah. But according to reports from Zawya, the structure will be a mere three storeys high. The project will include shops selling French products, and will feature laser lights showing the flags of Kurdistan and France. The name […]
Technip Wins FEED Contract at Rumaila
Technip, in partnership with China HuanQiu Contracting & Engineering Corporation (HQC), has been awarded a front-end engineering design (FEED) contract for the Ar Ratawi Natural Gas Liquids (NGL) train1 project at North Rumaila in Basra. The deal was awarded by the Basra Gas Company (BGC), a joint venture between the Iraq's South Gas Company (51%), […]
LUKOIL begins Seismic Survey at Block 10
LUKOIL has started a 2D seismic survey at Block 10 in the south of Iraq. 2000 linear kilometers of seismic surveys will be completed by the BGP Inc. geophysical company within 16 months. The Mandatory Geologic Exploration Program at Block 10 is scheduled to take five years with a potential 2-year extension and includes drilling […]
Luaibi sees Kurd Oil Export Deal Soon
By John Lee. Iraqi oil minister Abdul Kareem al-Luaibi [Elaibi] (pictured) has said that parliament set up a high-level delegation several days ago to resolve the oil export dispute between Baghdad and Erbil, and he expects a deal to be reached within days. According to Reuters, Ankara is awaiting Iraq's blessing before allowing exports to […]
Iraq Renews Podesta's $1m PR Contract
By John Lee. The Government of Iraq has reportedly renewed its one-year $960,000 PR contract with Podesta Group to "promote a better understanding with the US of its priorities and concerns". The work, which runs through 2014, is designed to “further the purposes of the Strategic Framework Agreement” and facilitate a dialog with the American […]
An Eventful Week in Iraqi Business
It is surely significant for global oil supplies that within the past two weeks, two of the largest Iraqi oil fields have started production: Lukoil commenced pumping at West Qurna 2 at the end of March, while Shell exported its first crude from Majnoon this week. As a result, oil production is set to rise […]
Iraq to Buy Czech Fighter Jets
By John Lee. Czech aviation company Aero Vodochody has reportedly agreed to sell 12 L-159 subsonic fighter jets to Iraq, but the package must still be approved by the governments of both countries. Martin Danko, the broker for the deal, refused to reveal the price. According to Associated Press, Iraq had initially agreed to buy […]
GSK Investigates Alleged Improper Conduct in Iraq
By John Lee. Bloomberg reports that GlaxoSmithKline (GSK) is investigating allegations of improper conduct in Iraq. The company said: “These allegations relate to a small number of individuals. However, we are investigating whether there has been any improper conduct. We have zero tolerance for unethical or illegal behavior.” The Wall Street Journal reported that Glaxo […]
3x Chevening Scholarship Places for 2015/16
By John Lee. The United Kingdom Budget announced on 19th March included a tripling of Chevening places in developing countries for the 2015-16 academic year. Chevening Scholarships are the Foreign and Commonwealth Office’s flagship global scholarship programme aimed at future leaders, influencers and decision-makers. An FCO spokesperson said: "Chevening Scholarships are an important element in […]