Australian Oil-for-Food Case Dropped
By John Lee. The Australian Securities and Investments Commission (ASIC) has today discontinued its proceedings in the Supreme Court of Victoria against Charles Stott and Michael Long for alleged breaches of their duties as officers of AWB Limited -- formerly the Australian Wheat Board -- in connection with the United Nations Oil for Food Programme in […]
KRG Outlines Oil Resources at Energy Forum
KRG Representative to Poland outlines Kurdistan’s oil resources at 8th Energy Forum Ziyad Raoof, the Kurdistan Regional Government Representative to Poland, highlighted Kurdistan’s oil and gas potential at the 8th Energy Forum, a landmark annual international conference. The Energy Forum is the biggest conference in Poland and one of the biggest in Europe devoted to […]
Govt OKs Kuipers $256m Ship Order
The Iraqi government has reportedly approved a $256-million submission from Dutch shipbuilder Kuipers to supply it with eight cargo ships. The eight vessels, comprising three 55,000 dwt bulkers, three 1,200 teu container carriers, and two 18,000 dwt multi-purpose vessels, are due for delivery two years from the date of signature of a final contract. According […]
Korean Firm to build Petrochem Plant
South Korea's Hanwha Chemical Corporation has announced that it has signed a letter of intent (LOI) to build a petrochemical plant in Iraq. South Korean news agency Yonhap reports that the LOI was signed in Seoul by the president of Hanwha Chemical, Bang Han-hong (pictured), and Iraq’s Deputy Minister of Industry, Mohammad Zain. Hanwha will build […]
Iraq Bond Issue Shelved Again
The recent surge in sectarian violence has sent Iraq's bond yields higher, prompting officials to postpone a planned debt sale. Deputy Finance Minister Fadhel Nabi told Bloomberg: “We will definitely issue new bonds, but it will take more time now with all the problems in the country.” The news agency also reports that the yield […]
Lebanese Firm Wins Water Treatment Contract
A contract has been signed between the Lebanese company ViecoEast and Iraq's Al Fajr for waste water treatment plants. Delivery starts in January 2014. Vidoe of the signing can be viewed below: (Source: ViecoEast)
World Bank Approves $335m Road Fund
From The World Bank. A new project will reduce traffic fatalities by nearly 25 percent on two transport corridors connecting Iraq to its northern, southern and western neighbors and beyond. The US$355 million Iraq Transport Corridors Project, approved by the World Bank Board of Directors on Thursday, will improve road quality and safety and promote […]
More Iraq Business for Bell Helicopters
The US Army has issued an $18.5-million contract to Texas-based Bell Helicopter Textron to supply an additional six months of contractor logistics support for the Bell 407 (pictured), UH-1 Huey, 206 JetRanger and OH-58 (A and C models) in Al Taji, Iraq. Work will take place in Iraq and at Piney Flats, Tenn., with a […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 19th December 2013). Note: ISX will be closed during December 27, 2013 - January 6, 2014 due to the end-of-year closing operations. The last session of this year will be on Thursday, December 26, 2013 and trading will resume on Tuesday, January 7, […]
US Congratulates Iraq on Social Safety Net
The U.S. Embassy in Baghdad congratulates the Government of Iraq (GOI) on its launch of the Social Safety Net (SSN) program. The Social Safety Net helps ensure that unemployed and disabled Iraqi citizens have access to sufficient financial aid and benefits from the government. Many vulnerable Iraqis will benefit from this important system. The U.S. […]
Video: Overview of Iraq's Social Safety Net
From USAID/Tarabot. This video provides an overview of the historic accomplishment of the Iraqi government and those who support them - the rollout of the country's first social safety net. The video features interviews from both project staff and members of the Iraqi government, such as Nassar al-Rubaie, Iraq's Minister of Labor and Social Affairs:
Min. of Oil Statement on Maysan Refinery
Following the recent article by our Expert Blogger, Ahmed Mousa Jiyad, Iraq's Ministry of Oil has issued a statement regarding Satarem's involvement with the Missan [Maysan] refinery project. The statement is carried here in full and unedited: Commenting about the news that was declared by the media, press & some websites about the memorandum of […]