Scottish Firm Wins West Qurna Contract
By John Lee. Energy-focused health and safety specialist Cresent has become the largest Control of Work (CoW) provider in Iraq after winning a contract worth $1.7 million with Russian oil company, LUKOIL Mid-East Ltd. The contract will involve Aberdeen-based Cresent delivering an electronic version of its flagship CoW system WorkSafe® across the second phase of […]
Iran Looks to Iraq for Syria Support
By Mushreq Abbas for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The Sept. 8 visit by Iranian Foreign Minister Mohammad Javad Zarif to Iraq caught the media's attention, but that of Qassem Soleimani, commander of the Iranian Revolutionary Guards Quds Force, in […]
Iraqi Youth – Key Statistics And Resources
A range of studies and surveys reveal that Iraqi youth face many challenges. The United Nations Population Fund (UNFPA), together with the Government of Iraq, conducted a National Youth Survey in 2009 that provided the first comprehensive insight into the reality of being a young person in today’s Iraq. The United Nations, the Central Organization […]
L-3 Link Wins F-16 Training Contract
By John Lee. L-3 Link, a division of L-3 Communications, announced today that it has been awarded a contract modification from the U.S. Air Force Life Cycle Management Center to build the Iraqi Air Force two F-16 Block 52 Weapon Tactics Trainers (WTTs). According to a report from Defense World, this contract modification follows L-3 Link’s […]
Record Wheat Crop, but Imports Still Needed
By John Schnittker, Chief Economist at Schnittker Associates, and former Ministry Advisor at the US Embassy in Baghdad. Iraq’s first tender to purchase wheat on the international market since mid-May 2013 reflects that despite a record wheat crop Iraq remains a major importer of wheat and flour products. Iraq’s 2013 wheat crop of nearly 4.0 […]
Occidental Offers Stake in Mideast Unit
Occidental Petroleum has reportedly begun trying to sell a minority stake in its Middle East unit for as much as $8 billion. According to a report from Bloomberg, Chief Executive Officer Stephen Chazen (pictured) has held talks with sovereign wealth funds and possible strategic partners for a 40 percent stake in the Mideast business, whose […]
Oil Output Reduced by Leak
By John Lee. A pipeline leak has restricted oil flow to Iraq's southern export terminals, according to Reuters. A rate of 1.58 million barrels per day was being achieved on Tuesday, compared to an export rate of 2.3 million bpd in August. Output from Rumaila has been cut due to the leak, while two berths […]
Work Starts on Iraq's 'Biggest Industrial City'
By John Lee. The governor of Kirkuk, Najm al-Din Kareem, has laid the cornerstone of what is claimed to be the biggest industrial city in Iraq. The $250-million project is scheduled to be completed within two years. (Source: Aswat al-Iraq)
Video: Attacks kill Dozens
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. At least 35 people have been killed and nearly a hundred more wounded in a wave of attacks across Iraq, while the head of Baghdad's provincial council escaped an assassination attempt in the […]
DNO Updates on Tawke Testing
DNO International announced today that it has commenced extensive testing of the Tawke-23 exploration well in the Kurdistan region of Iraq. The well is the second horizontal well drilled by the Company in the Tawke field and has encountered continuous oil shows within a 930 metre horizontal section in the main Cretaceous reservoir. The test […]
Bloom Signs Contract for "City of the Future"
Under the patronage and presence of Nouri Al Maliki, Prime Minister of Iraq, Bloom Properties, the property development and real estate arm of National Holding, has signed a contract with the Iraqi National Investment Commission for the development of 50% of the "City of the Future - Madinat Al Mustaqbal" in Baghdad. The approximately 2.5 […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 12th September 2013). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,697 (-2.6%) / $1,829 (-2.3%) (weekly change). The number of week traded shares was 4.1bn and the weekly […]