Talisman Testing Kurdamir-3 Well
A unit of Talisman Energy Inc., Calgary, has begun a cased-hole test program of the Oligocene reservoir at the Kurdamir-3 well on the Kurdamir block in the Kurdistan Region of Iraq. Talisman (Block K44) BV drilled the well to 2,895 m about 5 km southwest and downdip of the Kurdamir-2 well in what the block […]
Officials Divided Over Dinar 'Reset'
By Omar al-Shaher for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Two Iraqi parliamentary committees monitoring fiscal policy in Iraq have held two contradictory positions on the Iraqi currency “reset” project, which would delete three zeros from the currency. There has been […]
KRG Receives New US Consul General
The new US Consul General in the Kurdistan Region, Mr Joseph Pennington, met with the KRG's Head of Foreign Relations Minister Falah Mustafa as part of his introductory meetings. He was accompanied by the outgoing Consul General, Mr Paul Sutphin, and the Head of Political/Economic Section at the US Consulate General in Erbil, Mr Stephen […]
Diyala to Build 8 Bridges
By John Lee. The local government in Diyala has announced the start of construction on a 1.5 billion Iraqi dinar ($1.29 million) project to build eight pedestrian bridges, reports al-Shorfa. The bridges, located in Baqubah, al-Meqdadiya and al-Khalis, are being built to facilitate movement and prevent accidents. Local companies are overseeing the project, which is […]
Maliki, Barzani "Close to Solving Oil Dispute"
By Omar al-Shaher for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. MPs from the ruling State of Law Coalition and the Kurdistan Alliance confirmed the presence of positive vibes between the federal government in Baghdad and the Kurdistan Regional Government (KRG) in […]
ABB Wins $30 Power Grid Order
ABB has won an order worth around $30 million from Zagros Energy to build four new transmission and distribution substations in the Kurdistan region of Iraq, as part of an overall initiative to expand and strengthen the regional power grid. The order was booked in the second quarter. Demand for reliable power is growing at […]
Iraq Requests UNAMI Extension
By John Lee. Iraq has officially requested the UN Security Council to extend the term of UNAMI in Iraq for another year, reports Aswat al-Iraq. The request was submitted by Iraqi ambassador Mohammed Ali al-Hakeem to the United Nations. He requested that UNAMI will have logistic assistance to provide adequate observers for the coming parliamentary […]
Korek Upgrades Network in Southern Iraq
Korek Telecom customers in southern Iraq will soon experience high-speed mobile broadband and better voice call services with improved coverage. For this, Korek Telecom, a leading telecom operator in Iraq, has selected Nokia Siemens Networks to deploy its advanced radio, microwave transmission and packet core network elements, using its comprehensive services. The operator has also […]
Weekly Security Update 09 - 16 July 2013
By Tom Walker, Director, Assaye Risk COUNTRY OVERVIEW In line with developments last week violence has intensified in Iraq this week with the resumption of multiple high impact attacks across the country, especially in the southern predominantly Shia provinces around Basra who bore the brunt of the violence toward the latter part of the reporting […]
Iraq at a Crossroads
At the end of this month, Martin Kobler will finish his two-year term as United Nations Secretary-General Ban Ki-moon’s Special Representative for Iraq, and Head of the United Nations Assistance Mission for Iraq (UNAMI). While his tenure has not been without controversy -- he has, for example, been strongly criticised by some for his handling of […]
Public Holiday Declared due to Heatwave
By John Lee. The Iraqi Government has announced that Thursday 18th July will be a public holiday due to the high temperatures. As a result, the Iraq Stock Exchange (ISX) will be closed. The next session will be held on Sunday (21st July). (Source: Rabee Securities)
Mass Global Selects GE Turbines for Erbil
By John Lee. Mass Global Investment Company has selected GE steam turbine technology to increase the efficiency and the output of the Erbil Power Plant in Iraq's Kurdistan region. In operation since late 2008, the Erbil plant plays a vital role in meeting the growing power needs of Kurdistan, Iraq. Under the new agreement, GE […]