Oil & Gas Law Key to Resolving Issues
Translated from Al-Hayat by Abdel Wahed Tohmeh, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraqi Kurdistan Region Natural Resources Minister Ashti Hawrami (pictured) said that the shares of oil companies operating in the region have exceeded $3.5 billion. He stressed the […]
Turkey’s Doğuş Expands into Iraq
By John Lee. Hurriyet Daily News reports that Doğuş Otomotiv, the automotive arm of Turkey’s Doğuş Holding, has said it has reached an agreement with Volkswagen and Audi to establish a company in Iraq. Doğuş Otomotiv will own 100 percent of the company that will deal with distribution and after-sale services for Volkswagen and Audi […]
Zebari meets Iraq Britain Business Council
On 13th July the Iraq Britain Business Council (IBBC) held its annual conference at Cumberland Lodge near London. The conference was attended by many British businessmen, heads of British companies and some Iraqi businessmen specialized in the fields of energy, infrastructure, health services. The Council, which was founded about four years ago, is managed by Baroness […]
Ahmadinejad to Visit Iraq
By John Lee. Iran's outgoing president, Mahmoud Ahmadinejad, is set to make a two-day visit this week to Iraq, Prime Minister Nouri al-Maliki's spokesman said on Sunday. He is expected to arrive in Baghdad on Thursday to meet with the Prime Minister. According to a report from NCR-Iran, Ahmadinejad's visit to Iraq in 2008 prompted […]
Zubair Oil Contract Revised
By John Lee. Associated Press reports that the Italian oil company Eni has agreed to lower production targets at the Zubair oil field. It has also extending the length of the contract by five years. Eni says that the deal signed on Monday in Baghdad sets a new target at the field of 850,000 barrels […]
Carlyle Group to Consider Investments in Iraq
By John Lee. American-based private equity firm Carlyle Group is reported to be looking for opportunities in Northern Iraq. A report from Dow Jones says the move comes as a result of a new $750m fund that the company hopes to raise to invest in the Middle East and North Africa. The firm, which is […]
Iraq 'Fails to Resume Kirkuk-Ceyhan flows'
By John Lee. Iraq has again failed to restart exports of crude oil via the Kirkuk-Ceyhan pipeline, reports UpstreamOnline. Pumping was suspended since 21st June due to a leak in the Ain al-Jash area, around 290 kilometres northwest of Baghdad. There was a brief restoration of service last week, but flows are again reported to […]
Law to Reform Political Financing is Blocked
By Ali Abel Sadah for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. On July 9, 2013, a source close to Iraqi Parliament Speaker Osama al-Nujaifi (pictured) revealed that the political parties draft law will not be enacted during the current legislative session, due […]
Iraq Offers India Three Oilfields
By John Lee. Iraq has offered three discovered oilfields to India "on a nomination basis" and agreed to renegotiate a contract pending since 2000, reports Telegraph India. Oil Minister M Veerappa Moily told reporters that Iraq offered to give state-owned Indian firms the Kifil, West Kifil and Merjan oilfields in the Middle Furat region in […]
BIOGH Issues First Construction Licence
By John Lee. The Basra Oil and Gas International Free Zone (BIOGH) and its development managers EPGI have issued its first construction license to Basra Mas Company in relation to an initial 10 year construction programme. Works commenced on site on the 9th July with handover to Basra Mas who this week began work on […]
Russia, Iraq to Resume Direct Flights
By John Lee. Prime Minister Nouri al-Maliki has announced that scheduled non-stop flights between Baghdad and Moscow will resume in August. Azzaman reports that the agreement comes amid reports that Iraq is keen to expand its traditional ties with Russia, which was the country’s main supplier of arms, adding that an arms deal, which was […]
AS&E Wins Cargo Inspection Contract
By John Lee. American Science and Engineering, Inc. (AS&E) has announced a $3.5-million order for its cargo inspection systems from Restrata, an Olive Group company, of a major housing project in Baghdad. Restrata is acting as the security partner for the giant Bismaya development, 10 kilometers south of Baghdad. AS&E's cargo X-ray inspection systems will […]