Iraq to Assemble Iranian Cars
By John Lee. Iranian carmaker Iran Khodro (IKCO) is to open a 30,000-units-per-year assembly line in Iskandariya [Alexandria], south of Baghdad, by the next month. Iran Khodro deputy director for exports, Abdol’azim Sa’dian, told IRNA that the preliminary agreements were made three years ago, and Iran Khodro has been exporting its products to Iraq for about […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 23th May 2013). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,793 (+1.2%) / $1,852 (+2.9%) (weekly change). The number of week traded shares was 36.9bn and the weekly […]
Basra Execs Visit Texas
The Bilateral US-Arab Chamber of Commerce announced that it hosted a business-to-business networking luncheon this week for visiting private sector executives from Basrah, Iraq, who are seeking to establish US partnerships, identify suppliers, and strengthen trade relationships to help with Iraq’s rebuilding efforts. The event is part of the Chamber’s CEO Insight Series, held in […]
Iraq's Yazidis in Crossfire In Baghdad
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 the evening of May 14, 2013, dozens of people had gathered in front of a small shop in Baghdad to buy alcohol. Rabie Square — a vital commercial center in […]
Private Generators get Fuel During Ramadan
By John Lee. Iraq's Council of Ministers has ruled that the Ministry of Oil is to supply the owners of private electricity generators with fuel from 1st June to 30th September. Owners will receive 30 litres of gasoil per KVA of generator capacity each month. (Source: AIN)
Alstom Starts Work on $450m Power Plant
By John Lee. Azzaman reports that French company Alstom has started work on a new power plant in Diyala. The 730 megawatts plant will be one of he largest in the country, and is being built at a cost of $450 million. Electricity Minister Abdulkarim Aftan, accompanied by representatives from Alston, laid the foundation stone […]
Tenders Expected for 150 Wells at Rumaila
By John Lee. The head of the joint management committee at the giant Rumaila oilfield has told Reuters that BP will issue tenders for the drilling of 150 new oil wells in the second half of this year. Salah Mohammad said there would be three tenders of 50 wells each, and added that 300 wells […]
Piers, Dredging Opportunity at Umm Qasr
Solicitation Number: W912ER-13-R-0050 Agency: Department of the Army Office: U.S. Army Corps of Engineers Location: USACE Middle East District Solicitation Number: W912ER-13-R-0050 Notice Type: Presolicitation The U.S. Army Corps of Engineer (USACE) Middle East District intends to solicit names of construction firms experienced in working in the Middle East region who are interested in submitting […]
Basra Becomes Battleground For Iraqi Politics
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 results of the Iraqi provincial elections held April 20 initiated a new political balance between the main Shiite powers in Iraq’s south, particularly in Basra. These powers are the State […]
DNO Hits 100,000 bpd Milestone at Tawke
DNO International ASA, the Norwegian oil and gas company, announced today that oil production from the Tawke field in the Kurdistan Region of Iraq has averaged over 100,000 barrels a day during the previous 72 hours as the Company conducts well and pipeline deliverability tests following its 2012 drilling program and facilities upgrades. "We are […]
WesternZagros Q1 Results and Updates
WesternZagros Resources announced today its operating and financial results for the first quarter ended March 31, 2013, and additional key highlights and activities to date. Commenting on the first quarter results and subsequent events, WesternZagros's Chief Executive Officer, Simon Hatfield (pictured) said, "Our twin goals of increasing proven resources and production potential are our main […]
Former Vice President Slams Iraq's Economic Policy
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. Adil Abdul-Mahdi, the former Iraqi vice president who resigned from his post, vehemently criticized Iraq’s economic policy, describing it as a failure. Abdul-Mahdi warned that tampering with the balances of nature […]