$4bn Russian Arms Deal to Go Ahead
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. The Iraqi government is awaiting the parliament’s approval of the 2013 federal budget to pay Russia the money owed for the weapons deal. Meanwhile, Iraqi and Russian officials have confirmed that […]
Genel Energy Full Year Results
Genel Energy plc has announced its preliminary audited results for the year ended 31 December 2012. Highlights Consolidated our position as the leading independent oil and gas producer in the increasingly attractive Kurdistan Region Current production capacity of circa 80,000 bopd (net), with 2012 average net working interest production of 44,500 bopd in line with […]
US and Health Ministry to Improve Healthcare
The U.S. Embassy, through the U.S. Agency for International Development (USAID) and the Iraqi Ministry of Health, hosted the Second Annual Conference of Primary Health Care and Preventive Medicine in Baghdad February 26 - 27. The Iraqi Minister of Health, Dr. Majeed Hamad Ameen, and USAID Deputy Mission Director, David Harden, attended the conference. USAID […]
KRG President Approves 2013 Budget
By John Lee. The President of Kurdistan Region, Massoud Barzani (pictured), has approved the budget for 2013, officials from Ministry of Justice from KRG said. This follows the budget's approval last week by a majority of the Kurdistan parliament. (Sources: Kurdsat, AIN)
Video: Iraqi Turkmen Demand Own Defence Force
Violence is increasing in Iraq near the disputed Kurdish-controlled northern territory. The Turkmen population there wants to have its own defence force. Several attacks have killed dozens of people in the past six months in the city of Tuz Kharmato. Al Jazeera's Jane Arraf reports: (Source: Al Jazeera)
UK Minister: "The Opportunities are Fantastic ..."
By Padraig O'Hannelly. As we approach the tenth anniversary of the US-led invasion and the overthrow of Saddam Hussein's regime, there is much speculation about how the country and indeed the world would now look had Western powers not intervened. And while that speculation may be interesting, it can be no more than an educated […]
Weekly Security Update
By Tom Walker, Director, Assaye Risk. (Please click on graphics to view.) COUNTRY OVERVIEW This week in Iraq has been somewhat calmer than the previous reporting period with a noted decrease in attack tempo. There were decreases in the number of civilian fatalities with a reported total of approx. 57 fatalities country wide […]
Iraq/UK Energy Cooperation Growing Stronger
By Mark Simmonds, United Kingdom's FCO Minister for International Energy. Iraq is retaking its position at the energy top table. After decades of economic mismanagement and political repression, the country is emerging as one of the most important and dynamic global energy producers. Oil production has increased by over 50% in the last six years, […]
Petrofac Updates on Iraqi Operations
By John Lee. In its final results for the year ended 31st December 2012, oil and gas service provider Petrofac issued the following updates on its operations in Iraq: Badra oilfield development project, Iraq In February 2012, we were awarded a US$330 million lump-sum EPC contract by Gazprom for the first phase of the Badra […]
First Flight to Kuwait since 1990
By John Lee. Iraq's state-owned airline has launched its first flight to Kuwait since the invasion of the country in 1990. Reuters reports that Iraq's foreign and transport ministers travelled on the Iraqi Airways flight on Wednesday, in what is viewed as a sign of improving relations between the two countries. In December, Kuwait's state-run […]
German Company Wins $2m Order for Electric Actuators
By John Lee. AUMA, the German-based manufacturer of electric actuators, actuator controls and valve gearboxes for the oil and gas industry, has won a $2-million order to supply more than 400-explosion proof actuators and gearboxes in Iraq. Working together with the Ministry of Oil's State Company for Oil Projects (SCOP), the company will supply actuators […]
BBC Special on Iraq
BBC's Kirsty Wark presented a special edition of the Newsnight programme looking at how Iraq and the world changed following the war ten years ago. It includes contributions from former Prime Minister, Tony Blair; former UN weapons inspector Hans Blix; and Chair of the Iraq Britain Business Council (IBBC), Baroness Nicholson. The program can be […]