Iran to Boost Exports to Iraq to $12bn
Iran's Ambassador to Iraq, Hassan Danaeifar, says Tehran plans to export $12 billion worth of goods to Iraq by the end the current Persian calendar year (ending March 20, 2013), up from around $11 billion last year. "Iraq's free economy has created a competitive atmosphere for exporters from all over the world. Iranian cooperatives should […]
UNAMI Welcomes Amendment to Elections Law
The Special Representative of the Secretary-General (SRSG) for Iraq, Mr. Martin Kobler (pictured), welcomed the approval by the Iraqi Council of Representatives yesterday of the fourth amendment to the Governorate Council elections law, which determines the seat allocation formula to be applied in the elections. "The amendment was the final element in approving the legal […]
Iraq Seeks Pipeline Investors
At a roadshow in London today, Iraq sought investors for two new oil pipelines: A 2.25-million bpd line from Basra to the pumping station at Haditha, to be built on an EPC (engineer, procure and construct) contract; and, A 750,000- to 1-million bpd line from Haditha to the port of Aqaba in Jordan, on a […]
Iraq invites NESPAK for Irrigation Project
Iraq's Ministry of Water Resources has reportedly invited National Engineering Services of Pakistan (NESPAK) to participate in an irrigation project. The Express Tribune reports that the project, called "East Gharaf", will provide sustainable irrigation and drainage facilities for about 390,000 acres of land in the general areas of Nassiriya and Kut. State-owned NESPAK had worked on […]
Iraq Declared 'EITI Compliant'
The Board of EITI (Extractive Industries Transparency Initiative) has declared Iraq to be 'Compliant' with the EITI Standard. There are now 18 countries that are 'EITI Compliant'. EITI compliance means that the country has an effective process for annual disclosure and reconciliation of all revenues from its extractive sector. This allows citizens to see how […]
Video: Iraq Oil Minister on OPEC Sec Gen Result
Iraqi Oil Minister Abdul Kareem al-Luaibi [Elaibi] talks about the extension of Abdalla El-Badri's tenure as secretary general of the Organization of Petroleum Exporting Countries (OPEC). He spoke with Bloomberg Television's Ryan Chilcote in Vienna: (Source: Bloomberg)
Iraq's Ghadhban Fails to Win OPEC Sec Gen Position
By John Lee. OPEC ministers have failed to agree on a new secretary general and have asked Abdalla el-Badri to stay in the post for another year. Four countries had been competing for the job -- Saudi Arabia, Iran, Iraq and Ecuador -- but Ecuador’s candidate, oil minister Wilson Pastor-Morris, announced last week that he […]
British Firm Pleads Guilty to Iraq Fraud
By John Lee. A British contractor has agreed to plead guilty to wire fraud conspiracy in a deal to supply vehicles to Iraqi police, according to Associated Press. APTx was to receive $5.7 million as a subcontractor in an August 2004 deal to procure 51 vehicles for the Iraqi Police Authority. The US Department of […]
Two New Forests in Muthanna
By John Lee. Two areas of land have been allocated for new forestry in Muthanna province. AIN reports that 200 acres has been designated in the Um Akaf district, with a further 50 acres in Salman district. Consent has also been obtained for an animal feed factory on a site of 5 acres in western […]
Basra’s Governor Meets US Businessmen
By John Lee. The governor of the southern Province of Basra, Khalaf Abdulsamad [Dr. Khalaf Abdul-Samad Khalaf] (pictured), is visiting the U.S. this week for talks with American firms considering investing in Iraq. At a private luncheon hosted today by the Bilateral US-Arab Chamber of Commerce in cooperation with the United States’ Departments of State […]
Iraqi Oil Minister's Address to OPEC Conference
The opening address to the 162nd Meeting of the OPEC Conference, by HE Abdul-Kareem Luaibi Bahedh, Minister of Oil of Iraq and President of the Conference: Excellencies, ladies and gentlemen, Welcome to Vienna for the 162nd Meeting of the OPEC Conference. I should like to extend a special welcome to His Excellency Dr Abdel Bari […]
Energy Companies no Proxy for ISX
The latest article from our Expert Blogger Mark DeWeaver gives a concise overview of the fall and rise of the Iraqi Stock Market (ISX) over the past 15 months, and of some of the factors driving (and not driving) it. For the average non-Iraqi retail investor, however, it is difficult to participate in this market, […]