Iraq to Spend $1.6bn on Solar, Wind Energy
By John Lee. Iraq plans to invest up to $1.6 billion on renewable energy over the next three years, according to a report from Retuers. The new solar and wind power stations will to add 400 megawatts to the national grid, helping to close the gap between the 8,800 MW produced and the 14,000 MW needed. […]
Iraq Cabinet Names Interim CBI Governor
Iraq's cabinet has named an interim replacement as governor of the country's central bank. Prime Minister Nouri al-Maliki's spokesman Ali Mussawi said, "the cabinet decided to authorise Abdelbassit Turki, the head of the Board of Supreme Audit, to run the central bank indefinitely". The former head of the Central Bank of Iraq (CBI), Sinan al-Shabibi, […]
Baghdad, USAID Agree on Economic Balance
A new report jointly compiled by the Iraq Prime Minister’s Advisory Commission and the U.S. Agency for International Development warns that over dependence on oil revenues has the potential of creating significant economic and market distortions. According to the report, released at an October 4 conference in Baghdad’s Al-Rashid Hotel, rapid expansion of oil wealth, […]
TBI Opens Branch at Baghdad International Airport
The Trade Bank of Iraq (TBI) has announced the opening a new branch at Baghdad International Airport, and confirmed that it will also open a branch at Najaf Airport. Hamdiya al-Jaff, the head of the TBI, said the Baghdad Airport branch will provide the full range of banking facilities, including remittances, opening current accounts, and […]
IBN Tenders Service
IBN tenders service allows you to access the most comprehensive and accurate tender information. Our tenders page is free of charge and currently shows more than 70 business opportunities. We ensure your organisation has access to relevant tenders for your business. If you wish your tenders to appear on our website, please send them by email […]
Weekly Security Update
By Gary Sandiford, Olive Group’s Dubai based assessments manager. Olive Group is a leading provider of security and technology solutions and has operated continuously in Iraq since 2003. Overview Olive Groups Iraq statistics are drawn from multiple sources, including media reporting and direct liaison with in country assets. Included within the statistics are a […]
Khor Mor Production Reaches 80,000 bpd
Investment almost $1 billion - highest foreign investment in Iraqi oil and gas sector Total 67 million barrels produced since 2008 – highest by private sector in Iraq Project achieves government fuel cost savings of $5.4 billion Dana Gas and Crescent Petroleum, in their capacity as joint operator of the Khor Mor field, have announced […]
Oil Exports Pipeline Completed in Basra
By John Lee. Iraq's South Oil Company has announced the completion of new pipeline network connecting its sites in North West Basra and the floating piers in the Fao [Faw] area, south of the province. Director General Dhia al-Mussawi told Aswat al-Iraq that the new pipelines will pump oil from storage in Tuba to the […]
UK Boosts Diplomatic Presence in Baghdad, Erbil
By John Lee. As part of a review of the United Kingdom's diplomatic engagement with Iraq, which included the announcement today that the country's consulate in Basra is to close, the UK’s Secretary of State for Foreign and Commonwealth Affairs, William Hague (pictured), has announced increased resources for the embassy in Baghdad and the consulate […]
Video: Iraq Limits Number of Syrian Refugees
Thousands of Syrians are fleeing the conflict at home to take refuge in neighbouring countries. Jordan has announced it will open a second camp meaning as many as 250,000 refugees could be held in the country. But Iraq, another Syrian neighbour , is now limiting the numbers coming over the border saying it lacks the […]
LUKoil says no Approach from Iraq on West Qurna-1
Russia's LUKoil said on Tuesday that Iraq has not asked it to replace Exxon Mobil at the West Qurna-1 oilfield. Nefte Compass said last week that Iraq was considering replacing Exxon with either Russia's LUKoil and Gazprom Neft, but LUKoil Vice President Leonid Fedun (pictured) told Reuters: "No one has offered us West Qurna-1 ... […]
GKP Sued by Ex-Soldier over Iraq Oil Rights
By John Lee. Todd Kozel (pictured), Gulf Keystone's Executive Chairman and Chief Executive Officer, should not be considered a credible witness, a lawyer for Excalibur Ventures said at the opening day of a trial in London. Excalibur is suing the oil explorer for a 30 percent stake of the assets under a collaboration agreement, which according […]