CNPC to Replace Statoil at West Qurna-2?
By John Lee. The China National Petroleum Corporation (CNPC) is reported to be in talks with Russia's OAO Lukoil about joining the company’s West Qurna-2 project in Iraq. Lukoil is seeking a partner for a 30 percent stake in the project following the exit of Norway's Statoil’s, Nefte Compass said, citing Andrei Kuzyaev (pictured), head […]
Trade Licences to be Written in Kurdish and Arabic
By John Lee. The Kurdistan Region's Ministry of Trade and Industry has said that import and export trade licences are to be written in both Kurdish and Arabic from now on. Aziz Ibrahim, Director General at the Ministry said: "The region's Ministry of Trade and Industry decided to implement the instruction of Iraq's Ministry of […]
US Embassy Travel Warning
The Department of State warns U.S. citizens against all but essential travel to Iraq given the security situation. Travel within Iraq remains dangerous. This Travel Warning replaces the Travel Warning dated January 19, 2012, to update information on security incidents and to remind U.S. citizens of ongoing security concerns for U.S. citizens in Iraq, including […]
Iraqi Tailors Driven Out of Business by Extremists
By Abdul-Muhaymen Basel. This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. In Mosul, still one of the most dangerous cities in Iraq, wearing a suit makes you a target for kidnapping or murder. The unexpected result of […]
Hermes Datacomms Wins Contract in Iraq
By John Lee. Hermes Datacomms Middle East, a UK-based Wide Area Network communications specialist, has secured a contract to provide microwave and fibre connectivity to the Iraqi operation of Consolidated Contractors Company, a pan-regional conglomerate involved in the construction sector. According to the report from ITP, the company will provide a dedicated managed fibre circuit […]
Denmark’s COWI to Design Baghdad-Turkey Highway
By John Lee. An official from Iraq's Ministry of Housing and Construction has told Bloomberg that the ministry has signed a contract with the Danish company COWI for the design of a highway linking Baghdad with Turkey. The company, based in Lyngby, Denmark, is due to complete preliminary designs within 20 weeks before working on […]
Kor Mor Kurdistan Production Reaches 70k BPD
By John Lee. Crescent Petroleum and its partner and affiliate Dana Gas PJSC, have, in their capacity as joint operator of the Kor Mor field, announced that total production in their major gas operations in the Kurdistan Region of Iraq has grown steadily to reach 70,000 barrels of oil equivalent per day, with total investment […]
Video: Kurds Take Control in Syria's Northeast
Control of large parts of Syria's north east is now in the hands of the Democratic Union Party - the main Kurdish party in the region. About 2 million Kurds live in the area, making up 10 per cent of the population. There are also significant Kurdish populations in Turkey and Iraq and more in […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 8th August 2012). Please click here to download a table of listed companies and their associated ticker codes. ID1,362 / $1,473 (+0.2%) (weekly change). The number of week traded shares was 15.1bn and the weekly trading volume was ID19.6bn ($16.3mn). Note: There will […]
Iraq Oil Production Tops 3m BPD
By John Lee. Iraq’s crude oil output rose above 3 million barrels a day last month for the first time since the 2003 U.S.-led invasion that toppled Saddam Hussein, according to the Organization of Petroleum Exporting Countries (OPEC). Iraq pumped 3.08 million barrels a day in July, 115,000 barrels more than the previous month, outpacing […]
Malaysian Firm Wins $86m Baghdad Water Project
By John Lee. A Malaysian company has been awarded a contract worth $86 million to design and build the Al-Zuhour Water Project in Baghdad. According to a report from Bernama, the Ho Hup Construction Company Bhd won the 10,000 cubic metres per hour capacity turnkey project, awarded by the Ministry of Municipalities and Public Works, […]
Video: Warzone Hummers in Iraq, now Stretch Limos
By John Lee. In Iraq, car bombings and corruption are still facts of life, reports CNN, but there are signs of economic renewal. Among them is the Hummer. The U.S. Military’s armored vehicles of choice are being turned into stretch limos and rented out at $400 a day for weddings by Iraqis who can afford […]