Maliki Calls for US to Speed up Arms Transfers
By John Lee. Iraqi Prime Minister Nuri al-Maliki called on Sunday for the US to speed up the transfer of weapons to Iraq, which lacks the ability to defend its airspace or borders. UPI reports that during a meeting with General James Mattis, the visiting head of US Central Command, the Iraqi premier also pointedly […]
Chevron to Pay $200m for Kurdistan Oil Exploration Rights
By John Lee. America's second-largest energy company, Chevron Corporation, may buy the rights to two oil exploration zones in Iraqi Kurdistan. According to a report from region from the Sunday Times in London, it would acquire the rights from Reliance Industries, India's largest private sector enterprise. The deal, which may be announced this week, is […]
Premier Oil to join Bashneft in Oil Block 12
By John Lee. Britain's Premier Oil is teaming up with Russia's Bashneft to develop Iraq's oil exploration block 12. In an update to the markets on Thursday, Premier said: "Subject to ongoing discussions with the authorities in Iraq, Premier has agreed to join Bashneft on Block 12, an 8,000 km2 block in the underexplored Salman […]
Iraq Signs Energy Exploration Contracts
By John Lee. Iraq signed the gas exploration contract with Pakistan Petroleum Ltd. (PPL) on Sunday for gas Block 8, which lies in the Diyala and Wassit provinces in the East of the country. Meanwhile on Monday, a consortium led by Kuwait Energy signed the contract for oil Block 9, having bid fee of $6.24 […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 12th July 2012). Please click here to download a table of listed companies and their associated ticker codes. ID1,363 / $1.487, (+4.1%) (weekly change). The number of week traded shares was 6.7bn and the weekly trading volume was ID11.5bn ($9.6mn). ISX Company […]
Iraq to Create Dhi-Qar Oil Company?
By John Lee. The Iraqi province of Dhi Qar (Thi Qar) may get it's own oil company, according to a report from AIN. The Deputy Prime Minister with responsibility for Energy Affairs, Hussein al-Shahristani (pictured), discussed the issue with the Deputy Chairman of Dhi-Qar Provincial Council, Hadi Mohan, at his office in Baghdad. Shahristani instructed to […]
$40m Compensation for Samarra Property Damage
By John Lee. A committee has been formed to manage the distribution of 48 billion Iraqi dinars ($40 million) in compensation to the people of Samarra. It will be chaired by the Minister of Sciences and Technology, Dr. Abdul Kareem Al-Samarra’yie [Abdul-Karim al-Sammaraie, Abd al-Karim al-Samarrai], and will include the Mayor of Samarra, and the […]
Iraq to Boost Air Defences from Supplementary Budget
By John Lee. The Iraqi government has agreed to allocate additional funds from the supplementary budget to boost its air defences. Mr. Ali Mohsen Al-Allaq, the Secretary General to the Council of Ministers, said the country's sovereignty requires that its airspace should not be violated, a fear that was expressed by Acting Minister of Defense Mr. […]
Iraq Auditor Questions $636m in Costs
By John Lee. The Special Inspector General for Iraq Reconstruction (SIGIR), Stuart Bowen (pictured), has found serious weaknesses in the government’s controls over Iraq reconstruction funds that put billions of American taxpayer dollars at risk of waste and misappropriation. The precise amount lost to fraud and waste can never be known, but SIGIR believes it […]
Iraqi Ministry to Build Housing Complex for Employees
By John Lee. Iraq's Minister of Science and Technology, Dr. Abdul Kareem Al-Samarra’yie [Abdul-Karim al-Sammaraie, Abd al-Karim al-Samarrai], has signed a contract with the "Bank Company for Construction Contracting" to build an integrated residential complex for the employees of the Ministry in Tuwaitha site. A statement by the ministry quoted the Minister as saying "The […]
Toyota to Open Sales Center in Basra
By John Lee. Japanese car giant Toyota says it wants to open a sales center in Basra province, and Basra Investment Commission (BIC) has offered to help facilitate the project, according to a report from AIN. Saleh Rauf, the Executive Director of Toyota, said: "The Company has an earnest and ambitious plan to start this […]
Foreign Minister Opens Iraqi Consulate in Frankfurt
By John Lee. Minister of Foreign Affairs, Hoshyar Zebari, inaugurated the new Iraqi Consulate General in Frankfurt on Wednesday. Present at the ceremony were; Representative of Hessen Province Premier, Rudolf Chris, the Iraqi Ambassador in Berlin, Representative of the German Ministry of Foreign Affairs and Iraq's File Manager, Accredited Consul Generals in Frankfurt, and prominent […]