Iraq's 4th Energy Auction Kicks Off
Iraq's fourth energy bidding round takes place on Wednesday and Thursday, but Reuters reports that tough contract terms mean Baghdad may struggle to drum up major interest. The 12 new oil and gas exploration blocks are some of the last potentially rich unexplored territories left. As in previous auctions, foreign energy companies would prefer production-sharing […]
Iraq to Cut Basra Crude Exports by 15% in First Half of June
Iraq will reduce its exports of Basrah Light crude from the Persian Gulf by 15 percent in the first half of June compared to the second half of May, according to Bloomberg. A loading program seen by the news agency shows that the country plans to ship 19 cargoes from the al-Basrah Oil Terminal (ABOT), […]
GKP, Genel, Report 'Inconclusive' Results at Ber Bahr
Gulf Keystone and Genel Energy have updated the markets on their operations at Ber Bahr-1, the first exploration well on the Ber Bahr block in the Kurdistan Region of Iraq: The Ber Bahr 1 well has now completed drilling and initial testing. The well was drilled to 3993m in the Chia Zairi formation. The well […]
Cmte Rejects Govt Request to Delay Customs Law
The economy and investment committee of the Iraqi Council of Representatives announced on Tuesday that it has rejected the government's request to delay the application of the customs law passed in 2008. Committee member Mahma Khalil said, "we fear that the government was put under pressure from traders and some states to reverse the application […]
Turkish Company to Make Fire Extinguishers in Iraq
AKnews reports that Iraq's Ministry of Industry has signed a £3-million contract with a Turkish company for the production of fire extinguishers. The company signed the deal with Iraq's state-owned al-Kanadi company, which is headed by Yousuf Hussein Yousuf. "The contract came within the allocations of the investment plan for the years from 2010 until […]
Tender for the Supply of 5 Million Sacks
The Southern Cement state company is pleased to announce the following tender: Supply of Five Million Paper Sacks . For anyone who would like to participate please do not hesitate to attend the commercial department at the company main office located in Kufa-Iraq in order to obtain a copy of the tender paper which includes […]
Four 'Forgotten' Power Generators Found in Iraqi Port
Jawad al-Bazouni, an MP for the National Alliance, has told Aswat al-Iraq that four power generators were found forgotten in storage at the Khor al Zubair port. After receiving information about them, Bazouni found them during a tour of the port. Following inspection, it was found that three of the generators entered Iraq in 2005 but […]
Kurdistan Bans Importation of Certain Fruits and Veg
Kurdistan's Ministry of Agriculture and Water Resources has announced a ban on importation of certain fruits and vegetables from next month, according to AKnews. The Marketing Director at the ministry, Nouri Ismael, said that this comes as a result of the region achieving self-sufficiency in these agricultural products. Peppers will be banned permanently, while cucumbers, […]
Seminar sets out how Kurdish Students are Supported in UK
Students on the Kurdistan Regional Government’s scholarship programme in the UK last week made presentations about their academic research and heard about the support that the KRG UK Representation provides to students at a seminar hosted by the Kurdistan Medical and Scientific Federation. The KMSF hosted the event at Aston University in Birmingham in what […]
US Ambassador Bids Farewell to Kurdistan Region
President Masoud Barzani welcomed US Ambassador James Jeffrey on Sunday for a farewell visit to the Region as he concludes his term in Iraq. Ambassador Jeffrey thanked President Barzani and the Kurdistan Regional Government for their important role during his two year posting in Iraq. “I thank you for your support and cooperation. Under your […]
Dunia Weekly Iraq Market Tracker
Advertising Feature Iraq Business News is delighted to bring you the latest Iraq Market Tracker report from Dunia Frontier Consultants. The market tracker highlights the activities and market performance of a basket of publicly traded firms who derive a significant percentage of their revenues from operations in Iraq, but are traded on foreign exchanges: a […]
Iraq Signs 100,000-Home Contract With Hanwha
According to a report from Bloomberg, Iraq has signed the contract with South Korea’s Hanwha Engineering & Construction to build 100,000 residential units in Baghdad. Salah Abdul Razzaq, Baghdad’s governor, said more than 30,000 people are registered for the units so far, adding that the project will secure 100,000 jobs. Previous reports put the value […]