ISX Year-end Jinx Lifted?
By Mark DeWeaver. The ISX historically has tended to go down in the second half of the year. Last November, I argued that this may be due to the timing of capital increases. (See this post.) If this is the case, the recently announced new rules on share suspensions mean that the market will no […]
Alstom Grid wins $42m Kurdistan Electrical Contracts
By John Lee. Alstom Grid has announced that it has won contracts worth €34 million ($42 million) from KAR Construction & Engineering Company to engineer and supply substations for the electrical grid. The company will supply four 132/33/11 kV Air-insulated Switchgear (AIS) substations and one 132/33/11 kV Gas-insulated Switchgear (GIS) substation for the Kurdistan Regional […]
Iraq to Reduce Gulf Crude Exports by 3.8% in 2H-July
By John Lee. Bloomberg reports that Iraq will reduce its daily exports of Basrah Light crude from the Persian Gulf by 3.8 percent in the second half of July, compared with shipments in the previous two weeks. Twenty-four cargoes are scheduled to be shipped from the al-Basrah Oil Terminal (pictured), up from 18 in the […]
Glass Factory Resumes Production after 10 Years
By John Lee. A glass factory in Anbar has resumed production after a break of 10 years. AKnews reports that factory manager Fadhil Ahmed said the factory’s production line is now fully functioning with the help of the Ministry of Industry using local expertise. “The factory is now capable of producing high quality products like […]
Video: Olive Oil Industry in Iraq Begins to Ripen
By John Lee. A new video produced by USAID showcases the Al-Zatoon Olive Association's new processing plant in Ninawa province, home of the first mechanized olive oil presser in Iraq and a model for similar demonstration projects in Kurdistan, Salah al Din and the Tallafar district of Ninawa province. A new olive oil industry in […]
Kurdistan and Northern Ireland sign MoU to Strengthen Relations
By John Lee. Northern Ireland's Enterprise Minister, Arlene Foster (pictured), has today signed a Memorandum of Understanding (MOU) with the Kurdistan Regional Government, which will strengthen trade links and define areas of co-operation between the two regions. The MOU is the result of the Minister’s visit to Kurdistan in October 2011 when she met with […]
Samawa BDC Goes to University
By John Lee. The Samawa Business Development Center (SBDC) continues to expand the range of services it provides in Muthanna Province to meet the needs of government and businesses alike. Initially benefitting from grants and support provided by the Dhi Qar and Muthana Provincial Reconstruction Team and the USAID-Tijara program, the SBDC has grown from […]
Iraq to Begin Gas Imports from Iran by March 2014
By John Lee. Iran's Oil Minister, Rostam Qasemi (pictured), says his country is expected to start exporting natural gas to Iraq by the end of the next Iranian year (to start March 21, 2013), reports the Iranian news agency PressTV. Last year, the oil ministers of Iran, Iraq and Syria agreed to construct a pipeline […]
Shahristani tells Japex, Petronas to Speed up Development at Gharraf
By John Lee. The Iraqi Deputy Prime Minister for Energy Affairs, Hussein al-Shahristani, has reportedly urged the consortium developing the Gharraf oilfield in Maysan province to speed up progress on the project. He also offered to help "eliminate the obstacles facing the work of the company", which is a venture between the Japanese JAPEX and […]
Iran Cuts Flow of al-Wind River
By John Lee. Iran has again has blocked the flow of water from the al-Wind [Wand, Alwand, Hulwan] river, in a move which has angered Iraqi farmers and citizens, according to PUKmedia. Protesters are demanding that Iran release water into the river, saying their fertile land turning barren because of the repeated cuts and shortages […]
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 […]