Weekly Security Update for 13th June 2012
Levels of violence rose in Iraq last week. At least 79 people were killed and 207 injured in nationwide incidents, more than double the figure recorded the previous week. A total of 21 non-suicide bomb attacks left 24 people dead and 36 injured. This is a relatively standard figure for the country. However, a suicide […]
Iraqi Kurdistan Needs 5,000 New Homes a Year
Iraqi Kurdistan needs to spend 200 billion dinars ($172 million) a year on homebuilding, an adviser to the housing ministry, Ammar al- Najjar, told Bloomberg in an interview. “We are capable of resolving the housing crisis in the coming 10 years through building 5,000 units a year ...We’ll need 200 billion dinars a year to […]
CNOOC Digs First Oil Well in Maysan Province
AIN reports that the China National Offshore Oil Corporation (CNOOC) has started to dig its first oil well in the Fakka oil field in eastern Maysan [Missan] province. A statement from the Missan Oil Company said that the project to develope the Maysan oil fields of Bazergan [Buzurgan], Fakka, and Abo Gharab [Abu Ghirab] has […]
Sonoro Enters into Drilling Rig Purchase Agreement
Sonoro Energy has announce that the company, through a wholly-owned subsidiary, has entered into an agreement to purchase a drilling rig for their planned asphalt operations in Salah ad Din Province. The drilling rig will be transferred to a joint venture company ("JV Co"), to be established by Sonoro and its partners, Berkeley Petroleum Mesopotamia […]
Former CEO Admits Making Corrupt Payments in Iraq
Paul Jennings appeared before Southwark Crown Court in London on Monday charged with alleged offences of conspiring to make corrupt payments to public officials in Indonesia and Iraq to secure contracts for Innospec Ltd for the supply of its products. Mr Jennings, a former CEO for Innospec Ltd, pleaded guilty today to the following charges: […]
New Kurdistan-Turkey Pipeline could be Game-Changer
A plan to construct a new oil pipeline, with a capacity of 1 million barrels per day, between Iraqi Kurdistan and Turkey has drawn positive responses from many in the oil industry, according to a report from Investors Chronicle. Paul Atherton, finance chief of Heritage Resources, said: "This is an excellent opportunity for Heritage to […]
Iraq and Jordan sign Energy Agreement
According to a report from AKnews, Iraq's Council of Ministers has agreed to authorize the Minister of Oil to sign a memorandum of understanding with the Ministry of Energy and Mineral Resources in Jordan in the areas of oil and energy. The five-year agreement includes the construction of a pipeline to transport crude oil and […]
Iran Starts Electricity Exports to Iraq
Aswat al-Iraq has reported that a new Iranian electricity supply line has started operations, carrying 100 MW of electricity from Iran. The new line is aimed at meeting the 550 MW of power required by Wasit province. The province currently only receives less than 150 MW from Iraq’s national grid, and consequently suffers from regular […]
Iraq Receives 31,000 Tons of Uruguayan Rice
AKnews reports that Iraq has received 31,000 tons of Uruguayan rice. Three Canadian ships "loaded with wheat" (sic) arrived at Iraqi ports as part of the country’s efforts to strengthen the food supply program on which 60 percent of Iraqis rely. The ministry started transferring the cargo that arrived through the port of Umm Qasr […]
Video: Iraq "Makes Political and Economic Progress"
USA TODAY reporter Jim Michaels elaborates on life in Iraq six months after U.S. combat troops left. (Source: USA Today)
Exactly How Many MPs Are Ready to Vote Out Maliki?
The following article was published by Reidar Visser, an historian of Iraq educated at the University of Oxford and currently based at the Norwegian Institute of International Affairs. It is reproduced here with the author’s permission. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. […]
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 […]