Hopes of More Flights Between Turkey and Basra
Turkish Airlines hopes to increase the number of flights between Turkey and Basra from four to seven per week. Farouk Qaimagja, of the Turkish Consulate in Basra, told AKnews: "We are working seriously to reach this number of flights per week. We hope that this will be achieved as soon as possible through the cooperation […]
WesternZagros Shares Up on Oil Find and Results
Shares in WesternZagros closed up more than 10% on Monday following the announcement of a new oil find in Kurdistan, and the publication of results:
KRG Demands Say Over Kirkuk Oil Contracts
The Kurdistan Regional Government (KRG) has issued the follow statement on the reported granting of a contract to BP for the development of oilfields in Kirkuk: Neither Iraq’s federal oil ministry nor state-owned oil companies have the right to unilaterally award contracts to develop currently producing fields in Kirkuk province or in other adjacent areas, […]
ABB Wins Power Distribution Contract in Iraq
ABB, the global power and automation technology group, has won an order from the Ministry of Electricity (MOE) in Iraq to provide a state-of-the-art power distribution management system. The solution will incorporate advanced communication technology, with monitoring and control functions, to improve the availability, performance and reliability of power supplies in the capital, Baghdad. ABB […]
Obama Proposes ex-Bush Official as Envoy to Iraq
US President Barack Obama has nominated a former member of president George W. Bush's national security staff to be the next US ambassador to Iraq, according to AFP. Brett McGurk is currently senior advisor to US Ambassador James Jeffrey, and served in Baghdad as senior advisor to the previous two US ambassadors, Ryan Crocker and […]
Video: Iraq Gears up for Arab League Summit
Iraq gears up for Arab League Summit: (Source: Al Jazeera)
More Details of New Iraqi Dinars
AKnews reports that Iraq's new currency will include three languages: Arabic, Kurdish, and English. It will also include archaeological features including those of the Kurdistan Region. Speaking on behalf of the economic committee in the Iraqi Council of Representatives, Muhama Khalil said that deleting the three zeros, and restructuring the currency will provide significant economic […]
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 […]
Major New Oil Discovery in Iraqi Kurdistan
WesternZagros Resources has made a major oil discovery in the Oligocene reservoir at the Kurdamir-2 exploration well in the Kurdistan Region of Iraq. The Kurdamir-2 well has reached the intermediate casing depth of 2,812 metres, and has drilled through the Oligocene interval. Wireline logs indicate a porous zone of 140 metres thickness within the Oligocene […]
Calik Enerji to Open Khairat Power Plant in July
The Turkish company Çalık Enerji will open its 250 mega watt Khairat power station at the beginning of July, the first of 20 stations Iraq hopes to build around the country, reports AKnews. The Deputy Prime Minister for Energy, Hussein al-Shahristani, made the announcement today and told AKnews that the Ministry of Oil will provide fuel […]
Iraqi Oil Exports Dip in February
Iraq's oil ministry says oil exports in February have declined by nearly 4.5 percent compared to the previous month, as a result of bad weather and sabotage of pipelines. "Iraq exported 58.4 million barrels of crude in February, down from 65.3 million barrels a month earlier and the lowest such figure since November 2010, figures […]
Basra Officials Inspect Residential Project
The head of the Basra Investment Commission (BIC) and a number of local officials inspected the Modern Basra City project, implemented by the US-based Wadi Sawa International in al-Sabkh region, near the Sports City. "Basra's governor, accompanied by the head of the BIC, hailed the project's design and the ongoing work which includes the establishment […]