Operations Resume at Iraq's New Oil Export Terminal
The Kipp Report, citing sources at Iraq's state-owned South Oil Company, reports that Iraq's new offshore oil export terminal had resumed operations at 7.30 p.m. (1630 GMT) on Thursday, and was loading at a rate of 576,000 bpd. Iraq’s Oil Minister Abdul Kareem Luaibi had said earlier on Thursday that bad weather rather than technical […]
Iraq to Stop Importing Electricity Next Year
AKnews reports that Iraq will stop importing electricity from neighboring countries by the summer of 2013. Instead of depending on foreign countries for electricity, new capacity will be introduced over the next two years to the national grid, and energy production will reach 20,000 MW. Ministry spokesman Musab al-Mudarres told AKnews the ministry currently has […]
Min. of Transport: "We’ll Stop Iranian Planes"
Iraq’s Minister of Transport Hadi al-Amiri (pictured) talks to NIQASH about Iraq’s role in alleged Iranian weapons smuggling into Syria as well US spy drones over Iraq monitoring Iranian activities. “It’s a lie,” al-Amiri says. Al-Amiri also talks about how a recent visit to Iraq’s neighbour, Kuwait, could see Iraqi Airways flying again. And he […]
Libya Restores Diplomatic Ties with Iraq
Libya has restored full diplomatic relations with Iraq and plans to send an ambassador to Baghdad, according to a report from AFP. Libya announced in June 2003 that it was breaking off diplomatic ties with Iraq and closing its embassy shortly after the US-led invasion of the country earlier that year, following which foreign diplomats […]
Iraq and BP sign Deal for Kirkuk Oil Field
AKnews reports on Saturday that Iraq's state-owned North Oil Company has signed a preliminary agreement with BP to increase production at the Kirkuk oilfield from about 280,000 barrels per day (bpd) to 580,000 bpd. Hussein Allam, the undersecretary of North Oil Company said: "The initial agreement is part of a high-level plan carried out by […]
Nawroz Tourism Up on Last Year
The number of tourists visiting Kurdistan on the third day of Nawroz, the Kurdish New Year, reached 112,000 on Friday, about double the number who visite last year's celebrations, according to a report from AKnews. Friday’s figures mean an increase of about 36% from the first day of Nawroz when 82,000 tourists visited the region. […]
Gulf Keystone Boss Pockets $20m
Todd Kozel (pictured), CEO of Iraq-focused oil explorer Gulf Keystone Petroleum (GKP) will receive a $20 million pay package, making him one of the UK's highest paid executives. According to Reuters, his earnings doubled in 2011 to at least 12.8 million pounds ($20 million), 11 million of which is in share awards plus a cash […]
Gulftainer Appoints New Commercial Director
Gulftainer, the largest privately owned port operator in the world based in Sharjah, has recently appointed Jay New as its new Commercial Director. Jay will be based in the Sharjah headquarters, overseeing and progressing the company's commercial operations in the region and worldwide. Jay has worked in the ports, shipping and logistics field for over […]
Iraq in Talks over Highway to Turkey and Syria
The Iraqi government has agreed to hold talks with China’s Poly Technologies on a plan to build a highway linking the country with Turkey and Syria, according to a report from Bloomberg Businessweek. Iraq’s minister of construction and housing will discuss the design of the project with Denmark’s COWI Holding A/S, said government spokesman Ali […]
Video: Iraq Has Role to Play in Boosting Oil Supplies
Luay Jawad al Khatteeb, chief executive officer of Iraq Energy, discusses global oil supplies and tensions surrounding the Strait of Hormuz transit route. He speaks from Hong Kong with Caroline Hyde on Bloomberg Television's "First Look." (Source: Bloomberg)
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 22nd March 2012). Please click here to download a table of listed companies and their associated ticker codes. ID1,336 / $1,466, +0.9% (weekly change). The number of week traded shares was 14.6 bn and the weekly trading volume was ID27.2bn ($23.0mn). ISX […]
Iraq Still Considering Exxon Bidding Ban
The Iraqi oil ministry is said to be still considering whether to allow Exxon Mobil to bid in the country's 4th energy licensing auction, lifting a ban that was imposed because of the deal it struck with the Kurdistan Regional Government (KRG). "We are going to discuss this matter in the ministry and, God willing, […]