Basra’s Unfair Share: Wealthy in Oil, Poor in Every Other Way
The citizens and authorities in what is potentially Iraq’s wealthiest oil boom town are upset. They say oil companies are causing environmental problems and Baghdad is getting rich while they’re missing out, according to this article from NIQASH. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq […]
Separatism and Sectarianism in Barzani Speech
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. […]
Iraq Denies Tech Fault in New Oil Terminal, Blames Weather
Iraq said on Thursday that weather, rather than a technical fault, was behind an interruption in the operation of the new single point mooring (SPM) terminal on the Persian Gulf. The new facility loaded 2 million barrels of oil into its first ship, the Maersk Hirado, between 8th March and 13th March, but has not […]
Baghdad's Historic Summit Meeting
Next week's Arab League Summit in Baghdad is a very significant moment in Iraq's development. Quite apart from any discussions and resolutions at the conference itself, the staging of the event in Iraq for the first time since 1990 demonstrates the acceptance of an independent Iraq into the community of Arab states. Preparation for the […]
US Under Secretary of the Treasury Visits Iraq
The U.S. Department of the Treasury announced today that Under Secretary for Terrorism and Financial Intelligence David S. Cohen is traveling to Iraq, Lebanon and the United Arab Emirates this week to discuss international sanctions against Iran and Syria as well as the United States’ continued efforts to combat global terrorism. Continuing the Treasury Department’s […]
Brazil to Re-Open Baghdad Embassy
Brazil is to re-open its embassy in Baghdad this month 21 years after it was closed, Agencia Brasil, the Brazilian official news agency, reported on Tuesday. The country closed its embassy in Iraq in 1991 following the Iraq-Kuwait conflict, which put the diplomats in that country under risks. Even though for a long time there […]
UNDP and Shell Iraq Sign Partnership Agreement
The United Nations Development Programme (UNDP) and Shell Iraq have signed an agreement to implement a range of development projects in Southern Iraq. The four year partnership aims to increase the number of local area development activities, promote local small and medium enterprises and provide vocational training to respond to the private sector’s needs. “UNDP […]
US Embassy Announces Application Period for Civic Education and Leadership Fellowship
The U.S. Embassy in Baghdad is pleased to announce the Civic Education and Leadership Fellowship opportunity for Iraqi academics in the social sciences. The fellowship provides an opportunity for university teachers and scholars in social science disciplines from across the Middle East and North Africa to engage in four-month residencies at the Maxwell School for […]
DNO, Genel, Strike Oil at Tawke-16
Shares in Norwegian oil firm DNO International were up as much as 15% in intraday trading on Wednesday, following the company's announcement that it has stuck oil at its Tawke oilfield in Iraqi Kurdistan. Genel Energy, with which it shares the field, was up nearly 5% at one stage before falling back. The full text […]
Iraqi Firm Signs $245m Housing Deal in Basra
The Iraqi company 'al-Saqr al-Jareh' has won a $245 million contract to build 1,857 housing units in the northern outskirts of Basra city. Khalaf al-Badran, president of the Basra Investment Commission, said that the project is to be completed within five years. Basra province needs 200,000 additional residential units. (Sources: Basra Investment Commission, Bloomberg)
Iraq's Southern Oil Exports Jump
Oil exports from Iraq's southern ports have jumped by 150,000 bpd this month, according to shipping data tracked by Reuters. Exports from the al-Basra Oil Terminal (ABOT), Khor al-Amaya, and the new single-point mooring on the Gulf have averaged 1.81 million bpd in the first 19 days of March, up from about 1.66 million bpd […]
Polish Firm Wins $25m Redevelopment Contract in Kut
Local authorities in Wassit have commissioned a Polish company to implement a project to rehabilitate and develop residential areas in the city of Kut, according to Aswat al-Iraq. “The project, which will cost ID30.578 billion [$25.5 million] as part of the provincial development budget (PDB) for 2012, will include the rejuvenation of residential districts, extension […]