Exxon Reaches Deal on West Qurna Payments
ExxonMobil has reportedly reached an agreement with Baghdad to be paid in oil for work on the huge West Qurna-1 oilfield. According to the report from Reuters, foreign oil companies involved in Iraq's oil expansion generally prefer to be compensated for capital expenditure and service fees in oil, because cash payments are more complicated to […]
Kurdistan to Produce 400,000 bpd by End-2012
AKnews reports that Iraqi Kurdistan will be able to produce 400,000 barrels per day (bpd) of crude oil by the end of the year, an increase of 128% from current 175,000 bpd. "The successful policies of the KRG has made it possible for the region to start from scratch and is now capable of produce […]
Gazprom Awards Badra Analysis Contract to Expro
Leading international well flow management company Expro has secured three further contract wins in Iraq. The trio of contract awards adds to the recent contract success with ENI. Expro will undertake analysis of more than 100 PVT studies in a contract award with Gazprom in the Badra field situated close to the Iranian border. Gazprom […]
Qatar Airways Announces New Iraq Routes
Qatar Airways has announced further expansion of its rapidly-growing international network with five new passenger routes, more cargo services and capacity increases to a number of destinations served direct from the airline’s Doha hub. Among the new routes are two new destinations in Iraq – the northern city of Erbil and capital Baghdad. Both routes […]
Three Stadiums to Be Built in Baghdad
Three sports stadiums are set to be built in Baghdad under plans announced by Kamel Braihi, the director of the engineering and technical department in Iraq's Ministry of Youth and Sports, reports AKnews. He said the three stadiums, to be built to international standards, will be constructed in Sadr City, Rusafa and Tajiyyat. The contract for […]
Iraq to Increase Oil Exports to Jordan
The Iraqi Oil Ministry announced on Sunday that it sdecided to implement a deal made with Jordan in August to raise the level of oil production to between 10,000 and 15,000 bpd. Falah al-Amiri, the Director General of SOMO, the State Oil Marketing Organization, told AKnews that the Iraqi government decided to form a committee […]
Gulf Keystone Update - Shaikan-4 Results 'Excellent'
Gulf Keystone has just issued an update on its ongoing exploration and appraisal programme in the Kurdistan Region of Iraq, which includes the Shaikan block, a major discovery with independently audited gross oil-in-place volumes of between 8 billion barrels to 13.4 billion barrels calculated on the P90 to P10 basis, with a mean value of […]
Iraq Aims to Increase Gold Production
According to Iraq's own data, aside from possessing the world's second largest crude oil reserves, the country also possesses important gold and diamond reserves. The Iraqi government is thus hopeful that gold mining can be an increasingly profitable venture for the country. According to officials in Baghdad, Iraq has huge gold producing potential. Nevertheless, senior […]
Gulftainer's Iraq Container Terminal at Umm Qasr
In addition to the Iraq Container Terminal in Umm Qasr port, Basrah Province, the Gulftainer Group is fully engaged in Iraq aiming to provide the port, transport and logistics links so necessary to assist in ef cient redevelopment – all the way from Zakho in the North (on the Turkish border) to Umm Qasr in the […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 8st March 2012). Please click here to download a table of listed companies and their associated ticker codes. ID1,343 / $1,474, +0.3% (weekly change). The number of weekly traded shares was 16.1 bn and the weekly trading volume was ID25.8bn ($21.8mn). ISX […]
ABB Wins Generator Deal at Shell/Mitsubishi Gas Project
Shell has announced that it has granted a $63 million contract to build an electricity generation plant for its gas capture project southern Iraq to Swiss engineer ABB Ltd. Jasser Hanter, general director of the Shell gas project, told reporters that ABB will build two 25 megawatt power plants at Khor al Zubair. The $17 […]
Kurdistan President Tasks New PM to Form Cabinet
Kurdistan Region's President Masoud Barzani on Wednesday, 7 March, confirmed Nechirvan Idris Barzani as the new Prime Minister of the Kurdistan Regional Government and tasked him to form the 7th Cabinet. This follows the decision on February 17 by the Kurdistan Parliament to nominate Nechirvan Barzani for the post of prime minister and Imad Ahmed […]