Hyundai to Make Cars in Iraq
Iraq's state-owned General Company for Car Manufacturing has announced its intention to sign a contract with the South Korean Hyundai Company to construct a complete car manufacturing line within 3 years, reports Aswat al-Iraq. The Iraqi company has already built up special car assembly and manufacturing lines in its efforts to expand the stages of […]
Romanian Company wins EUR 3m Contract in Iraq
Romanian company Syscom 18 has won two orders, totalling EUR 3 million, to provide metering skids for petroleum products in Iraq and Bahrain. The products are to be delivered by the end of this spring. Irak and Bahrain chose the Romanian company instead of companies from India and Pakistan, which are the main suppliers for liquids […]
Iraq to Clamp Down on Security Contractors
Reuters reports that the Iraqi government had submitted a bill to parliament that would impose new restrictions on security firms to reduce the number of contractors and their private arsenals. "What the Interior Ministry worries about is that there is a giant army of these companies on the streets with their weapons," Deputy Interior Minister […]
Real Estate Board Could Help End Housing Crisis
AKnews reports that Iraq's policy makers are working on a draft bill for the creation of a real estate board to make it easier for members of the public to build their own houses. Abdul-Hussein Abtan, a member of the acting Economic Committee, said it hopes to allow the construction of thousands of residential units […]
Greek Ambassador Impressed with Progress in Kurdistan
On his first visit to Kurdistan, the Greek Ambassador to Iraq, Dr Mercourios B. Karafotias, said that he was surprised to see the level of progress that is being made in the Kurdistan Region. In his meeting with President Masoud Barzani on Tuesday, the Ambassador assured the President that the Hellenic Republic wants to play […]
'Rightsizing' the US Mission Iraq
The following is a transcript of a briefing by Thomas Nides (pictured), Deputy Secretary for Management and Resources at the US State Department, on Wednesday 8th February, regarding the reduction of personnel at the Iraqi embassy in Baghdad: MS. NULAND: Thank you, Operator, and thanks to all of you for joining us. We are pleased today […]
Korea's SK joins Oil Auction after Kurd Oilfield Sale
Reuters reports that Iraq has allowed the privately-owned Korean firm SK Innovation to bid in its fourth energy auction, after the company sold its stake in the Bazian block in Kurdistan. The stake was sold to the state-owned Korea National Oil Corporation (KNOC), which was already barred from participating due to its stakes in both […]
Gulf Keystone Appoints Advisers on Akri-Bijeel Sale
Gulf Keystone has announced that it has appointed Strand Hanson Limited and Perella Weinberg Partners UK LLP as Joint Corporate Advisers with immediate effect. Working alongside Strand Hanson, Perella Weinberg Partners will be jointly responsible for coordination of and advice on the sale of the Company's 20 per cent working interest in the Akri-Bijeel block […]
Direct Flights Between Iraq and India
Indian aviation authorities have approved a plan by Iraq’s national carrier, Iraqi Airways, to operate four return flights every week to Baghdad — two each from Delhi and Mumbai. “The first flight will be launched on February 12,” Bharat Bhushan, Director General of Civil Aviation, told The Indian Express. An Indian ministry official said: “We […]
New Detailed Map of Northern Iraqi Oil and Gas
WesternZagros Resources has just published the best publicly-available map of oil and gas exploration activity in Northern Iraq that we have seen so far. It includes recent activity and current forecasts for all fields in the area, and can be freely accessed by clicking here.
Weekly Security Update for 9th February 2012
Levels of violence fell in Iraq last week. At least 18 people were killed and 48 injured in nationwide incidents, making it the quietest week in at least two months. A total of 26 bomb attacks left six people dead and 41 injured. They were mainly low-yielding in terms of casualties and were likely designed […]
Hormuz Tensions and Iraqi Oil Exports
Iraq, and the entire Gulf region is nervously contemplating the risk of possible Iranian action to close the Strait of Hormuz in response to sanctions imposed by the US and EU. And that nervousness is echoed around the world, as something of the order of a quarter of the world's oil supply is shipped through […]