WesternZagros Updates on Kurdistan Operations
WesternZagros Resources Ltd. (TSX VENTURE:WZR) provided an operational update for its drilling operations at Mil Qasim-1 and Kurdamir-2, and the continued ramp up of production from the Sarqala-1 extended well test. Sarqala-1 Extended Well Test Production from the Sarqala-1 extended well test has continued to increase with the addition of tank capacity and the construction […]
Iraq Stock Market Report
Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 8th December 2011). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,462 / $1,622, +1.5%. The number of weekly traded shares was 7.4bn and the weekly trading volume was ID12.4bn ($10.6mn). […]
Iraq "Won't Cancel ExxonMobil Deal"
Nouri al-Maliki has said that the iraqi Government has no intention to cancel the contract with ExxonMobil to develop the West Qurna 1 oil field. "We haven't cancelled its contract in the south," said Mr. Maliki in an interview with The Wall Street Journal. "We are looking for a way for [ExxonMobil's] other contracts in […]
DNO ex-Chairman Tries to Block Merger
DNO International has announced that told investors that Petrolia Invest AS and Erik J. Frydenbø have filed a request for an injunction with the Oslo District Court seeking to block the completion of the merger with RAK Petroleum PCL's MENA operating subsidiaries. Petrolia Invest AS is a subsidiary of Petrolia ASA, a company controlled by […]
Kurdistan Market Briefing and Trade Mission (UK)
The Middle East Association, in partnership with UK Trade & Investment and the Kurdistan Regional Government, will be leading a Trade Delegation to Iraqi Kurdistan in the spring of 2012, visiting Erbil and Sulaymaniyah. Mission Participants will have the opportunity to meet government ministers, senior business leaders, and the local Chambers of Commerce. The Kurdistan […]
Avnet brings “HP Networking Academy” to Iraq
Avnet Technology Solutions, an IT solutions distribution leader and an operating group of Avnet, Inc. (NYSE: AVT), will hold a special training program “HP Networking Academy” in association with HP Networking division. As part of Avnet’s Value Add program the training is designed to enrich the skill set of channel partners and to update them […]
Contract Signed for Basra Housing Project
Basra Council has signed the contract for the construction of 12,000 housing units in the Shatt al-Arab district. The local government allocated 1,600 acres to the project, which is expected to be started within the month and completed within two years. It is to be carried out by a UAE-based company named Kika (?). The […]
CEO's Stake in Gulf Keystone Questioned
Todd Kozel, the founder and chief executive officer of Iraq-focussed Gulf Keystone Petroleum Ltd. (GKP), said he may have to pay a $6 million fine to U.S. tax authorities because he didn’t declare overseas accounts and trusts. According to the report from Bloomberg, the penalty came to light when his attorneys listed it among his […]
Iraq Buys 400,000 Tons of Wheat
Bloomberg reports that Iraq bought 400,000 metric tons of wheat from Russia, Australia and Canada. The amounts were: 150,000 tons from Canada; 150,000 tons from Russia; and, 100,000 tons from Australia, Hassan Ismail Ibrahim, director general of the Grain Board, told Bloomberg by telephone. The deadline for the tender expired on 4th December. Iraq plans […]
Video: Oil Returning Kurdistan to Former Glory
According to this video report from CNN, Kurdistan is in the midst of an economic boom that could make it an economic gateway to Iraq: (Source: CNN)
New Iraqi Oil Prices for January
Iraq’s State Oil Marketing Organisation (SOMO) has adjusted its official selling prices for its Basra Light and Kirkuk crude grades for January. In common with some other countries, Iraq’s oil is priced relative to regional benchmark prices: For shipments to US, contracts are priced are relative to the Argus Sour Crude Index (ASCI); Shipments to […]
Alstom Signs €400m Power Contract in Iraq
Patrick Kron, Chairman and Chief Executive Officer of Alstom, and the Iraqi Vice Minister of Electricity, His Excellency Salam Kazzaz, signed on 11 December, in the presence of His Excellency Karim Aftan El Jumaily, Minister of Electricity, a contract worth approximately €400 million to build the 728 MW Al Mansuriya gas-fired power plant in the […]