Ford eyes Iraq Expansion
"The biggest opportunity coming up is Iraq. The stability and security is still an issue but that is a growth market, especially as hopefully the situation improves and they have great plans to increase oil output. It'll be a long-term opportunity, but it's out there. We see it as a big opportunity longer term," said […]
Iraq signs $349m Power Deal with Greece's Metka
Reuters reports that Iraq signed a $349 million contract with Greek power plant builder Metka, a subsidiary of the Mytilineos Group, on Wednesday. The Shat-Al-Basra Power Plant Project will be a gas-fired, 1,250-MW power plant in southern Iraq. It comprises 10 units of 125 MW each, which were purchased from General Electric in a contract […]
Lafarge to Triple Cement Production at Karbala
Lafarge plans to triple cement production over the next two to three years at its plant in Karbala, according to Bloomberg. Eric le Blan, Acting Chief Executive Officer of Lafarge's partner MerchantBridge, told the agency that production at Karbala would increase from 576,000 tons of cement per year to at least 1.8 million tons by 2013 […]
British Companies Urged to Act Now at Middle East Association Iraq Conference
British companies need to move fast if they are to gain a foothold in Iraq and avoid losing out to their competitors. This was the clear message given at the Middle East Association’s ‘Iraq: Untapped Opportunities’ conference held on 22nd November at the Dorchester Hotel, London. Supported by the National Investment Commission of Iraq, UK […]
Hermes Datacommunications Receives Trading Licence
Hermes Datacommunications International Limited, a key specialist providing Wide Area Network communications to the upstream oil and gas industry has announced that they have received their trading license for Iraq. The Hermes Datacomms Iraq branch has been approved by the Republic of Iraq Ministry of Trade. By obtaining this license, Hermes Datacomms further secures its […]
Weekly Security Update for 24th November 2011
Levels of violence rose in Iraq over the past week, particularly in Mosul and the central provinces. There was a rise in bomb attacks, a steady number of shootings and at least two injuries caused by indirect fire (rockets and mortars). At least one person was kidnapped in the north of the country. The head […]
Excellent Opportunities, but the Door is Closing
The ExxonMobil controversy has dominated the business headlines in Iraq over the past week, and while it is very significant and politically sensitive situation, we should not allow it to distract us from the big picture -- the accelerating progress in development of the country. Three quotes from this week's 'Iraq: Untapped Opportunities' conference in […]
What Iraq can do to Encourage Business
At the 'Iraq: Untapped Opportunities' conference in London, Charles Hollis (pictured), Director General of the Middle East Association asked a panel of leading businessmen to make one suggestion each as to how Iraq can improve its development efforts. Hans Nijkamp, VP and Country Chairman for Iraq at Shell, said the authorities need to make a […]
FT Interviews KRG Natural Resources Minister
The Financial Times has interviewed the Natural Resources Minister of the Kurdistan Regional Government (KRG), Dr Ashti Hawrami, about the future direction of the region's oil industry. Please click here to see the full video.
Baghdad Considers Action Against ExxonMobil
Dr Hussain al-Sharistani, Iraq’s deputy prime minister responsible for energy, told reporters in London that Baghdad is considering its action against ExxonMobil for "breaching the law" by entering into an exploration agreement with the Kurdistan Regional Government (KRG): "ExxonMobil has written to the Iraqi Government about this, and they have received the response from the […]
Kurdistan Declines to Confirm Shell Contacts
At the 'Iraq: Untapped Opportunities' conference in London on Tuesday, Padraig O'Hannelly, for Iraq Business News, pressed the Chairman of the Kurdistan Board of Investment, H.E. Herish Muharam, on reports that the KRG had been in discussions with Shell: IBN: "Is it true that Shell was in discussions with Kurdistan relating to exploration contracts, and […]
Video: Exxon-KRG Deal Escalates Tensions
CNN's Arwa Damon brings this report from Kurdistan on the continuing struggle between the Kurdistan Regional Government (KRG) and Baghdad's Ministry for Oil over the right to grant oil contracts in the Kurdish region. (Source: CNN)