ShaMaran Finishes Testing at Pulkhana-9
ShaMaran Petroleum has issued an operational update on the Pulkhana-9ST2 geological sidetrack: The Pulkhana-9 original hole reached a Total Depth ("TD") of 2333 meters in the Cretaceous Balambo formation. A comprehensive testing program of six well tests (“DST”) recovered oil from four separate reservoir intervals, including two new reservoirs that predrilling had not been recognised […]
Sweden Enhances Presence in Iraqi Kurdistan
In an effort to enhance cooperation and trade relations with the Kurdistan Region, the Swedish Minister of Health and Social Affairs, Mr Göran Hägglund, visited the region with a business delegation this week. During his visit, Sweden announced that it will upgrade its diplomatic presence from an honorary consulate to an Embassy Office. The visit […]
Iraq Stock Market Report
Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 15th December 2011). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,500 / $1,664, +2.6%. The number of weekly traded shares was 11.5 bn and the weekly trading volume was ID30.4bn […]
Iraqi Inflation Reported at 5%
The Statistics Department of Iraq's Ministry of Planning reported on Sunday that that prices rose by 5% for the period November 2010 to November 2011, according to Aswat al-Iraq. Monthly inflation was "increased by 0.1%". The report concentrated on the commodities and services for consumption, including foodstuffs, beverages, clothes, shoes, housing, fuels (benzene, gasoline), household […]
Towards Full Political Disintegration in Iraq?
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. […]
EIC O&G Trade Mission to Basra - Deadline Approaching
The EIC is organising an oil and gas trade mission to Basra in Iraq. Missioners will have the opportunity to attend organised group meetings with key local players, as well as incorporating a briefing meeting presented by qualified speakers with in-market experience and the opportunity to meet with local companies. Why Iraq? As Iraq works […]
Iraqi Entrepreneurs & Novelty: Coming of Age
By T. Keyzom Ngodup, co-founder at Ideas sYnergy. Ideas sYnergy is Iraq’s first multiple bottom line advisory company committed to inclusive economic and social development through market-based solutions that help build and scale youth-driven innovative ideas for social change. The youth (ages 18 – 34) constitute over 50% of Iraq’s 32 million population, with over […]
Vinsons, Cleary Advising Iraq on $17bn Gas Deal
Vinson & Elkins and Cleary Gottlieb Steen & Hamilton are advising Iraq’s oil ministry in a $17.2 billion deal with Royal Dutch Shell and Mitsubishi to develop the infrastructure required to process natural gas in the southern part of Iraq. The transaction agreements, which were signed on 27th November, came as Iraq attempts to rebuild its […]
Shaw Wins Feasibility Study on Basra Refinery
The Shaw Group Inc. (NYSE: SHAW) has announced that it has been awarded a contract by the South Refineries Company, which is part of the Republic of Iraq’s Ministry of Oil, to provide a feasibility study for the rehabilitation of its 140,000 barrels per day refinery in Basra, Iraq. The study will assess the current […]
ProSep Awarded $6.5m Contracts in Iraq
ProSep Inc. (TSX: PRP) has announced that it was awarded three contracts with a new customer operating in Iraq, for the design and supply of a produced water package and water deaeration and fuel gas treatment systems. Together, these contracts represent a value of $6.5 million. The equipment provided will be installed at the same […]
Iraq to Host 20 International Trade Fairs in 2012
Iraq will host 20 international exhibtions and trade fairs in 2012, according to AKnews. Sadiq Sultan, the general manager of the Exhibtions Company in the Iraqi Trade Ministry, said: "The exhibitions attract international companies to enter the Iraqi market, especially in the fields of construction, agriculture, industry and investment." Sultan spoke on the occasion of […]
Retired Army Major Jailed for Iraqi Money Laundering
A retired major in the U.S. Army was sentenced today to 24 months in prison for engaging in money laundering of criminally derived property totaling $400,000, which he received from a contractor following his deployment to Kuwait, announced Assistant Attorney General Lanny A. Breuer of the Criminal Division. Charles Joseph Bowie Jr., 45, of Georgetown, […]