Oil Output to be Increased at al-Ahdab
Iraq's Oil Ministry has formally approved a proposal to raise production at the al-Ahdab oil field to 200,000 bpd. The Chinese National Petroleum Company (CNPC) that started exploring the field in June. It is considered to be CNPC's largest oil investment in the Middle East and the first oil field to be newly explored in […]
Petrel to Revise Iraq Strategy?
In its interim results, announced this morning, Petrel Resources said it may review its strategy in Iraq following failure to qualify for bidding in the 4th energy licensing round: After 14 years in Iraq it continues to frustrate. The economy remains fragile, as does the security situation. There is still no hydrocarbon law. As such, […]
Managing Oil & Gas Exploration Risk in Iraqi Kurdistan
Simon Hatfield, CEO of WesternZagros Resources, presented at the World Independent and Junior Oil and Gas Congress yesterday in London. Please click on the following pages to see a copy of his presentation on "Managing Oil and Gas Exploration Risk in the Kurdistan Region of Iraq":
Republic of Iraq Financial Sector Review
A new World Bank report released today, Republic of Iraq Financial Sector Review, highlights that while reforms are ongoing in the financial sector, the country needs to push further to ensure that a system still characterized by state-domination and lack of transparency reaches its full potential. The report stresses the critical importance of the financial […]
President Talabani Promises to Protect Investors
Iraq is striving to build a democratic State anchored in peace and the rule of law, with all communities living in harmony, irrespective of their sectarian, ethnic or factional affiliation, the country’s President, Jalal Talabani, told the General Assembly on Friday. “This is the basis for the path which we are moving on and continually […]
KRG Representation Attends UK Party Conferences
The Kurdistan Regional Government is for the seventh year running attending the annual conferences of the three main British political parties. This week Bayan Sami Abdul Rahman, the Kurdistan Regional Government's (KRG) Representative to the UK, attended the Liberal Democrats party conference in Birmingham. The Liberal Democrats have been in government for over a year […]
Is Iraq's Emerging Middle Class Really Helping Their Nation?
In recent years, Iraq has undergone profound economic and social transformations. A new middle class is now emerging. In this article from Niqash, An Iraqi economist discusses how helpful that group is, in changing Iraq for the better. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq […]
Iraq Stock Market Report
Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 22nd September 2011). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,666 / $1,848, +1.6% (weekly change). The number of weekly traded shares was 2.7bn and the weekly trading volume was […]
Iraq's Biggest Construction and Electricity Trade Fair
Last week Erbil hosted for the fourth time the Project Iraq construction trade exhibition, together with the Elenex Iraq energy and electricity show. This year's construction fair was the largest so far, attracting exhibitors from 20 countries and thousands of visitors. Project Iraq 2011, the 4th International Trade Exhibition for Construction & Environmental Technology for […]
Basra's $1.3 billion Development Plan
The Chairman of the Development Committee of Basra Council announced on Friday that he had completed a 1.58 trillion Iraqi dinar [$1.3 billion] plan for the province. Mustapha Attiya told Aswat al-Iraq that the figure “covers the allocations granted for Basra Province, including the Region’s development budget, as well as the revenues of the petrodollar […]
Shahristani: Electricity Crisis Will End in 2013
Energy Minister and Deputy Prime Minister Hussein al-Shahristani has promised that Iraq's electricity crisis will end in 2013. AKnews reports that he said only a few more energy plants were necessary to end the electricity shortage. "Iraq will have approximately 7,000 MW more after the completion of the Zubaydiah plant, the Khairat plant in Karbala, […]
Another Parliamentary Defeat for Maliki
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. […]