Gulf Keystone Issues Operational Review
Gulf Keystone, whose shares are up 75% over the past six weeks, has issued its Operational Summary for the First Half of the year: Kurdistan Region of Iraq · 150% (P90) - 45% (P10) increase in gross oil in place numbers for the Shaikan discovery with a range of 4.9 billion (P90) to 10.8 billion (P10) barrels, following independent evaluation […]
Weekly Security Update for 14th September 2011
Levels of violence rose slightly in Iraq over the past week, with attacks concentrated in Baghdad and the districts surrounding it, as well as the two northern cities of Mosul and Kirkuk. There was also a slight spike in activity around the town of Dujayl in Salah ad-Din province. While bombings around the country […]
Possible Mini-Auction for Nassiriyah Oilfield
Reuters reports that four international oil companies(IOCs) have shown an interest in developing the Nassiriyah oilfield in Iraq. A senior oil official said on Sunday that Iraq may hold a mini-auction for the largely undeveloped field, following a number of unsucessful attempts to reach agreement with foreign firms. Talks with a Japanese group led by […]
South Oil Company and BIC Discuss Investment
The chairman of the South Oil Company (SOC), Mr. Dhiaa Al- Mousawi, visited Basra Investment Commission (BIC) last week and met its new chairman Mr. Khalaf Al- Badran. They discussed the possible means of creating joint cooperation in order to reactivate the investment opportunities in a step to develop investment in Basra. The chairman of […]
Jordanian Companies in Kurdistan to Double by End-2011
The Kurdistan Regional Government's Minister of Trade, Sinan Chalaby [Chalabi], told AKnews that the number of Jordanian companies in Iraqi Kurdistan is expected to double by the end of the year. Currently 50 Jordanian companies do business in the Kuristan Region. According to Chalabi, this figure is expected to increase to 100 by the end […]
Turkish Businesses Invited to Tender for $7bn Power Deal
Turkish entrepreneurs have been invited to bid in a 6,000 megawatt electricity grid tender with a total value of $7 billion in northern Iraq, the Habertürk daily has reported. The tender for the construction of the grid is due to be open for bids on Thursday. According to the Turkish daily, the invitation to participate […]
Dr Ali al-Dabbagh Speaks with Iraq Business News
Minister Ali al-Dabbagh, Iraqi Government Spokesman, was interviewed by Padraig O'Hannelly for Iraq Business News at last week's Iraq Mining 2011 conference in London. In this first part of the interview, Dr al-Dabbagh discusses the controversial Mubarak port: Iraq Business News: Firstly, Dr Ali al-Dabbagh, thank you for agreeing to speak to us. I'd like […]
Iraq Reworks Fees for 4th Energy Auction
Iraq's fourth auction for exploration rights will offer international energy companies a revised remuneration fee formula designed to benefit bidders while encouraging them to minimise costs, according to Reuters. Abdul-Mahdy al-Ameedi, head of the oil ministry's contracts and licensing directorate, told the oil ministry's roadshow in Amman, Jordan, that the ministry has made some alterations […]
Electricity Ministry Studies Offers for 7 Power Grids
A technical committee at the Iraqi Electricity Ministry is studying the offers by international companies to set up power grids in seven Iraqi provinces, according to AKnews. A Ministry spokesman, Musab al-Mudarres, told the agency that the Ministry has began studying eight offers from international companies which hope to establish power grids in Babel, Kirkuk, Nineveh, […]
Baroness Nicholson Apologises for British Visa System
Baroness Emma Nicholson, Executive Chairman of the Iraq-British Business Council (IBBC), has apologised for the complexity and inefficiency of the British visa system. Addressing the opening of the Iraq Mining 2011 conference in London, the Baroness described the visa system as an inhibitor rather than a facilitator of business interests. Several Iraqi delegates to the […]
UK Minister Expresses Concern on Assassination of Iraqi Journalist
The United Kingdom's Minister for the Middle East, Alistair Burt (pictured), has described the assassination of an Iraqi journalist as deeply concerning, saying it threatened to undermine hard won freedoms. Speaking after a meeting with the Iraqi Human Rights Committee on Tuesday, he said: "I was shocked and saddened to hear of the assassination of […]
Ex-Iraq Official Slams Leaders over Graft
Iraq's former anti-corruption chief slammed its leaders Monday, describing graft as "part of the struggle for power", according to a report from AFP. Rahim Hassan al-Uqailee [Judge Rahim al-Akili; al-Ugeily], who last week stepped down as head of Iraq's Integrity Commission, sharply criticised interference in his inquiries, and said he had lost political support for […]