Iraq Future Energy 2011
The Iraq Future Energy Conference will be hosted in Istanbul, Turkey, from 26th September to 29th September. There is a full programme to demonstrate how energy and infrastructure companies can take a piece of the projects worth tens of billions of US dollars. Attendees can learn about the Ministry of Oil's four-year plan ending in […]
Iran Shelling of Iraq to be Halted by Capitalism
Iraqi businessmen in Kurdistan, the northern region of Iraq, are contemplating a boycott on trade with Iran unless Iranian shelling of Kurdish territory does not cease, reports Aknews. Kurdistan can bring about significant trade pressure. The head of Kurdistan's Exports and Imports Union (KEIU), Mustafa Abdulrahman, estimates that trade exchange volume is US$3bn per year. He […]
Iraq to Benefit from Libyan War
With ports and pipelines blocked in Libya, North Africa, and civil war moving into its sixth month, Iraq is set to benefit, says The National. Meanwhile, Reuters reports that foreign oil companies in Syria are reporting business as usual, despite escalating violence. "Iraq is going to boom," Erin Miller Rankin, a construction and project lawyer in […]
Green Energy, Medicine and Education
A Turkish company's proposals for new schools, rebuilding infrastructure, more local energy and medical facilities is likely to be accepted by the local government in the region of Wasit, south-east of Baghdad, reports Aswat al-Iraq. I.F. Spor's plans include wind power and health projects such as a cancer treatment centre. Other redevelopment projects in the […]
Investors Consider Iraqi Debt
According to a report in the Financial Times, investors are turning their attention to Iraq’s debt. In 2004, after the US invasion of Iraq, the 'Paris Club' of 19 western creditors agreed to forgive roughly 80% of the $37.2bn owed to them. This deal was used as a template for resolutions with other creditors and […]
Rising Nationwide Demand Cuts KRG’s Petrol Supplies
As demand for petrol in central and southern Iraq rises to cope with power shortages, the amount of fuel allocated to Kurdistan from Baghdad has been reduced by almost 65%, according to AKnews. Erbil’s fuel distribution director, Nuraddin Hamed, told the agency that while Erbil used to receive 1,600 million liters of petrol from the […]
UNHCR to build Homes for Returning Refugees
AKnews reports that the United Nations High Commission for Refugees (UNHCR) is currently constructing 1,000 new homes in Baghdad for Iraqi refugees abroad returning to their homeland, with further housing projects in the pipeline. The Iraqi Minister of Migration, Dindar Doski, told the news agency that the UNHCR’s housing projects came about after a call […]
‘Political Pressures’ Behind Delayed Telecom Probe Hearing
The parliamentary hearing of an investigation into five million unlicensed mobile phone lines distributed by Iraqi telecom giant Zain Iraq has been postponed because of “political pressure”, alleged Ihsan al-Awwadi of the parliamentary communications and information commission. Scheduled to be held on Monday, the hearing to confirm the allegations against Zain has been delayed until […]
Iraq Business News Goes Arabic
At Iraq Business News, we realise how important it is for our readers to have access to the best possible information on Iraq and the industries that operate there. So far, we have brought you the latest news in the English language only, but we are happy to announce that we are now able to […]
Iraq's Southern Exports Hit 6-month High
Reuters reports that Iraq's oil exports from its southern ports jumped last month to a six-month high, reflecting efforts by foreign oil companies to boost production. Exports from the Basra oil terminal and Khor al-Amaya averaged 1.77 million bpd in July, shipping data tracked by Reuters showed. That is the highest since 1.8 million bpd […]
Broadway Malyan Completes Masterplan for $10bn Sadr City
International architecture, urbanism and design practice Broadway Malyan has delivered the concept masterplan for the ‘10×10’ project in Iraq, involving a 17km² extension of Sadr City, Baghdad, and the creation of New Sadr City. The practice’s masterplan is a major milestone in the realisation of the project, named 10×10 because of its predicted $10 billion […]
WesternZagros Amends Production Sharing Contract in Kurdistan
WesternZagros Resources has announced that it has finalized an agreement with the Kurdistan Regional Government of Iraq ("KRG") and Talisman (Block K44) B.V. ("Talisman") to amend the original Production Sharing Contract ("Original PSC") that governed the Company's exploration activities in the Kalar-Bawanoor Block in Kurdistan. The agreement divides the contract area of the Original PSC […]