Helping Your Countrymen Succeed in Iraq
US Secretary of State, Hillary Rodham Clinton, didn't mince her words: "According to the IMF, Iraq is projected to grow faster than China in the next two years. Now, let me repeat that, because when I read it I said, okay, are you sure because we always think of China as being the juggernaut? But […]
Lukoil to Explore in Iraq?
Lukoil is interested in seeking exploration licenses in Iraq, according to a report from Bloomberg. The company's Chief Executive Officer, Vagit Alekperov, met Iraq's Oil Minister, Abdul Kareem al-Luaibi [Elaibi], in Moscow on Wednesday. Alekperov and al-Luaibi also discussed the West Qurna-2 project, and development of infrastructure to ship oil from the field. (Source: Bloomberg)
Iraqi Army to Guard Pipelines and Refineries
Iraqi Prime Minister Nuri al-Maliki has ordered the army to increase its protection of the country’s pipelines and refineries. “Any breaches will cause problems at the Dora [Doura, Daura] and Baiji [Bayji] refineries (pictured) and the pipelines feeding the power stations,” Maliki said yesterday during a televised Cabinet meeting on the government’s performance during its […]
Exiled TBI Boss Denies Allegations - Open Letter from Bank's Advisor
The exiled former head of the Trade Bank of Iraq (TBI), Hussein Al-Uzri [Hussein al-Azri], has denied allegations of corruption and mis-management in a telephone interview with Reuters. "It's about control of this bank," the U.S.-educated banker, aged 48, told the news agency in his first media interview since fleeing Iraq. "Having control of the […]
Baghdad Co Wins $130m Najaf Power Contract
According to a report from Bloomberg, the $130 million [150 billion Iraqi dinar] contract to build a 500-megawatt power station in central Iraq has been won by the Baghdad Company for Gas Turbines Ltd. The privately owned company was founded in 1993, and re-registered in 2003. The company is scheduled to build the natural-gas fired […]
Kuwait to Open Consulates in Erbil and Basra
Kuwait will open consulates in Erbil and Basra in the next few days in an effort to increase the country’s investment in the regions, the Kuwaiti Embassy in Baghdad said today. Kuwait's ambassador to Iraq Ali al-Muamman said: "Kuwait is working to expand diplomatic and economic relations with Iraq by opening consulates in various Iraqi […]
Plans Changed for Four New Power Stations
The Iraqi government energy committee decided to cancel plans for the construction of four power plants to boost power-generation capacity by 2,750 megawatts, according to Bloomberg. The bids were for a 1,250-megawatt plant near Basra, and three 500-megawatt plants in the cities of Samawa, Diwaniya and Amara. “These proved to be non-profitable for the Electricity […]
Weekly Security Update for 15th June 2011
Overview Levels of violence rose in Iraq last week, making it the worst recorded by AKE since the national elections were held in March 2010. There were over 90 separate attacks documented, mainly in Baghdad and the districts surrounding it, although the southern city of Basrah also saw a rare suicide attack, potentially conducted by […]
Iraq's Missing $6.6bn - Theft Not Ruled Out
The Los Angeles Times reports that theft has not been ruled out by auditors trying to trace $6.6 billion [7.9 trillion Iraqi dinars] of missing cash. A total of $12 billion in shrink-wrapped bricks of $100 bills was flown to Iraq in 2003 and 2004 to pay for public services, contractors, and general reconstruction. More […]
Iraqi Govt Allocates $927m to Electricity
The Iraqi government has approved only $927 million [1.1 billion Iraqi dinars] in the 2011 budget to tackle the electricity shortage in the country. In February, the Ministry of Electricity had demanded $6 billion (6.99 trillion Dinars) to resolve the energy crisis. On top of that an investment of between $3 billion and $4 billion […]
Govt to Dig 1,000 Water Wells a Year
The Iraqi government says it will dig 1000 wells every year to address the drought that has depleted much of Iraq’s water resources. Director of planning at the Ministry of Water, Ali Hashim, said it has completed 500 wells throughout the Iraqi provinces. "The ministry intends to make more effort to exploit groundwater for human […]
Scania to Assemble Trucks in Iraq
Adnan al-Sharif, head of the state-owned car manufacturing company, has told Azzaman news agency that Swedish truck manufacturer Scania is to set up an assembly line in Iraq for the production of 800 trucks a year. Sharif did not say how the deal will be financed, but he said his company aspires to become Scania’s […]