UK Firms Invited To Explore Opportunities In Kurdistan
The Middle East Association has this message for UK businesses looking for growth opportunities: Dear Members and Friends, The MEA, in partnership with UK Trade & Investment, Invest Northern Ireland and the Kurdistan Regional Government, will be leading a Trade Delegation to Iraqi Kurdistan from 23rd to 28th October to coincide with the seventh Erbil […]
Who’s paying for Iraq’s hotel renovations?
Last August, the government announced it was making available a total of US$ 300 mn to renovate six Baghdad hotels in preparation for the Arab League Summit. The six—the ISX-listed Palestine (HPAL), Babylon (HBAY), Baghdad (HBAG), Mansour (HMAN), and Ishtar Sheraton (HISH) hotels, and the unlisted Rashid Hotel—were to receive 75% of the new funding […]
Iraq beyond 2011: Prosperity or Turmoil?
By Tariq Abdell, Iraq’s political risk analyst, Founder & CEO of Mesopotamia Insight. The opinions expressed here are those of the author, and do not necessarily reflect the views of Iraq Business News. The recent upsurge in violence across Iraq ( sticky bombs, car bombs, roadside bombs, targeted assassinations, suicide bombers, prison breaks, etc...) underscores, irrefutably, […]
Dozens Of Countries Flock To Iraq
Just this week, we have seen a United Arab Emirates firm invest in a new Iraqi oil refinery, a German company discussing investing in Basram, and a Korean company building 25 power stations. On top of that, there have been Iranian gas deals amd Saudi Arabian interest in Iraqi telecoms, plus both British and Turkish […]
Iraq Oil: Highest Production In Decades
As widely reported, anticipation is building around the current preparation by the Iraqi Government for the auction of oil and gas exploration in January 2012. The auction will tender 12 exploration blocs covering 31,500 square miles and will be awarded to international companies interested in investing in the region. With Iraq seeking increasing support from […]
$43bn Investment In Iraq In 2010
The 'Investment in Iraq' Summit recently concluded in Dubai and organized by Range Hospitality highlighted that Iraq has some of the most favorable foreign investment laws in the Middle East, making Iraq one of its most lucrative markets. The summit witnessed keen participation from over 100 decision makers, entrepreneurs and investors representing diverse business backgrounds. […]
Iraq To Stop Being World's Garbage Dump
The three-day Conference on the Economic Future of Iraq began on Tuesday with representation from the World Bank and the Iraqi parliament. Parliament Speaker Usama al-Nujaifi said that "Iraq has turned into the world's garbage dump through bad commodities that were imported, a matter would have not existed were it not for legislative shortcomings." Yet […]
Tension Mounts At Sterling Energy
Sterling Energy released an update on Tuesday revealing that important test results are imminent. Here is the statement from the Middle East and Africa oil and gas exploration and production company: Kurdistan Operations Update Sterling (AIM: SEY), the independent oil and gas exploration and production company with interests in the Middle East and Africa, provides […]
Gulf Keystone: Another Encouraging Update
Here is the full text of Gulf Keystone Petroleum Ltd's latest update from yesterday: Gulf Keystone today provides an update on its activities in the Kurdistan Region of Iraq. Shaikan-2 Further to the Company's announcement on 22 March 2011, the Shaikan-2 deep appraisal well has now drilled to a depth of 2,655 meters. The well […]
Gulf Keystone: More Good News For Oil Exporters
Gulf Keystone, the oil and gas exploration and production company with operations in the Kurdistan Region of Iraq, announced on Monday that the Kurdistan Regional Government (KRG) has asked it to start exporting 5,000 barrels of oil per day. This happens just days after the Iraq central government released the first payment to the KRG after […]
Government Concedes Power To Speed Projects
It is a story that could fit in the national newspapers of any country in the world: "central government projects delayed". Yet Iraq seems determined to do something about the delays to these development projects, reports AKnews, as the government is voluntarily giving up central control to local councils to oversee the projects' completion, after […]
Strengthening Iraq
The U.S. Department of State has made a statement about the "substantial investment and great sacrifices" that the United States has made to "bring about progress": Since 2003, the United States has been an active partner to help Iraqis strengthen their democracy, build civil society, improve security, and re-integrate fully into the regional and global […]