Parliament Approves Three Vice-Presidents
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. The opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. […]
New Conference on Mining Opportunities in Iraq
Iraq Mining 2011, a new international exhibition, conference and trade fair for the mining, mineral and material industries in Iraq, will be held from 7th to 8th September in the Royal Garden Hotel in London. THE AIM To facilitate constructive dialogue and exchanges between all the key players for rebuilding world-class mining, mineral and material […]
Acquirers unlikely to overpay for Iraqi banks
May 12 was the last day of trading for Mosul Bank (BMFI) ahead of its proposed merger with Union Bank (BUOI). The stock closed up 7% bringing its year-to-date gain to 29%. BUOI ended the day unchanged and is up only 12% year-to-date. While the deal is being described as a merger, it would in […]
SNC Lavalin Wins $13.5m Iraq Contract
Reuters reports that Iraq has signed a consultancy contract valued at around $13.5 million with Canada's SNC Lavalin Group (SNC.TO) for a strategic oil pipeline project. "Today we have signed a contract with an international consultancy company to execute an important and vital project, which is an oil export facility," Oil Minister Abdul-Kareem Luaibi said […]
Anti-Corruption Measure Sparks Constitutional Confusion in Iraq
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. The opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. […]
British Companies Considering Iraq
UK major companies and businesspeople are seeking to develop business cooperation with their Jordanian and Iraqi counterparts, an official from the British embassy in Amman said on Monday, according to a report from AKnews. Steven Anderson, head of trade and investment section at the UK embassy in Amman, pointed out that representatives of 15 companies […]
Loans up to $83,000 for Kurdistan's Farmers
The KRG's Ministry of Agriculture has said that any farmer can get an agricultural loan of up to 100 million Iraqi dinars [$83,000] from the Government. The agriculture minister said that the Kurdistan Regional Government has allocated 100 billion Iraqi dinars from the budget for the current year, in order to enable farmers to borrow […]
Iraq Lags on Oil Metering
An audit of Iraq's oil revenue management and accounting system found the plan to fully install and calibrate a full crude oil and products metering system by 2012 is only 39% complete, according to a report from Platts. US auditing firm PricewaterhouseCoopers, the UN mandated International Advisory and Monitoring Board, and Iraq's Committee of Financial […]
Shares in Petrel Jump on Iraq Update
Shares in Petrel Resources (AIM:PET) jumped 11% this morning following the company's update on its operations in Iraq. The board announced that Petrel has received the final US$2.5m payment due in relation to the Engineering, Procurement and Supervision of Services (EPC) contract on the Subba and Luhais oil field development. The company retains a 10% […]
Iraq to Head OPEC?
If Iranian President Mahmoud Ahmadinejad doesn't choose a minister for the ministry to replace the Iranian Ministries of Oil and Energy, then Iraq will chair the 159th meeting of the Organization of Petroleum Exporting Countries (OPEC) in the Austrian capital Vienna next June, an oil expert has said. Jawad Barjani, speaking to Iranian news agency, […]
Massive Oil Sector Losses Due to 'Bad Administration'
Iraq has lost a total of about US$493 billions in the period from 2003 and 2011, due to the hampering or postponement of projects, bad administration and planning, according to a report from Aswat al-Iraq. Expert Nizar Haider of the Research Section in the US DTI Company for Energy Affairs said in a report that, […]
BPA Confirms First Iraq Exhibition Audit
BPA Worldwide has been contracted to complete the event audit of the 2nd Basra International Oil & Gas Conference and Exhibition to be held in Basra, Iraq. The event, which is supported by the Ministry of Oil and Ministry of Trade State Company For Iraqi Fairs, will be held at the Basra International Fair Ground, […]