New Consortium for Iraq's Transport Sector
Arabian Reach, the UAE-based company specialising in exhibitions and events management across the region, has announced the launch of the Iraq Airports, Aviation and Logistics Consortium (IAALC) to further boost Iraq's growing logistics, freight and transportation sectors, which is seeing infrastructure investments to the tune of $50bn. As part of its operations, IAALC will be […]
Shahristani Denies Rumours of Reduced Oil Target
Iraq's Deputy Prime Minister for energy, Hussain al-Shahristani (pictured), said on Sunday that Iraq does not plan to lower its target for oil production of 12 million barrels per day or to re-negotiate contracts with oil firms over their plateau targets. "Absolutely not. There is no intention at all to renegotiate the contracts," Shahristani told […]
Work Starts at $450m Karbala Power Station
Iraq's Deputy Premier for Energy, Hussein al-Shahrestani, laid the foundation stone for the new 1250 megawatt al-Khairat power station in Karbala, which will add about 20% to power production in Iraq if completed as scheduled in April 2013. Iraqi energy officials on Sunday marked the start of work on a 1,250 megawatt power plant with […]
CNPC Tenders for Drilling and Survey at Halfaya
China National Petroleum Company (CNPC) and its partners Total of France and Petronas of Malaysia, have issued a tender for work in Iraq's 4.1-billion-barrel Halfaya oilfield. Reuters reports that the consortium has advertised on Monday looking for bids from companies to supply a drilling pad and to survey existing wells. The tender closes on June […]
BurgerFuel Enters Iraq
BurgerFuel Worldwide, the New Zealand-based fast food company, has sold the Master License agreement for the rights to BurgerFuel Iraq. BurgerFuel chief executive for international markets, Chris Mason, who is based in Dubai, said: “We’re moving forward in our plans to establish BurgerFuel in the Middle East by adding Iraq to our other territories in […]
Another Batch of Security Ministry Nominees
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. […]
Iraq Mega Projects 2011 Conference Dates Announced
Following the success of the first Iraq Mega Projects conference last year, which offered access to high level decision-makers of Iraq's Mega Projects, CWC today announced dates for the second conference which takes place in Istanbul, Turkey on 18-20 October 2011. Major changes happened in 2010 with hundreds of contracts signed allowing work to begin […]
Two Security Firms Win Big Iraq Contracts
Two more security firms have won contracts worth hundreds of millions of dollars to build the State Department a private army in Iraq, according to a report from Wired's 'Danger Room'. Contractors Triple Canopy and newcomer Global Strategies Group will contribute to the State Department’s planned protection force of 5,500 contractors. In September, the State […]
Iraq Spent $450m on Postponed Summit
Iraq spent $450 million [540 billion Iraqi dinars] in preparation for the Arab League Summit, which has now been postponed for a year. The money was spent planting palm trees along highways, re-paving roads and restoring a palace of former dictator Saddam Hussein, according to a report from Reuters. Arab League Secretary-General Amr Moussa said […]
German Trade With Iraq Reaches New Highs
Business between Iraq and Germany has picked up dramatically and trade has reached levels not seen since the 2003 U.S.-led invasion, Germany's Economy Ministry said on Thursday, according to a report from Reuters. Trade volumes between the two countries grew by an annual 63 percent last year, surpassing 1 billion euro ($1.5 billion) for the […]
Karbala Traders Urge Britain to Facilitate Visas
Karbala Chamber of Commerce called on the British embassy to facilitate Iraqi merchants in getting visas to visit the UK, to increase trade between the two countries. Chairman of the Chamber, Nabeel Al-Anbary, told Aswat al-Iraq news agency that he had talks with the British ambassador and a number of international companies in Baghdad. "During […]
Iraq Probes Corruption in Military Deal
A member of Iraq's Integrity Committee, Aliya Nassif confirmed on Wednesday that the committee is investigating possible financial corruption in a deal by the previous government's Defense Ministry to buy military equipment from Serbia. Nassif told AKnews that the Ministry of Defense in the former government had contracted with Serbia to buy arms for the […]