Sadr City Reconstruction to Employ 100,000
A major project for the reconstruction and rehabilitation of west Baghdad’s al-Sadr City will employ between 75,000 and 100,000 people during its implementation period, and another 50,000, Baghdad’s Mayor, Sabir al-Issawi said on Wednesday. According to the report from Aswat al-Iraq news agency, Issawi stressed that the project would comprise the construction of several multi-storey […]
Dohuk Residents Compensated for Airport
The media and relation officer for Dohuk Municipality said 771 families in the province will be paid for giving up their lands for Dohuk International Airport. Ismael Mustafa told AKnews the families in Semele district, who have been living in the area for the past 15 years, each will be paid 22 million Iraqi Dinars […]
Largest Rubbish Processing Plant in Middle-East Opened in Baghdad
The biggest rubbish processing plant in the Middle East was opened on Wednesday in Baghdad by a Turkish company, according to the Municipality of Baghdad. Deputy Baghdad Mayor Naeem al-Kaabi on Wednesday opened the al-Sadr waste processing plant in al-Habibiya region, making it the largest in the Middle East. It was designed by a Turkish […]
ShaMaran Petroleum Final Results
Shares in ShaMaran Petroleum rose slightly on Friday following the release of the company's final resutls for the year ended December 31st, 2010. The Company reported a net loss of $1.0 million (2009: net income of $2.9 million). Cash balance was $58.7 million as at December 31, 2010 (2009: $63.6 million). Please click here to […]
Groundstar Resources Drilling Update on Qara Dagh
Groundstar Resources has announced the following update on the drilling progress of the Qara Dagh - 1 exploration well in Kurdistan, Iraq. Since the last update on January 14, 2011, the well has drilled to 3,558 meters measured depth ("MD"). Over the past several days, a 7 inch liner has been set and cemented at […]
Iraq's Oil Reserves Even Higher?
Iraq's proven oil reserves total around 173 billion barrels, Deputy Prime Minister Hussain al-Shahristani (pictured) said on Wednesday, according to a report from Dow Jones Newswires. Only 143 billion barrels of these reserves have been fully audited, he said. Another 30 billion barrels located in the Kurdish region of Iraq are considered proven but haven't […]
Iraq Shortlists 2 Firms for $1bn Power Plant
Iraq's Electricity Ministry said on Wednesday it had shortlisted two private Kurdish-owned companies to build and operate a power plant costing up to $1 billion in Iraq's southern Basra province, Reuters reports. The companies concerned are the Jordan-based Mass Global Investment Co and Arbil-based Kar Group. A winner will be selected at the end of […]
Iraq, Kurdistan to Agree Oil Revenue Deal by End 2011
Adnan Al Janabi, the chairman of Iraq's Oil and Energy Committee has said an agreement is likely to be reached in the second half of 2011with Kurdistan on revenues from crude oil exports, Reuters has reported. "The Kurdish authorities requested it for June or July but I think we will miss it. I expect it […]
Kuwait Airways to Pursue Iraqi Assets
According to a report from The National, lawyers for Kuwait Airways have vowed to seize international assets owned by the Iraqi government following a recent court ruling in its long-running dispute with Iraqi Airways. A UK court ruling has granted Kuwait Airways the right to file proceedings against the Iraqi government and ministries of transport […]
Swiss Belhotel International Soon in Iraq
Swiss-Belhotel International is pleased to announce the signing of a management agreement with Sardar Investments Pty. Ltd, a part of Sardar Group, for the management of a 4 star international hotel in Erbil. Erbil, a historical city (6000 BC) and the capital of Iraqi Kurdistan, is home to a large number of international companies, government […]
Trust Petro Serve: contact error
An advertisement for Trust Petro Serve in this week’s IBN Newsletter, sent out this morning, was linked to the wrong web site in error. Anyone wishing to contact Trust Petro Serve may reach them at: www.trustpetroserve.com, or email Mark O’Hanlon at [email protected], telephone number: +44 1892 704 165 We apologise for any confusion.
When Will Iraqi Govt be Completed?
As we go to press, and after many rumours and false reports, Iraq's parliament has still not agreed on the key ministries of defense, interior and national security, more than three months after the creation of Nouri al-Maliki's government. Our expert blogger John Drake reports that the number of attacks in Iraq has been rising […]