Iran to Pipe Gas Through Iraq and Syria
The energy ministers of Iraq, Iran and Syria will sign a contract for transporting Iranian gas to the Middle East and Europe, an Iranian official said on Tuesday. Javad Oji, Iran's deputy oil minister, told the Iranian news agency Mehr that senior officials from the three countries met in Baghdad last week to discuss the […]
Trade Bank of Iraq Profits Up 18%
The state-owned Trade Bank of Iraq, established in 2003 to finance trade and help in the reconstruction of the country, said profit rose 18 percent last year, according to a report from Bloomberg. Net income climbed to $361 million, Hussein al-Urzi, president and chairman said on Wednesday. Operating income gained 18 percent to $400 million […]
KazMunaiGas Drops Out of Akkas Gas Deal
KazMunaiGas has informed Iraq's Ministry of Oil that is is withdrawing from negotiations on the Akkas gas field in Anbar province. "Unfortunately, the talks have failed to resolve all issues which emerged at a late stage", the company said in a statement, "and it has not been possible to develop a consensus document that would […]
Schlumberger Secures West Qurna Drilling Contract
International oil services firm Schlumberger has won a contract from a consortium led by US oil major ExxonMobil to drill 15 new wells in Iraq's West Qurna Phase One oilfield, Reuters has reported, citing an industry source familiar with the matter. Ame Info reports that the new wells are part of the consortium's plan to […]
Iraqi Central Bank Allows Cash Transfers up to $50,000
Iraqis are now officially allowed to transfer up to $50,000 [60 million Iraq dinars] per transaction in hard cash across the world, the Central Bank says. According to a report from Azzaman, the decision follows restrictions on hard cash transfers under which Iraqi banks and exchange offices were obliged to declare to the tax authorities […]
South Oil Company Employees Strike
Hundreds of employees of Iraq’s state-owned South Oil Company have gone on strike in Basra city on Monday, demanding improvement of their living standards and salaries, and the formation of integrity committees to uncover the financial and administrative corruption in the Company. A trade union activist told Aswat al-Iraq news agency that the demonstrators have […]
Weekly Security Update for 11th May 2011
Overview Levels of violence rose in Iraq over the past week, mainly in the centre of the country, throughout the capital, in the east of Anbar province and the west of Diyala province. Other hotspots included Mosul, Kirkuk, Diwaniyah, Hillah and even Karbala and Basrah. Kurdistan remained largely quiet, although the risk of unexploded ordnance […]
SCOP: Supply of Four Horizontal Boring Machine
The oil Projects Company (SCOP) announces supply of four horizontal boring machine with Spare Parts. The tender documents may be collected (by an authorized representative of the tenderer) at SCOP's headquarter in Baghdad against the cash payment , non-refundable, of ID 750.000 Please note that the materials should be Americans. Please click on this link for […]
Indian Company to Build Power Station in Wassit
Wassit local government has signed a memorandum of understanding with the Indian company BHEL (Bharat Heavy Electricals Limited) to build a 500 MW power station, according to a report from Aswat al-Iraq. Taha Rudaini, a member of the local government's Media Committee, told the news agency that the station will be powered by diesel (black […]
Nineveh Tops 2010 Reconstruction Contract Ratings
Nineveh signed more reconstruction project contracts with international firms in the past financial year than any other Iraqi province, said the provincial governor on Sunday. Athiel al-Nujaifi told AKnews that a total of 44 companies from around the have undertaken major reconstruction projects in the province in the fields of tourism, industry, public services and […]
Basra Backs UAE Refinery Bid
A bid from an Emirati company to invest in one of Basra’s oil refineries to boost domestic production has won the support of the Basra Investment Commission. Haider Ali Fadel, chairman of the Commission, told AKnews on Monday that the Bin Khalid Group’s bid to increase the refinery’s production capacity to around 300,000 barrels per […]
$10m Mall Project Starts in Erbil
The foundation stone was laid for a new $10m [12 billion Iraqi dinar] commercial complex and shopping centre in Erbil on Sunday. Samir Abdullah, Minister of Municipalities and Tourism of the Government of the Kurdistan Region, emphasised the importance of Kuwaiti investments in the region. Nasser Al Sayer, Chairman of the Kuwait Al-Sayer Group of […]