Iraq Applies to Join ECO
Iraq has applied to join the Economic Cooperation Organization, or ECO, Turkey's President Abdullah Gul has reported, according to an article at the weekend from World Bulletin. Leaders of ECO-member countries gathered in Istanbul for a one-day summit meeting during which Turkey assumed the rotating term presidency from Iran. Iraq, as well as Qatar and […]
Addax Petroleum Increases Output
Addax Petroleum Corp.’s crude output has risen 14 percent since the Geneva-based company was acquired by China Petrochemical Corp. in August last year, according to Bloomberg. Crude production at Addax has grown to 155,000 barrels a day from 136,000 barrels a day, China Petrochemical, also known as Sinopec Group, said in a statement on its […]
Call to Reschedule Iraq's Debt
Following Iraq's exit last week from the UN's Chapter VII restrictions, an Iraqi economist has called for a rescheduling of the country's debt repayments. “Iraq’s financial funds are under UN trusteeship, according to UN’s Article 7,” Dr. Nabil Jaafar of Basra Univesity told Aswat al-Iraq news agency, pointing out that “the official and private debtors […]
PetroChina Invites 7 Contractors to Bid for Halfaya
PetroChina has invited seven contractors to submit the bidding documents for engineering, procurement and construction work on the first phase of development at the Halfaya oilfield in Iraq in the first week of 2011, the Norway-based energy newspaper Upstream has reported. The report said the companies invited to participate in the tender include the UK-listed […]
Mass Global Wins Kurdistan Smelter Contract
The Kurdistan Regional Government has licensed a firm to build a $1.1 billion smelter and steel plant, according to Trade Arabia. Mass Global was granted the to build the project in the Chamchamal area between Kirkuk and Sulaimaniya, said Haidar Mustafa, head of the industrial projects department of KRG's investment commission. "The total amount of […]
Halliburton Complained of Iraq Security 'Mafia'
Oil companies working in Iraq complained of a "mafia" type atmosphere that drove the price of security up considerably, according to leaked U.S. diplomatic cables revealed by Wikileaks. London's Guardian newspaper reports that official at oil services company Halliburton complained the price of security in Iraq was "unwarranted" during a modestly secure environment in 2008. […]
Iraqi Govt Patchwork Alliance May Struggle to Survive
By Ranj Alaaldin, a Middle East political and security risk analyst based at the London School of Economics and Political Science. He visits the Middle East regularly and as part of his recent work on Iraq has visited the country on a number of fact-finding missions. Foreign Policy magazine recently listed him among its 100 […]
Special Parliament Session Demanded to Discuss Electricity Problem
Members of Parliament from Iraq’s al-Ahrar (Liberals) Bloc has demanded that the Parliament holds a special session to discuss the problem of electrical power, according to a statement carried by Aswat al-Iraq. “We demand the Parliament’s chairmanship to add the issue of the electric power on the schedule of the Parliament for next session, in […]
UAE Ambassador Reviews Investment Opportunities in Anbar
The United Arab Emirates (UAE) ambassador to Iraq Abdullah Ibrahim reviewed with local officials in Anbar on Thursday economic conditions and investment and trade opportunities in the province, a local council source told Aswat al-Iraq news agency. “Ambassador Ibrahim met with Anbar Provincial Council Chairman Jassem Mohammed Hamad and other members and exchanged views on […]
Egypt Contributes to Housing Projects in Iraq
AKnews reports that the Egyptian Housing Ministry is to contribute to the Iraqi government's plan to build a million housing units in Iraq. The General Director of the Technical Department of the Iraqi Housing and Construction Ministry, Hussein Majid Hussein, said on Thursday that the Iraqi Ministry signed a contract with the Egyptian Housing Ministry […]
Weekly Security Update for 23rd December 2010
Overview Levels of violence rose last week in Iraq as Shi'ahs marked al-'Ashura. Pilgrims travelling to the holy city of Karbala were attacked on several occasions, in Baghdad and the central provinces, although Karbala itself saw little in the way of violence. The police arrested numerous suspected militants ahead of the event and many potentially […]
Iraq's New Future of Opportunity
The big news this week in Iraq was the announcement of Nouri al-Maliki's new cabinet, and, unusually for such a decision, the fact that it was made several days ahead of the legal deadline. Nevertheless, BBC reports that Iraq now has the dubious honour of holding the world record for the longest period between an […]