UN Moves Towards Ending Iraq's Chapter VII
Expected Council Action The US (Council president in December) has scheduled a high profile meeting of the Council on Iraq on 15 December. US Vice President Joseph Biden is expected to chair the meeting. It was unclear at time of writing at what level other Council members would participate. It seems that the rationale for […]
New Iraq Oil Prices for Europe
Iraq’s State Oil Marketing Organisation (SOMO) has adjusted its official selling prices for its Basra Light and Kirkuk crude grades for January. In common with some other countries, Iraq’s oil is priced relative to regional benchmark prices: For shipments to US, contracts are priced are relative to the Argus Sour Crude Index (ASCI); Shipments to […]
Turkey and Iran Battle for Influence in Iraq
According to a report from Reuters, Turkish clothing and beer are hot sellers in the streets of Erbil, the capital of Iraq's Kurdish north, while in the South, Iranian cars roam the streets of Basra and Iranian pilgrims flock to Iraq's holy sites. Sunni Ankara and Shi'ite Tehran, old rivals turned friends, are vying for […]
US Success at De-Mining in Iraq
U.S.-led efforts in Iraq have cleared more than 190 million square feet of land from unexploded ordnance, the U.S. State Department said. The State Department said Iraq is near the top when it comes to nations plagued with land mines and unexploded ordnance. Most of those, the department said, are the consequence of more than […]
Agility Would Welcome Offer for Korek Stake
Kuwaiti Logistics firm Agility has not received an official offer from France Telecom for its stake in Iraq's Korek Telecom, but welcomes any, its chairman said in published remarks on Thursday, according to Reuters. "Exiting is possible if the company receives a suitable price level that results in good revenue," Tarek Sultan told Kuwaiti daily […]
Iraqi Cabinet to Review Shell Gas Deal
A multi-billion-dollar gas deal between Iraq and Royal Dutch Shell will be presented for ratification to the new cabinet once it has been formed, Iraq's Oil Minister said. "We are still negotiating the contract," Hussain Al Shahristani said after a graduation ceremony for the oil police, according to a report from Trade Arabia. The $12 […]
Ministry of Electricity Tenders for Oil
Iraq's State Oil Marketing Company (SOMO) has issued a tender for 2,600 tonnes of gas-oil for the Ministry of Electricity. Bids will be accepted until 12:00 on 20 December, 2010, Baghdad time. Please click here to download the English tender document ... ... and here to download the document in Arabic.
Swedish Govt Sees Opportunities in Basra
The Swedish ambassador in Iraq visited Basra on Thursday to discuss cooperation in business and investment. Basra's governor, Sheltag Abboud Mayah, told AKnews, that the Swedish delegation to Basra came after his visit to the Swedish government to promote cooperation between the two countries. “Opening the Swedish consulate in Basra ... means opening investment opportunities” […]
Violence Expected Ahead of al-‘Ashura
Over the coming week terrorists are likely to attack Shi’ah worshippers marking the religious period of al-‘Ashura. Many pilgrims will travel to the holy city of Karbala for the event, which culminates on 17 December and has seen numerous bouts of violence in recent years. Security will be tighter than normal, but roadside attacks against […]
The French Connections
While Turkey is undoubtedly the country with the most companies operating in Iraq -- 270 of them, according to this recent report -- it is France that clearly takes the prize for the most active of Iraq's non-bordering countries. Iraq's National Investment Commission (NIC) says there are 123 French companies with operations in the country, […]
$10 Billion Sadr City Re-Development
Azzaman reports that the Iraqi government has earmarked $10 billion for the redevelopment of the low-income township, Sadr City, in Baghdad. The project, which will take 10 years to be completed is one of the largest housing schemes in the Middle East, according to Baghdad Mayor Saber al-Aysawi. Aysawi said the huge project will solve […]
Iraq Expects 10% Growth Next Year
An adviser to the Iraqi Central Bank said on Wednesday that the 2011 budget will result in economic growth of 10%. Muzher Mohammed told AKnews that the 2011 budget in its present state is one of the best Iraqi budgets since 2003 as it will increase the country's economic output by 10%, and it will […]