Kurdistan Signs MoU with Sweden
The Kurdistan Region of Iraq signed two memorandums of understanding with two Swedish counties on Tuesday: Örebro (pictured) and Jönköping. The move aims help Swedish companies to invest in Kurdistan. Both memorandums were signed in a meeting between Erbil's governor, Nawzad Hadi, the mayor of Örebro, a representative of Jönköping, and the Swedish consul in […]
Kirkuk Cuts Off Electricity to Baghdad
According to a report from AFP, Iraq's northern Kirkuk province said it had stopped supplying electricity to the national grid on Tuesday, in a bold move to force the central government's hand in a dispute over power rationing. "Kirkuk province has decided to cut the power going out from its electricity stations to other provinces […]
WesternZagros to Target Over 1 Billion BOEs during 2011/2012 Exploration Program
WesternZagros Resources has announced that Sproule International has completed an independent audit of the Company's resource assessment of: the Tertiary Eocene and Cretaceous reservoir intervals of Kurdamir-1; the Jeribe reservoir at Sarqala-1; and the Upper Fars reservoir at Mil Qasim in the Kalar-Bawanoor Block ("Block K44"). This audit, together with the previous audit results of […]
Rail Project to Ease Baghdad Traffic
[Please click here for update] The Iraqi National Rail Company announced on Sunday that under its supervision the urban rail project in the Iraqi capital will be completed in 2013.. According to AKnews, the company’s press secretary, Jawad Kharsani, said the project will be carried out in conjunction with the French company Tharyom (sic) [Iraq […]
Stan Harbison on Iraq's Increased Oil Output
By Stan Harbison, Vice President of Research and Analysis at energy consultants EPRINC. In the past week, the ministry announced that two fields won at Iraq’s 2009 oil auctions had achieved their first significant benchmark. Production at Rumaila and Zubair each met the 10% production increase which allows them to begin to earn their per […]
Turkey Wants Regional Free-Trade Zone to Include Iraq
The Turkish Foreign Minister, Ahmet Davutoglu, met the Iraqi Parliament Speaker, Osama al-Nujaifi, in Baghdad on Sunday and congratulated him on his election as the Parliament Speaker. Davutoglu said he was pleased over the developments in Iraq and underlined that, "we will be pleased to see inclusion of Iraq to a free trade zone among […]
Japan Insures Mitsubishi's Iraqi Gas Project
Bloomberg, quoting the Nikkei newspaper, says Mitsubishi's gas project in Iraq will receive long-term trade credit insurance from Japan's state-backed Nippon Export and Investment Insurance. According to the report, this is the first time in 21 years that Japan has provided this facility for a venture in the Middle East. The company will insure Mitsubishi’s […]
New Al-Faw Port to Cut Shipping Costs to Europe
According to a report from Iraq's National Media Centre, the new port at Faw [Fao], when completed, will reduce transport costs between Europe and Asia. Salah al-Khadir said the project will shorten the distance between Iraq and the other countries of the world, and especially the vessels coming from Asia to Eastern Europe, indicating that […]
Former Austrian Chancellor: EU Should Source Energy in Kurdistan
In a recent interview on EU's energy security with World Security Network Foundation (WSN), former Austrian Chancellor Dr. Wolfgang Schüssel (pictured) said that Europe should also diversify sources of energy supply by looking, for instance, to the Kurdish Region of Iraq. Europe is heavily dependent on Russia for its energy supply, especially natural gas, which […]
Iraq Cuts Crude Prices for February Delivery
Iraq, the third-largest producer in OPEC, cut the official price formulas for all its crude grades and destinations for February, according to price lists published by the State Oil Marketing Organisation (SOMO). Basrah Light and Kirkuk, the two grades sold by the Middle Eastern state, will sell for 20 cents a barrel less in February […]
Iraq Buys 120,000 tons Rice and Grain
Iraq has bought 120,000 tonnes of rice from abroad, Muthanna Jabbar, director general of Iraq's grains trading board, told Reuters on Sunday. He said Iraq bought 90,000 tonnes from the United States, and the remaining 30,000 tonnes from Argentina and Uruguay. Iraq, one of the world's biggest importers of rice and wheat, issued a tender […]
Canadian Court Rules Against Iraq in Aircraft Dispute
An appeal by the Iraqi government against Kuwait Airways' (KAC) claim over the theft of its aircraft during the Iraqi invasion of Kuwait has been summarily dismissed by a Canadian court of appeal, Arabian Aerospace has reported. Last year, KAC seized Iraqi Airways and the State of Iraq interests in an order of new aircraft […]