Three New Equity Funds in One Month
Project management specialists Parsons Brinckerhoff stated the obvious this week by saying Iraq is “risky, but full of opportunity”. After the war, the security and energy sectors were the most obvious risky opportunities. Re-building Iraq's decaying and war-torn infrastructure has come a close second. Since then, however, opportunities have snowballed into retail and agriculture, and […]
US Authorities Advised Marathon Oil Against KRG Deal
According to Iraq Oil Report, the US authorities advised Marathon Oil against entering into their recent contract with the Kurdistan Regional Government in the absence of agreement with Baghdad. "The United States’ position remains that it is in the interest of all Iraqi parties to enact a set of national laws to govern the development, […]
Iraq Mega Projects - Inspiring Business in Iraq
By Leanne Case, reporting from Istanbul. I’ve written a fair number of articles extolling the potential of Iraq to British business, I make no apologies for this and believe strongly in the future of Iraq. So do hundreds of international companies! A significant number of who attend the now numerous conferences and events aimed at […]
Iran and Iraq to Sign Contract on Shared Fields
The managing director of the Iranian Central Oil Fields Company (ICOFC), Mehdi Fakour, reported of a new round of negotiations with Iraqi oil officials to achieve a ‘common language’ to expand cooperation on the development of shared fields, based on national interests of the two countries. In an interview with the Iranian news agency Shana, […]
Quality Investment Group Launches Qualtra in Iraq
QIG (Quality Investment group) Holding, the main shareholder of Qualco which is one of the fastest growing construction companies in Lebanon, has announced the establishment of Qualtra in Iraq, a new company based in Baghdad and specialising in construction materials. The launch is part of the group's expansion strategy in the Middle East and its […]
France Opens 'Agriculture and Environment House' in Erbil
France is expected to help Iraq and the Kurdistan Region to develop the agriculture sector, according to the French Minister of Foreign Trade who opened a French agriculture house in Erbil on Monday. Anne-Marie Idrac arrived in Erbil, the capital of Iraqi Kurdistan, after landing in Baghdad the day before in what became the first […]
Tenders for Rigs at Halfaya Oilfield
Bids are invited from oil service companies to supply two workover rigs for the 4.1 billion barrel Halfaya oilfield. The tender from state-run Maysan Oil Company, along with the China National Petroleum Company (CNPC), French oil major Total, and Malaysian state firm Petronas, closes on Nov. 28, and the offer must remain valid for 90 […]
Sweden's Scania Accused of Corruption in Iraq
Swedish truck maker Scania paid $5 million in kickbacks through the U.N.'s oil-for-food program in Iraq, possibly violating both U.S. and Swedish laws, an anti-corruption investigator said on Friday, according to a report from Associated Press. Swedish prosecutor Nils-Eric Schultz told the agency he is preparing to file charges in Sweden against several company officials […]
Saddam Hussein's Yacht Back in Iraq, For Sale
Iraq's ministry of transportation has announced that the luxury yacht Ocean Breeze, also known as the Basrah Breeze, once owned by former Iraqi president Saddam Hussein, is back in Iraqi waters, according to a report from ITN. The boat, which has been the subject of legal wrangling between Iraq and Jordan, which claimed ownership of […]
New Iraq-Focused Equity Fund
Global Capital Investments, of Illinois, has created a private investment fund for sophisticated investors who wish to invest in the long-term growth potential of the emerging Iraqi economy. The objective of the fund is to seek long-term capital appreciation over a broad range of Iraqi listed securities, a small number of private investments and Iraqi […]
Batna Oil Field Resumes Production After 20-Yr Stoppage
Northern Iraq’s Batna Oil Field in Nineveh Province has resumed production after 20 year stoppage, an official at Nineveh Oil Comission said on Tuesday, The official expressed the hope that production would exceed 2,000 barrels per day (bpd). “The comissioning of Batna Field, one of the oil fields in northwest Mosul’s Zummar town, stopped more […]
Iraq’s Oil Exports Decline in October
Iraq’s oil exports slipped in October to 1.9 million barrels per day from 2.021 million bpd in September, the head of the State Oil Marketing Organisation (SOMO) said on Monday. Reuters reports that Iraq exported an average of 1.492 million bpd from the southern oil hub of Basra and 408,000 bpd from the northern oilfields […]