Iranian Company to Build Oil Refinery in Babil
The deputy director of the Babel Investment Commission said that an Iranian company has been granted an investment licence to build an oil refinery in the province. Abbas al-Tai told AKnews that the Iranian company, IR Haval, will set up the refinery for filtering diesel oil, which is produced in abundance by the Iraqi refineries. […]
France to Sign 8 New Contracts with Iraq
An adviser in the outgoing Iraqi government said on Thursday that Iraq will sign eight important economic contracts with France during November. The adviser of the Minister for Foreign Affairs, Ahmad al-Shehani, told AKnews that "the Iraqi government will sign eight economic contracts next month to expand the economic transactions between the two countries". The […]
Extremes of Risk and Reward in Iraq
The extremes of risk and reward in Iraq were very much in evidence over the past week. On the negative side: Ayad Allawi, in his attempts to bolster his bid for the top job, has reportedly reneged on his commitment to honour oil and gas contracts signed by they current administration; The government has admitted […]
New Tenders for Mall Developments in Iraq
The National Investment Commission (NIC) has just announced a string of new tenders to build "central malls, warehouses and free markets in addition to constructing residential buildings" throughout Iraq. Click here to see the full table of projects. Please submit application forms to either the National Investment Commission directly or by e-mail to [email protected] before […]
125 Companies Bidding to Build 1 Million Houses in Iraq
The Chairman of the National Investment Commission, Dr. Sami Al- Araji, announced that 125 companies of various nationalities have submitted offers to implement the 'One Million Housing Units' project [National Housing Project] throughout Iraq, and says that 35 companies from that list will be chosen. Dr. Araji explained that the project will be built on […]
Iraq Banks Told to Raise $7 Billion
The Central Bank of Iraq has instructed private banks to raise at least $7 billion in fresh capital over the next three years to be able to handle an expected oil-fueled construction boom, according to the Wall Street Journal. Ahmed Ibraihi, Vice Governor of the Central Bank of Iraq, told the newspaper on Wednesday that […]
Iraq to Secure Japan's Energy Needs
Iraq is aiming to become a major oil and gas supplier to Japan, Baghdad's oil minister, Hussein al-Shahristani, said on Wednesday after a meeting with Japanese officials. The Minister also said that Japan offered economic aid in the form of loans and investments to help build Iraq's infrastructure. The statement was released following a meeting […]
Karbala Council Rejects New Electricity Tariffs
Karbala Council has issued an appeal to its citizens not to pay the new domestic electricity tariffs introduced by the Ministry of Electricity this month, according to AKnews. The head of Karbala’s energy and fuel commission, Zuhair Samil al-Da’mi, told the agency that the ministry’s ten-fold increase was “completely unfair” in the light of the […]
Taylor-DeJongh and Phoenix Capital Launch New Iraqi Financial Services Firm
Taylor-DeJongh, a leading energy and infrastructure investment banking firm, and Phoenix Capital LLC, a Baghdad-based investment bank, announced on Wednesday that they have entered into a strategic partnership to create the first Washington-Baghdad financial services firm. The partnership will provide specialist industry knowledge and financial expertise to both international and Iraqi public and private sector […]
Weekly Security Update for 27th Oct 2010
National Overview The national total number of officially reported hostile incidents increased slightly from 116 to 119. Although the Baghdad region accounted for most of hostile incidents it was for a smaller number than the three previous weeks. The modus operandi of assassinations utilising under vehicle improvised explosive devices and small arms fire continued unabated. […]
Kurds Want To Manage Oil Independently
Kurdistan's Prime Minister, Barham Salih, asserted that Kurdistan has had a successful oil policy and that any prospective government must allow the region to manage its own oil autonomously, according to a report from Rudaw. Due to the policy under which the Kurdistan Regional Government (KRG) has signed dozens of contracts with foreign companies independently […]
Iraq Likely to Sign Shell Gas Deal by End of 2010
Iraq is meeting with Royal Shell Dutch to finalise a draft of a $12 billion deal to develop a gas-structure project in southern Iraq, and may sign a deal by the end of this year, a senior Iraqi oil official told Dow Jones Newswires on Tuesday. "There is a meeting being held in Basra to […]