New Auction for Three Gas Fields
Iraq's Ministry of Oil will auction off more gas fields on the 20th October 2010. Xinhua was told by an official: "The bidding for the gas fields of Akkas in Iraq's western province of Anbar, Mansuriyah in eastern Diyala province and Siba in the southern province of Basra, will be held on October 20th." Ministry of […]
Will the ISX join the emerging markets breakout?
This hasn’t been a great year for Iraqi stocks by any stretch of the imagination. As measured by Rabee Securities’ dollar-based index, as of October 7 the market is down 10% year-to-date. And with index constituent stocks with a total weighting of something like 40% currently suspended from trading and Warka Bank (BWAI) no longer […]
Invest in Iraq Now or Miss Out, Says U.S. Envoy
American companies should invest in Iraq now to avoid losing out on opportunities to other international firms, Under Secretary of Commerce Francisco Sanchez said during a trade mission to Iraq. According to the report in Reuters, he urged corporate leaders to hurry while acknowledging that security concerns remained high. "The time is now. I think […]
Iraq Needs 4,400 Miles of New Pipelines
An estimated 7,000 km (4,400 miles) of new pipeline will need to be built in Iraq if the country is to meet its oil export targets, according to Penspen Group Chief Executive David Stanley. According to a report from Pipelines International, Mr Stanley underlined the need to repair and reinforce Iraq’s two existing major export […]
Nabucco Investment Decision Delayed to 2011
A final investment decision on investment for the Nabucco pipeline will definitely not happen this year, and will be delayed until 2011 because gas supply talks with Azerbaijan are dragging on, an Austrian newspaper reported on Friday. The 7.9 billion euro ($11 billion) Nabucco pipeline is part of the EU's effort to diversify its natural […]
Soldier Jailed - 'Smuggled' Iraqi Dinars
A U.S. Army officer who approved supplies contracts in Iraq was sentenced Friday to 21 months in prison for lying about contents of a package he sent to the United States containing more than $100,000, according to a report from Associated Press. Maj. Charles E. Sublett pleaded guilty in July to sending almost $108,000 in […]
France Opens New Consulate in Southern Iraq
The French Ambassador in Iraq, Boris Bouillon, announced the opening of a new consulate in the southern city of Nassiriya which is hoped to encourage French investment in Iraq. France has appointed Adel el-Kenzawy, a businessman of French-Iraqi nationality, as its consul in al-Naseriyah, Boillon told the German Press Agency. The new consulate is a […]
Govt Reaffirms Commitment to Housing in Iraq
The Ministry of Construction and Housing (MoCH) in Iraq marked World Habitat Day by launching the Iraq National Housing Policy in a ceremony held in Baghdad. The policy will respond to housing needs in Iraq and ensure the right of housing and adequate shelter is granted to all people in Iraq. Iraq’s housing shortages stand […]
Lebanese Firm to Supervise Work at Baghdad Power Station
The Iraqi Industry Ministry signed a contract with a Lebanese firm to supervise the start-up of a gas-fueled power station in the al-Hurriya city, northern Baghdad. “The station’s start-up work will take three months,” the ministry said in a statement on Thursday as received by the Aswat al-Iraq news agency. It noted that the firm […]
Chess or Dominos? The Next Moves in Iraq’s Political Game
By Dr Michael Knights, Vice President and lead Iraq analyst at Olive Group. On 1 October, Prime Minister Nouri al-Maliki received the endorsement of just over 140 parliamentarians, drawing close to the 163 votes needed to be re-appointed. I’m on record as predicting that this step will most likely bring about a new Maliki-led government, […]
BREAKING NEWS – New Opportunities at Giant Rumaila Oilfield
As our weekly newsletter goes to press, BP has just announced a major new event for contractors interested in its giant Rumaila oilfield. There will be opportunities in the areas of: Engineering and Project Management Services (EPMS); Engineering, Procurement and Construction (EPC); and Construction. This is hugely significant to the development of Iraq's economy, as […]
Weekly Security Update For 7th October 2010
National Overview The total number of officially reported hostile incidents nationally increased very slightly from 112 to 115. Once again hostile activity in Baghdad accounted for approximately half of all incidents, making Baghdad by far the most dangerous part of the country for five weeks running. Assassination attacks against Iraqi Security Forces and Government of […]