GE Fuel Oil Treatment Selected for Iraqi Power Plant
GE (NYSE: GE) has signed a contract with Iraq’s Ministry of Electricity to supply an advanced fuel oil treatment technology, FuelSolv, to help enhance the reliability and productivity of the Al-Quds power plant on the outskirts of Baghdad. “The Al-Quds power station provides much-needed electricity for Iraq and GE’s innovative gas turbine technology and fuel […]
Ministry for Planning Blames Subcontractors for Delays
The Iraqi Minister of Planning and cooperative Development said on Sunday that delays in reconstruction projects in the country are due to the re-sale of projects to subcontractors. Minister Ali Baban told AKnews that the re-sale system of secondary projects had a negative impact on the reconstruction of the country and that it would require […]
New Consulates Planned for Basra
The Russian and German ambassadors to Iraq said on Monday that their countries want to open consulates in Basra in order to develop economic relations with the provincial government. The news was announced following the two ambassadors’ visit to the governor of Basra province, Shiltagh Abboud, yesterday. The German Ambassador to Iraq, George Christian, told […]
Inflation Rises to 3.2% in October
An official from the Central Bank of Iraq said on Monday that the core annual inflation rate in Iraq jumped to 3.2 percent in October, from 1.9 percent in September, due to rising costs of housing, water and electricity. Spending on fuel is excluded from the calculations. "The inflation rate is still under control", senior […]
Egytians Want To Invest in Kurdistan
Rashid Mohamed Rashid, Egypt's Trade and Industry Minister, is to head a delegation of investors on a visit to Iraqi Kurdistan, to consider the possibility of establishing projects in industry, tourism, energy, housing and infrastructure in the Kurdistan provinces. Egypt is encouraging the private sector to go to Iraqi Kurdistan as part of the support […]
Three Romanian Companies Base Themselves in Kurdistan
An official from the Kurdistan Exporters and Importers Union said on Tuesday that three Romanian companies will open offices in the Kurdistan Region next week. The offices will be their only representation across Iraq and the Middle East. Bakhtyar Ahmed, the media secretary for the union, told AKnews the offices will be opened in Sulaimaniya […]
20 Swedish Companies Visit Kurdistan
Representatives of 20 Swedish companies met a group of businessmen from the Kurdistan region on Monday to discuss investment opportunities in the region. The meeting was organized by the Iraqi businessmen association in Kurdistan. “The meeting is a first step in learning about the Swedish companies and their experience,” Sardar Hassan, the association’s secretary general, […]
Sterling Energy Shares Slump after Broken Drill-Pipe in Kurdistan
Shares in Sterling Energy (AIM: SEY), the independent oil and gas exploration and production company operating in Iraqi Kurdistan, fell by 20% in early trading on Tuesday, following an update on the company's operations at the Sangaw North block, in which it has a 53.33% working interest. The Sangaw North-1 exploration well has been drilled […]
Iraq 2011 Budget Based on $73 Oil
The oil and finance ministries agreed to set the price of oil barrel at $73, to be endorsed in the 2011 state budget, oil ministry spokesman Assem Jihad told Aswat al-Iraq news agency at the weekend. “The agreement comes in light of an export rate of 2.3 million barrels per day (bpd), including the oil […]
Iraq's Navy Recieves Boats From US
Iraq Navy’s has received the first of nine military observation boats from the United States, according to a Navy Command source quoted by Aswat al-Iraq on Sunday. “The boat is part of an order for 9 boats, manufactured in the United States, according to a contract concluded previously,” he said. He continued that the "boats […]
New Baghdad-Doha Air Route
The spokesman for the Iraqi Ministry of Transport said on Saturday that direct flights between Baghdad and the Qatari capital, Doha will commence today [Monday]. Initially there will be only one flight per week, according to the report from AKnews. The spokesman stated that Iraq wants to open direct flights with all developed countries which […]
Iran Targets Iraq for Investment
The Head of Tehran's Chamber of Commerce, Industries and Mines, Yahya Al-Ishaq, said Iran regards Iraq as one of the major investment locations in the Middle East region, the local satellite Press TV reported on Monday. Iraq's market and economic relations with Iran is a great opportunity for Tehran, and any failure to grasp this […]