Momentum Logistics Opens New Office in Erbil
Momentum Logistics, the Sharjah-based third-party logistics (3PL) service provider and subsidiary of international port management company, Gulftainer, has officially opened its new office in Erbil. The new office will allow Momentum to react more efficiently to the daily needs of its clients. Erbil is the management centre of the Northern Iraq's oil industry, and Momentum […]
Iraq Govt Allows Kuwaitis to Recover Real Estate Seized by Saddam
Iraq has agreed to allow Kuwaitis who owned real estate in Iraq to recover property seized under Saddam Hussein's regime after the invasion of Kuwait 20 years ago, according to a report from Reuters. Kuwaitis can recover their Iraqi property provided there is no legal decision prohibiting it, Iraq’s government spokesman, Ali al-Dabbagh (pictured), said […]
Companies Selected for US Trade Mission
Francisco Sánchez, Under Secretary of Commerce for International Trade, will lead a historic trade mission to Baghdad, Iraq, in October. Sánchez will accompany representatives from 14 U.S. companies on the department’s first trade mission to Iraq since the end of the U.S. combat mission in Iraq. “The U.S.-Iraq bilateral relationship is entering a new phase […]
Warka Bank Hits Back at Rumours
Warka Bank issued a statement on Wednesday refuting the rumours (click here for more details) that it was in financial difficulty: Dear Warka Clients, With regard to the rumors that have been circulating against our bank by ill competitors please note that our bank is well supervised and monitored by the highest financial authority in […]
$66bn New Projects from Abu Dhabi Developers
Dr Sami al Araji, the chairman of Iraq's National Investment Commission, has said that Abu Dhabi-based developers have closed deals worth $66bn [79 trillion Iraqi dinars] for housing projects in Iraq. The companies involved are Bloom Properties and Al Maabar. Bloom Properties' projects include a $30bn development in Karbala, and $15bn to provide 300,000 dwellings […]
His Excellency Thamir Al Ghadhban on the Future of Iraq’s Oil and Gas Sector
Interview with the Chairman of the Advisory Committee to the Prime Minister, and Former Oil Minister, His Excellency Thamir Al Ghadhban. Reproduced with permission from The Energy Exchange, whose Iraq Future Energy 2010 conference runs from 27-28 September 2010 at the Point Hotel Barbaros, Istanbul, Turkey. With over 35 years direct and hands on experience […]
$18m Projects Approved in al-Hindiya District, Karbala
Eleven projects worth 21 billion Iraqi dinars (roughly $17.8 million) were approved for implementation next year in al-Hindiya district, eastern Karbala, according to Hindiya's Mayor. “The local administration gave the thumbs up to 11 projects as part of the Provincial Development Budget (PDB) in al-Hindiya, (20 km) east of the city of Karbala, for implementation […]
Romgaz to Explore in Kurdistan?
Romanian natural gas producer Romgaz is interested in petroleum resources in the autonomous region of Kurdistan, in northern Iraq. But according to the report from Financiarul, the Romanian news agency, any investment will depend to a great extent on the “very delicate” political situation in this region, deputy general manager Francisc Toth (pictured) said in […]
Britain Should Move Ahead in Iraq and Kurdistan
By Bayan Sami Abdul Rahman, Kurdistan Regional Government High Representative to the UK The Lib Dems are proud of their internationalism. It was one thing to oppose the intervention in Iraq and to continue as mistakes after the fall of Saddam were laid bare, but Iraqis like myself are keen to see your party develop […]
Gulf Keystone Update on Kurdistan Operations
Gulf Keystone Petroleum provided an update on its operations in the Kurdistan Region of Iraq this morning. The shares are down 3% in early trading, but have more than doubled in the past three months, partly on rumours of a take-over. Shaikan Long Term Test Facilities The recently constructed production test facilities near the location […]
More Details on Iraq's Giant Shipping Deal
We reported on Saturday that Iraq's Transportation Ministry has bought 66 ships from 'an international company'. Further investigation shows that the ships will be leased for a 5-year period from the Swiss company Global Refinery. The Swiss firm will also provide extensive training for the Iraqi workforce, including specialized programs for technicians and engineers. "There […]
Basra Investment Boss to Speak at Iraq Mega Projects 2010
Basrah is central to the biggest oil and gas projects that will be taking part in Iraq over years to come and in order for contracts to go ahead, approval and consent is needed from the local authorities for projects to commence. Iraq Mega Projects 2010 Conference & Exhibition, taking place in Istanbul, Turkey, on […]