World's Most Dangerous Motorway gets Beauty Treatment
Baghdad's airport road was considered the most dangerous motorway in the world, but the city is now turning it into "the most beautiful street in the world", according to AFP. The US military had called it "RPG alley" (that's rocket-propelled grenade), as road users were at the receiving end of particularly frequent attacks during 2006 and 2007. […]
Another Expo, Another $50m Invested in Iraq
It may be that the International DBX Trade Fair in Sulaymaniyah city in the Kurdistan region was one trade fair too many in Iraq, as it was unable to draw in the numbers that it wanted to in the four days to Sunday, 14th November. And yet, despite being held in the middle of nowhere easy […]
Global Companies Move Aggressively on Iraqi Oil
By Stan Harbison, Vice President of Research and Analysis at energy consultants EPRINC. The current efforts to dramatically increase Iraq’s oil production are huge in scale and revolutionary in forming a working partnership between Iraq’s own oil industry and the world’s largest oil companies. But more important at the present is the fact that they […]
More Wheat for Iraq
Iraq has just signed more orders for 100,000 tonnes of wheat from the USA, another 100,000 from Australia, and 50,000 from Ukraine. Iraq imports lots of wheat, with which it manufactures flour to use with its ration cards. The ration cards are seen by some Iraqis as better than money and for many are essential support. […]
Will the New Government Bring Security?
After the main factions agreed a government-forming deal on Wednesday it was followed by a two-day Parliament walkout, but the new government now seems a little firmer. Shiite Nouri al-Maliki will remain prime minister and Kurd Jalal Talabani will stay on as President, while Osama al-Nujaifi, a Sunni Arab, has been selected as parliament speaker. Other […]
Huge Gas Deals Signed
Further to our reports of major gas contracts being agreed in principal on 20 October for three fields holding 11 trillion cubic feet of gas (4 trillion cubic metres), most of them have now been signed. Turkish Petroleum Corporation (TPAO), Kuwait Energy and Kogas won the right to operate Iraq's Mansuriyah gas fields and have committed to producing 320m cubic feet of […]
$100 Oil To Boost Iraqi Budget
Iran's oil ministry has said that prices of US$70-$90 would not hurt the global economy, and even $100 might be safe. "Consumers and producers are unanimous that the oil at $70-$90 prices are suitable prices and will not hurt the global economy," Mohammad Ali Khatibi said. "There are thoughts that an increase in the price of oil […]
Property Bubble in Iraq
Property prices rose fast in Baghdad in recent years, going up 50% and even 100% in many places. Now, Nina News reports that property-price rises in Wasit Province, halfway between Baghdad in central Iraq and Basra in the south-east, are "insane". Prices in the province are far exceeding those of neighbouring ones. The price per […]
Global Warming Makes Farming Difficult
Water levels in the Tigris and Euphrates rivers, two of Iraq's main water sources, are falling and temperatures in Iraq are rising, according to the UN Interagency Information and Analysis Unit. The rivers have dropped to less than a third of normal capacity and desertification is spreading. "The tendency of rainfall in general is continuously declining," said Deputy […]
Vast Exploration Stock Jumps After Kurdistan Update
Shares in Vast Exploration jumped 16% on Friday after giving the following update on its operations in Kurdistan: - The Qara Dagh -1 well was spud on 12 May 2010 with a planned total depth of 3,600 to 4,000 meters. - As previously reported, the well encountered a 64 meter thick Aalijii zone, potentially containing […]
Record Iraqi Oil Exports to Jordan
The Iraqi Oil Ministry said on Friday that Iraq's oil exports to Jordan have reached a post-invasion peak of 12,000 barrels per day. Assem Jihad, the ministry spokesman, told AKnews that the Oil Ministry is seeking to increase its oil trade with Jordan in line with the size and economic importance of Amman in the […]
Danish Company to Boost Karbala's Electricity
Karbala's local government has signed a contract with a Danish company to install five new electrical generators in the province. The head of the Strategic Planning and Constructing committee, Abbas Nasser Hassani told AKnews that a delegation from Karbala local government signed the contract with Danish company Simko, which has offices in Turkish capital, Ankara. […]