Another Tender to Supply Halfaya Oilfield
China's CNPC and its partners have invited bids from energy companies to supply a liquefied petroleum gas (LPG) compressor unit for the 4.1 billion-barrel Halfaya oilfield, according to a report from Reuters. This is in addition to the tenders we reported on last week. State-run Maysan [Missan] Oil Company has invited bidders to supply and […]
Iraq's Crude Oil Exports Fell in August
Iraq's crude oil exports fell in August to 1.789 million barrels per day, a source at the Iraqi Oil Ministry said on Tuesay, according to Reuters. Average exports from the southern oil hub of Basra reached 1.45 million bpd, while exports from oilfields in the north around Kirkuk averaged 339,000 bpd. A combination of attacks […]
What the Ramadan Bombings Tell Us about Security in Iraq
By Dr Michael Knights, Vice President and lead Iraq analyst at Olive Group. The holy month of Ramadan – which ended on 11 September – is meant to be a time of peace, but in Iraq it has more often been a testing time for the Iraqi Security Forces (ISF) and the United States. Insurgents […]
Groundstar Resources Operations Update
We reported yesterday on Vast Exporation's Qara Dagh operations in Kurdistan. Groundstar Resources (TSXV: GSA), Vast's partner in the project, have now given their take on the situation: Qara Dagh-1 well is drilling 12 1/4 inch hole at about 2,200 meters. The well was spud on 12 May 2010 with a planned total depth of […]
Iraq Cuts October Crude Supplies
Iraq will supply crude to two Asian term buyers at between 5 percent and 10 percent below contracted volumes for October, compared with near full volumes for September, traders said. (Source: Tehran Times)
Iraqi banks more than meets the eye
An unusual feature of many of the listed Iraqi banks is that investments account for a greater share of their deposits than loans. This is true, for example, of Mansour Bank (BMNS), National Bank of Iraq (BNOI), Commercial Bank of Iraq (BCOI), Gulf Commercial Bank (BGUC), Bank of Baghdad (BBOB), and Middle East Investment Bank […]
300 International Firms to Build 2 Million Houses
A source in the Iraqi Ministry of Reconstruction and Housing said on Wednesday that the country’s “housing crisis” will be resolved by 2020 according to a plan devised by the government. Istabraq al-Shok [Istabraq Al-Shouk], the Deputy Minister of Construction and Housing, told AKnews the government will build “two million housing units of international quality.” […]
Iraq wants to join WTO
We reported last month that Iraqi Minister of Labor and Social Affairs, Mahmoud al-Sheikh Radhi, had rejected the idea that Iraq should join the World Trade Organization (WTO); now a source in the outgoing Iraqi government said on Monday that Iraq is in negotiations to become a member. An Iraqi task force was established in […]
Lufthansa Postpones Munich to Baghdad Route
German airline Lufthansa has postponed its scheduled Sept. 30 startup of a Munich-to-Baghdad route, citing a lack of customer interest, according to a report from Businessweek. Company spokesman Christoph Meier said that bookings "were far below the expectations", and that no new date had been set for the launch of the service. The news is […]
Gulf Keystone Interim Results
Gulf Keystone (LSE: GKP), the independent oil and gas exploration company focused on exploration in the Kurdistan region of Northern Iraq, has announced its interim results for the six months to the end of June: Interim Results for the six months ended 30 June 2010 HIGHLIGHTS Financial Summary · Loss after tax $3.1 million (1H09: […]
Iraq Oil Policy Needs Radical Change
A former Iraqi oil minister says the country needs a “radical revision” of its current oil policy in order to adapt to the new changes in the world. Speaking to AKnews, Ibrahim Bahr al-Ulum said, “Despite efforts by the oil ministry to raise the level of oil production, Iraq still lags behind other oil-producing nations.” […]
Qubad Talabani Reports on Economic Progress in Kurdistan
Qubad Talabani, the son of Iraqi President Jalal Talabani and Representative to the United States from the Kurdistan Regional Government, is on a two day trip to Orlando, Florida during which he will address the Orlando Area Committee on Foreign Relations and meet with students and faculty at the University of Central Florida. The Kurdistan […]