$21m for 2,000 Farmers in Karbala
A total of 25 billion Iraqi dinars [$21m] have been granted to farmers in Karbala in recent months to help them to increase their production, the director of the Karbala agriculture department said on Wednesday. “The Karbala agriculture department has granted 2181 farmers agricultural loans worth more than 25.229 billion dinars,” Baher Ghali told Aswat […]
IKCO to Export 31,000 Cars to Iraq
The Iranian car manufacturer IKCO plans to expand its overseas sales in the Middle East, while boosting exports to Iraq has already increased the company's market share in that country by 30 percent. Models such as the Samand, Peugeot 405, 206 and Roa are the most popular for export to Iraq, mainly as police cars […]
Halliburton Wins Majnoon Drilling Contract
Halliburton has won a contract to drill 15 wells at the super-giant Majnoon oilfield, operated by Shell and Petronas, according to a report this afternoon from Reuters. (Source: Reuters) Related articles: Moody’s Boosts Petronas Rating on Iraq Exposure Shell to Award Deals to Develop Iraq’s Oil Fields Iraqi Oil Ministry Sets 2014-15 Targets for Crude […]
Petrofac Wins Contract For Crude Processing in Iraq
Petrofac (LSE: PFC) has won a contract to build two new crude oil processing plants with a capacity of 50,000 barrels per day each, and to rehabilitate an existing crude oil plant, an official at Iraq's Oil Ministry has reported to Reuters. (Source: Reuters) Related articles: Halliburton Wins Majnoon Drilling Contract Petrofac Targets Iraq Oil […]
ENI Target 15% Increase From Zubair By December
The managing director of the Italian national oil company, ENI, confirmed on Monday that the company aims to increase oil production by 15 percent in southern Iraq’s Zubair oil fields by the end of this year. AKnews reports that the remarks by Gino Jianoa came during a visit to Basra to discuss the Zubair contract […]
Daily Oil Output Up in July, Down in August
Iraq exported over 57 million barrels of oil in July, an average of 1,850,000 barrels per day, said Iraq’s deputy oil minister on Sunday. Speaking to AKnews, Mutasam Akram said the country’s oil exports had decreased by around 50,000 barrels a day during the month of August. In May, the country exported over 85 million […]
Weatherford Starts Drilling in Amara
U.S. firm Weatherford embarked on drilling a new oil well in eastern al-Amara city on Sunday, as part of a $224 million [262 billion Iraqi dinars] deal to drill 20 wells in 0rder to increase oil production, said Missan Oil Company’s information director. “Weatherford started drilling the new well in the al-Bazrakan oilfield, (70 km) […]
Production Resumes at Baiji Refinery
Iraq's state-owned North Refineries Company yesterday said it had re-started production at its Baiji oil refinery, and was looking to boost production levels to 80 per cent to make up losses after a shutdown, according to a report from Gulf Daily News. The refinery normally operates at 70pc of its capacity. An official at the […]
Pirates Rob Ships' Crews Off Basra
Gunmen robbed the crews of four ships anchored off Iraq's southern oil hub of Basra last week, in Iraqi regional waters patrolled by the U.S. Navy, a Navy official said on Sunday. The attackers targeted the Antigua-flagged Arminia, North Korea's Crystal Wave, Syria's Sana Star and the American ship Sagamore last Sunday and took personal […]
US Contractor Investigated for 'Overcharging'
Federal prosecutors in the U.S. are investigating whether a major contractor overcharged the government. They are investigating allegations that the Louis Berger Group (LBG) submitted inflated invoices to the U.S. Agency for International Development (USAID), which oversees international development projects. The company works in countries including the U.S., Iraq, Afghanistan and India. LBG's Chairman, Derish […]
Innovative Agriculture Loan for Farmers in Ninawa
Access to quality financial services, especially for rural small-scale farmers is a challenge anywhere in the world. USAID-Tijara microfinance institution (MFI) partner Tal’afar Economic Development Center (TEDC) launched a new agricultural loan product focused on small-scale rural farmers to help them meet this challenge in the northern Iraq Province of Ninawa. At a ceremony to […]
Iraqi Labour Minister Rejects Joining WTO
The Iraqi Minister of Labor and Social Affairs, Mahmoud al-Sheikh Radhi, has rejected the idea that Iraq should join the World Trade Organization (WTO). “My ministry examined this issue considering its effects on the levels of labor and unemployment,” the minister told Aswat al-Iraq news agency on Sunday. He noted that his ministry has conclusively […]