Platts Survey: OPEC Pumps 29.12m bpd in June
The 12-member Organization of the Petroleum Exporting Countries' (OPEC) crude oil production output averaged 29.12 million barrels per day (b/d) in June, down 160,000 b/d from an estimated 29.28 million b/d in May, according to a just-released Platts survey of OPEC and oil industry officials and analysts. Lower volumes from Iraq and Nigeria accounted for […]
Basra Governor Considers Oil Projects with Int’l Company
Basra's Governor, Shaltagh Abboud al-Mayah, held discussions on Thursday with a company regarding projects in the oil sector, a media source said. “Al-Mayah met with a delegation from the Top Oilfield company to discuss the maintenance of oil rigs in Basra,” the source told Aswat al-Iraq news agency. “The meeting also addressed the local government’s […]
United States to Sell F16 Jets to Iraq
AK News quotes a spokesman of the American military in Iraq as saying that they will supply Lockheed Martin F-16 jets to the Iraqi Air Force. "There are discussions between Baghdad and Washington to buy F-16 jets to support the Iraqi security forces and the Iraqi air force," Gen. Stephen Lanza said. "My country is […]
Kurdistan to Get Additional 500MW Early 2011
The Spokesman of Kurdistan Electricity Ministry declared that the completion of Dohuk's power generating station will cover the power requirements of Kurdistan. Dohuk's 500 megawatt power generating station is comprised of four units, each producing 125 megawatts, Diyar Baban told AKnews on Thursday One of the units is expected to be ready by the end […]
Lesson 5 - At The Hotel
LESSON 5: AT THE HOTEL AHmed drives Ryan to the front door of the Baghdad Hotel. AHmed: Haatha finduq Baghdad. Itfathal, ustaath. أحمد: هذا فِندُق بَغداد . إتفَضَل أُستاذ . This is the Baghdad Hotel. Please, sir. Ryan: Ashkurak. Shgad il ujrah? Aani nsayt inta shgilitlii. راين: أشکُرَك . شگد الأُجره ؟ آني نسیت إنتَ […]
Erbil Stock Exchange eschews ‘gateway’ role
On July 6, the website of Kurdistan’s Peyamner News Agency reported that Iraq’s second stock exchange had “opened” in the Kurdish city of Erbil. It wasn’t clear what was meant by opening, however. The Erbil Stock Exchange (ESX) was licensed in February and trading is not due to start until later this year. I believe […]
$238m Real-Estate Development in Baghdad
CNN reports that work will soon begin on one of the biggest real-estate projects in post-Saddam Hussein Iraq, which some say is a sign things are looking up for the country's economy. Iraqi-Jordanian real estate company Amwaj International is behind the ambitious Baghdad development, called Baghdad Gates. The scheme will cost $238 million and will […]
Iraqi Government to Build 32 Dams
The Iraqi water expert Mohammad Hnedy announced today that the Water Resource Ministry (WRM) plans to establish 32 water dams, according to a report from AK News. The first stage of the designs are already completed. “There is a concern that the project might cause tensions among the provincial governors and political leaders in Iraq,” […]
China Increases its Investments in Iraq
China didn't take part in the U.S.-led invasion of Iraq or the bloody military battles that followed. It hasn't invested in reconstruction projects or efforts by the West to fortify the struggling democracy in the heart of the Middle East. Workers at al-Waha Oil Co. in the southern Iraqi town of Wasit are part of […]
Iraq's Oil Exports Hit 1.9m bpd
Iraq's crude exports in June averaged 1.9 million barrels per day, the same level as the previous month, the head of the State Oil Marketing Organisation said. Average exports from the southern oil hub of Basra reached 1.45 million bpd while exports from oilfields in the north around Kirkuk averaged 450,000 bpd, SOMO head Falah […]
Egypt and Iraqi Kurdistan Discuss Economic Cooperation
Egypt's Prime Minister, Ahmadi Nazi,f met with visiting President of the Kurdistan Region in Iraq, Massoud Barzani, on Monday [5 July] tp discuss economic and trade cooperation. Nazif asserted Egypt's support for the political process in Iraq and efforts to form an Iraqi government as soon as possible to achieve unity and stability in the […]
Investments in Erbil to Exceed $7bn
Investment projects in the capital of Kurdistan region, Erbil, are estimated at $7.5bn, the deputy governor reported on Tuesday. "We expect that investment will increase in the coming years,” Tahir Abdullah said. The projects have been carried out in different sectors, such as industry, reconstruction, agriculture and housing projects in Erbil, Abdullah noted. A member […]