The Clock is Ticking
Twice in recent days, senior Iraqi government officials have stressed the need to solve the parliamentary stalemate internally within Iraq, without influence from outside: Prime Minister Nouri al-Maliki specifically warned the United States not to interfere in the country’s internal affairs, while Vice President Adel Abdul-Mahdi reportedly described it as “an internal affair and non-Iraqis […]
Weekly Security Update
National Overview Nationally recorded incident levels saw an increase from 85 to 108 in the reporting period. The main reason for the increase was Sunni insurgent targeting of Shia pilgrims en route to the Moussa Kadhim shrine in Baghdad. The north central and Baghdad regions continued to account for the majority of hostile incidents. Baghdad […]
Foster Wheeler Awarded Basra Crude Oil Contract
Foster Wheeler AG (Nasdaq: FWLT) announced today that its Global Engineering and Construction Group has been awarded a project management consultancy (PMC) services contract by South Oil Company (SOC) for the Iraq Crude Oil Export Expansion Project onshore in southern Iraq and offshore in Iraqi waters. SOC is a company under the Ministry of Oil […]
West Qurna Phase-2 Tenders Open
Russia's Lukoil and Norway's Statoil have started issuing tenders for the multibillion project to develop Iraq's supergiant West Qurna Phase 2 oil field in southern Iraq, a person familiar with the plans said Sunday, as reported by Reuters. The "first tender is a 3D seismic survey at the field", the person said. A second tender […]
Electricity Ministry to Increase Production with Foreign Help
The Iraqi Electricity Ministry is seeking to increase electricity production to 10,000 MW during the next 3 years," the Director of the Planning & Studies Department at the Electricity Ministry said on Monday. "The Ministry has developed a plan parallel to the Investment Plan and presented it to investors in the electricity sector to implement […]
Iraq Kurds Say to Crack Down on Fuel Smuggling
Iraq's northern Kurdish region is cracking down on fuel oil smuggling through the area and across Iraq's borders, the government of the semi-autonomous region said on Sunday. The Kurdish Regional Government (KRG) issued a statement in response to a New York Times story on Friday that said hundreds of millions of dollars worth of crude […]
BP Spill Won't Affect Iraq Projects: Oil Minister
Iraq's oil minister said on Saturday he sees no impact from the massive oil spill at a BP well in the Gulf of Mexico on Iraq's current or future projects to develop its giant oilfields. BP has promised to pay damages to those hurt by the worst oil spill in U.S. history and has committed […]
Fuel Crisis in Baghdad Again
"The queues at gas stations in Baghdad were the result of the shortage of electricity and the high temperatures," the spokesman of the Iraqi Oil ministry said today. "The high temperatures prompted citizens to store petrol for their home generators," Assim Jihad said. "The Ministry is regularly providing the stations with fuel and gasoline," he […]
Financial Sector Developing in Kurdistan
Both public and private sectors are working hand in hand to establish and develop a modern financial sector in the Region that can support the economic growth in the Region, measure up with international standards, and be connected to world markets, something that is key to the soundness and efficiency of this sector. The sector […]
India Seeks to Invest in Ninewa
India's Charge d’Affaires has expressed his country’s keenness to invest in projects in Ninewa. This came during his first visit to the province and his meeting with the governor and a number of his advisors. Abdulmajied Bader expressed hopes of possible cooperation in various fields, mainly in information technology, communications, textiles and health. He suggested […]
Trade Ministry to Issue 2011 Trade Guide
The Iraqi Trade Ministry is preparing to issue the Iraq Trade Guide of 2011. “The guide will include a database of more than 46,000 local, Arab, and international firms officially registered in Iraq,” a source from the ministry told Aswat al-Iraq news agency. He noted that the project highlights investment, economic, tourist, and cultural aspects […]
Qadisiyah Govt and Iranian Companies Agree on Investment
A preliminary agreement was concluded between Qadisiyah local government and a group of Iranian companies to invest in the province, the director of the Investment Committee in Diwaniyah reported on Monday. "The Investment Committee and the head of Qadisiyah council met a delegation from a group of Iranian companies to discuss the possibility of investing […]