Australian mission finds emerging Kurdistan
The Australia Arab Chamber of Commerce and Industry (AACCI) recently (12-17 April) led a select group of Australian companies to the Kurdish region of Iraq in pursuit of business opportunities. They found an economy, now emerging after decades of isolation and neglect, buoyed by growing foreign investment, supported by oil and gas revenues, and underpinned […]
Exhibitors from 45 Countries to Converge at Automechanika
The focus of the region's automotive service industry will be set on the Dubai International Convention and Exhibition Centre, as Automechanika Middle East 2010 gets under way tomorrow, Tuesday May 25th. Dubai is the primary trade and logistics hub for the wider region and plays a key role in the region's automotive trade. Figures just […]
The remarkable survival of Rafideen Bank
The Manager of Rafideen bank, Alyasiry, said Wednesday that the bank has overcome a recommendation by a foreign company to sell or privatize the bank. The company was called in to evaluate the bank’s financial situation after 2003. He says that the bank is working on completing the rules of comprehensive electronic exchange which would […]
Indians Discuss Investment in Basra
Indian Charge d’ Affaires in Baghdad discussed on Monday with Basra deputy governor ways of boosting investment cooperation and the possibility to open an Indian consulate in the province, according to an official spokesman of the deputy governor. “Deputy Governor Nezar Rabia al-Jaberi discussed on Monday (May 24) with Indian Charge d’ Affaires in Baghdad, […]
West Qurna 1 to See 8 New Wells
The initial development plan agreed by Exxon Mobil (XOM.N) and its partners for Iraq's West Qurna Phase One oilfield includes drilling eight new wells and overhauling up to 50 wells this year to boost output, an Iraqi oil official said on Monday. International oil service companies will be invited to drill four new wells and […]
Hundreds of Turkish Firms Invest in Iraqi Kurdistan
Hundreds of Turkish firms have flocked to the semi-independent Kurdish enclave in northern Iraq, benefiting from a newly issued law easing curbs on foreign investments. Latest figures by the Kurdistan Investment Commission show that more than half of the foreign firms in the enclave are Turkish. In a statement, the commission said there were 620 […]
Iran To Boost Non-Oil Exports To Iraq
Iran plans to increase its non-oil exports to Iraq to US$7.5 billion annually from the current US$4.8 billion, the secretary-general of Iran-Iraq economic development centre said on Sunday. "Iran mainly exports foodstuff and construction materials to Iraq," Mehr News Agency (MNA) quoted Hassan Danaiifar as saying Sunday. "Currently, over 8,000 tonnes of cement is being […]
Four Injured in Blast Near Oil Company in Northern Iraq
Four security guards were injured Sunday when two explosive devices detonated near the entrance of an oil company in the northern Iraqi city of Kirkuk, a police source said. Security forces cordoned off the area and launched a search operation for those behind the blast, which targeted the North Oil Company, northwest of Kirkuk, Helo […]
A government of everyone and no-one
If a week is a long time in politics, it is a very long time in Iraq. The first day of this week in Iraqi politics witnessed a Sunday 23 May meeting between Iraqiyya leader Iyad Allawi and Grand Ayatollah Ali al-Sistani. On the same day, the Washington Post released a new interview with Prime […]
Oil Ministry Achieves $1 Billion Surplus in 2010
Oil revenues in the first four months of 2010 reached $17 billion, exceeding by one billion the general budget’s expectations, spokesman for the oil ministry said on Friday.
State-Backed Overseas Majors Move In To Develop Iraqi Fields
CNOOC's attempts to enter a number of foreign markets, such as the US, rejected over concerns of control of strategically important energy assets - the firm has long been attempting to enter markets where it is likely to be greeted with less hostility, such as Iraq.
Baghdad Approval to Pay Foreign Oil Companies in Kurdistan is Temporary
Baghdad approval to pay for foreign companies in Kurdistan region is temporary and does not constitute a solution