Gazprom to Offer $10 Bn of Bonds
Russian "Gazprom" plans to issue $ 10 billion bonds 2010 to 2015. The organizer and the Under-guarantor of the bonds to be found by competitive tender. It is expected to raise between $ 167 million and $ 334 million at a nominal value of $ 33 .33 for a period of between one and three […]
British Firms in Basra Investment Conference
British and Iraqi companies have attended a Basra-based conference on investment opportunities in the province, a local official said on Saturday. “The conference was organized by the Basra Investment Commission in cooperation with Amar al-Khayr Organization at Manawi Pasha Hotel,” the head of the commission, Haydar Ali Fadel, told Aswat al-Iraq news agency. “The event […]
New Project to Build Oil Refinery in Basra
Iraq Directory reports that Basra's Director of investment, Haider Ali Fadel, said on Wednesday that the Authority is currently considering a proposal from a local investor to build an oil refinery in the province. He stated that the Basrah Investment Commission is prepared to send all requests for the establishment of such projects to the […]
Power Pylons to Up Capacity to 363 MW
An agreement has been reached on Friday with a Turkish exporter of ready-to-use power pylons to increase capacity from 240 to 363 megawatt (MW) in Basra, according to the provincial council’s electricity committee chairman. “The capacity of one pylon, due to arrive in the port of Umm Qasr soon, will be upped from 105 to […]
Lukoil in Talks on Developing Giant Oil Field near Basra
Azzaman reports that Russian energy giant Lukoil is discussing with local officials in Basra the details of implementing its contract to develop the West Qurna-2 oil field. Governor Shaltah Aboud is reported to have promised the Russians “to engage in full cooperation and do his best to remove all obstacles.” “We have discussed with Russia’s […]
$300m to Improve Water Supply in Baghdad
The Baghdad municipality has allocated 353 billion Iraqi dinars (about $300 million) to improve and extend drinking water networks in the capital. A total of ID226 billion ($190m) has been earmarked to establish a water purification center at the Rasafa Water Project, according to a statement received by Aswat al-Iraq news agency. (Aswat Al Iraq)
Arabs Urged to Speed up Economic Integration
Arab finance and economy ministers opened a meeting in Kuwait on Thursday with calls for speeding up economic integration, and establishing a customs union by 2015, reports AFP. The ultimate aim is to establish a full Arab common market by 2020. "We must have a working program with a timetable to implement Arab joint ventures […]
Iraq Adjusts Oil Pricing, and Adopts the ASCI Benchmark
loomberg reports that Iraq raised the official selling prices for crude delivered to the U.S. and lowered them for Europe. The March price for Basra Light oil for delivery to the U.S. rose by 80 cents, to a discount of $4.35 below West Texas Intermediate crude, according to a statement from Iraq's Oil Ministry. The […]
Fair for Women Handmade Products in Arbil
A fair for women handmade products has been opened in Arbil city, with the participation of 150 women from the provinces of Kirkuk, Arbil, and Sulaimaniya. The fair that started on Thursday at the capital of the Iraqi Kurdistan region is considered the first of its kind in Iraq.
Iraq to Negotiate with France to Recover 651 Million Euros for Jet Payment
Iraq is trying to recover a 651 million euro (895 million dollar) payment from France for a consignment of Mirage F1 fighter planes that were never delivered, the cabinet’s official spokesman said. “A ministerial committee was recently formed to negotiate with the relevant French parties the recovery of 651 million Euros paid in advance under […]
Iraq Minister of Industry and Minerals Partakes in Indo Arab Economic Co-operation Forum
Iraq Minister of Industry and Minerals Fawzi Hariri took part in the inauguration of the Indo Arab Economic Co-operation Forum in New Delhi which is being held under the auspices of the Indian Chamber of Commerce and Industries. Officials, businessmen and investors from both public and private sectors from the entire world attend this Forum […]
Iraq to Join EITI
The administrative board of the Extractive Industries Transparency Initiative (EITI) has unanimously agreed to accept Iraq as a member, the Iraqi Ministry of Oil said on Thursday. The administrative board, comprised of 20 members, includes representatives of the permanent states, civil society organizations and extractive companies, according to a ministry statement received by Aswat al-Iraq […]