The latest investment news from Iraq – news on the Dinar, finance and more – brought to you by Iraq Business News
The balance of risk and reward for investing in Iraq's vast oil reserves is changing, according to a report by Turner Investments. The report, called Oil in Iraq: A Profitable Gamble? considers safety risk for oil company employees and their families, risks to operations from bombs and landmines, and political risks ranging from a line of […]
Prime Minister of the Kurdistan Region, Barham Salih, visited major investment projects that are underway in Sulaymaniyah, the most populous city in the region. At a foundation stone-laying ceremony for Majidi Mall, a major retail building project, prime minister Salih said that direct investment in the Kurdistan Region has surpassed US$13bn. Investment won't stop there: […]
A tourist resort has been opened this week in central Amara, 150km north of Basra, at a cost of more than 12 billion dinars, reports Aswat al-Iraq. It is part of a 2007 plan to construct a tourist town in the southern city, which is better known for its marshes and Mesopotamian sites. “Adan tourist resort […]
Committees don't just sit around in Iraq. On 19th October the Iraqi government created a committee to increase business and economic relations with Turkey. Now, a member of the committee has said that the two countries are going to increase commercial exchange up to $12bn in 2011, reports AKNews. This is a more than three-fold increase on previous […]
Baghdad's airport road was considered the most dangerous motorway in the world, but the city is now turning it into "the most beautiful street in the world", according to AFP. The US military had called it "RPG alley" (that's rocket-propelled grenade), as road users were at the receiving end of particularly frequent attacks during 2006 and 2007. […]
It may be that the International DBX Trade Fair in Sulaymaniyah city in the Kurdistan region was one trade fair too many in Iraq, as it was unable to draw in the numbers that it wanted to in the four days to Sunday, 14th November. And yet, despite being held in the middle of nowhere easy […]
By Stan Harbison, Vice President of Research and Analysis at energy consultants EPRINC. The current efforts to dramatically increase Iraq’s oil production are huge in scale and revolutionary in forming a working partnership between Iraq’s own oil industry and the world’s largest oil companies. But more important at the present is the fact that they […]
Further to our reports of major gas contracts being agreed in principal on 20 October for three fields holding 11 trillion cubic feet of gas (4 trillion cubic metres), most of them have now been signed. Turkish Petroleum Corporation (TPAO), Kuwait Energy and Kogas won the right to operate Iraq's Mansuriyah gas fields and have committed to producing 320m cubic feet of […]
Project management specialists Parsons Brinckerhoff stated the obvious this week by saying Iraq is “risky, but full of opportunity”. After the war, the security and energy sectors were the most obvious risky opportunities. Re-building Iraq's decaying and war-torn infrastructure has come a close second. Since then, however, opportunities have snowballed into retail and agriculture, and […]
Request for expressions of interest: Technical assistance to Kurdistan Investment Board The Kurdistan Board of Investment of the Kurdistan Regional Government (BoI - KRG) seeks professional assistance to enhance the quality of the board's evaluation process from various perspectives, including the technical review and assessment of the investment proposals submitted to the board. The main […]
Iraq's developing situation continues to astound me when I contrast it with much of the west. Take the UK, where Prime Minister David Cameron has on 20 October announced £81bn ($127bn) of cuts from total government expenditure of £661bn ($1,040bn), the largest budget cuts in decades by a large margin. All this it needs to […]
Iraq's oil pipelines are decades past their use-by-date. “We are afraid of anything happening to them,” said Deputy Oil Minister Ahmad Shamma, according to Iraq Oil Report. US concerns for the ageing infrastructure were pushed as early as 2008, but now billions of dollars are being invested to create new pipelines to protect Iraqi oil […]
