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By John Lee. The World Bank's International Center for Settlement of Investment Disputes (ICSID) has appointed an ad hoc committee to consider the possible annulment of an award made in favour of the Iraqi Government, in relation to a dispute over the alleged takeover of a cement factory in Kirkuk. Germany's AHG Industry GmbH & […]
By John Lee. Baghdad and Erbil have agreed a deal to resume oil exports from northern Iraq. Exports of crude oil from Iraqi Kurdistan and Kirkuk had been suspended since last week after a ruling from the Paris-based International Court of Arbitration that Turkiye can not allow exports from the autonomous region by pipeline to […]
By Ragip Soylu for Middle East Eye. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. 'Hollow victory': Iraq is not really a winner in the Turkey oil arbitration case Ankara is likely to pay only a few hundred million dollars to Iraq, which […]
By John Lee. Oil exports from Iraqi Kurdistan were suspended on Saturday after a ruling that Turkiye can not allow exports from the autonomous region by pipeline to the port of Ceyhan (pictured). The Paris-based International Court of Arbitration, which operates under the auspices of the International Chamber of Commerce (ICC), found that Turkiye was […]
Siemens Energy has been awarded long term service contracts for several powerplants, from the Ministry of Electricity of the republic of Iraq, to improve energy stability and availability, as well as provide training, skills, and employment opportunities for Iraqis. These contracts represent the first portion of prioritized projects under the Iraq Energy Agenda - Wave […]
By John Lee. Germany's AHG Industry GmbH & Co. KG has applied for an annulment of the recent award made in favour of the Iraqi Government, in relation to a dispute over the alleged takeover of a cement factory in Kirkuk. The World Bank's International Center for Settlement of Investment Disputes (ICSID) had previously dismissed […]
By John Lee. Iraq's Minister of Oil has announced upcoming investment opportunities in the refining industry. Minister Hayan Abdul-Ghani said the plans include increasing refining capacities as follows: Al-Amarah refinery (150,000 barrels per day); Al-Muthanna refinery (100,000 barrels per day); Kirkuk refinery (100,000 barrels per day); Qayyarah refinery (70,000 barrels per day), and, a new […]
By John Lee. The Iraqi Civil Aviation Authority (ICAA) has announced the opening of Kirkuk International Airport. Transport Minister Nasser Al-Shibli inaugurated the new facility on Sunday. The authority indicated that the airport has completed all international standards and requirements to be ready to receive all flights. (Sources: ICAA, Ministry of Transport)
By John Lee. The World Bank's International Center for Settlement of Investment Disputes (ICSID) has reportedly dismissed a German investor's claim arising out of the Iraqi Government's alleged takeover of a cement factory in Kirkuk. In the case (ICSID Case No. ARB/20/21), AHG Industry GmbH & Co. KG was said to be claiming $878 million […]
By John Lee. Iraq has re-started the export of crude oil by road to Jordan. Jordanian Minister of Energy and Mineral Resources, Dr. Saleh Al-Kharabsheh (pictured), announced on Monday that loading had commenced at Kirkuk, instead of the previous site at Baiji. The memorandum of understanding (MoU), which was signed on 28th January 2021, has […]
By John Lee. Iraq and Jordan have reportedly agreed to re-start the export of crude oil from Kirkuk to the refinery at Zarqa in Jordan. The most recent deliveries to Jordan by truck were in January, and according to Jordan Times they are expected to resume in April. Exports have previously been agreed at 10,000 […]
Germany Increases Support to Boost Employment Opportunities in Iraq with New EUR 18m Contribution Germany and the United Nations Development Programme (UNDP) have today signed a EUR 18.29 million agreement (US$ 21.78 million) to boost employment and economic opportunities for vulnerable communities in Iraq. The generous contribution is the second provided to the Building Resilience […]
