The latest news on Iraq – Kuwait business – investment, Disputes and more – brought to you by Iraq Business News
By John Lee. The managing director of the National Iranian Gas Company (NIGC) has said it is possible for Iran to export natural gas to Kuwait through Iraq. Hamid Reza Araqi was quoted as saying that the pipeline which is being built to export gas to Iraq could be used for this purpose also. Iran […]
By John Lee. Kuwait Energy and Egyptian General Petroleum Corporation (EGPC), the national oil company of Egypt, have jointly announced the signing of an agreement whereby EGPC has farmed in a 10 percent participating interest in the Block 9 license. The Block 9 field is located in the Basra Governorate, in Southern Iraq. The signing […]
By John Lee. Several major project announcements are expected shortly in Diwaniyah, according to a report from ConstructionWeekOnline. These including projects attached to the $1.35bn Al-Diwaniyah International Commercial Airport (pictured), which is to be built by Kuwait’s Al-Nasriyah Company, and is due to be completed by the end of 2017. Other projects include a $210-million […]
By John Lee. Three Iraqi civilians were reportedly killed on Wednesday when a booby-trapped truck exploded near the Kuwaiti border in Iraq. The Kuwaiti news agency KUNA quoted a local Iraqi official as saying that the explosion happened at a garage near the main road about 12 km (7.5 miles) north of the Safwan border […]
By John Lee. Kuwait will host the 23rd soccer Gulf Cup in early 2016, after Iraq declined to host the tournament due to a deficit in the State budget. According to Arab News, Iraq will instead bid to host the 24th edition of the Cup. Iraq had been due to host the event in Basra. […]
By John Lee. Kuwait's Al-Nasriyah Company has signed an agreement to build a new airport in Diwaniya. The $1.35-billion airport will be operated by the company under the 45-year contract. Following the signing ceremony, the Governor of Diwaniya, Ammar Al-Madani, said the airport will cover an area of seven dunams (roughly 17,500 sq. m.) in […]
By John Lee. The Kuwaiti deputy prime minister, Sheikh Subah Al-Subah [Sheikh Sabah Al-Khaled Al-Hamad Al-Sabah], arrived in Baghdad on Sunday for an official visit. The two sides discussed the promotion of relations between the countries, and the efforts to fight terrorism. Sheikh Al-Subah said that Iraq represents a basic pillar to stabilize the region, […]
By John Lee. US News have reported on the presence of several thousand American armoured vehicles being serviced at a US base in Kuwait, in possible preparation for their movement into Iraq. The vehicles are primarily MRAPs (Mine Resistant Ambush Protected vehicles) expensive bulletproof and IED resistant trucks that became a key tool in the US […]
By John Lee. The U.N. Compensation Commission (UNCC) agreed on Thursday to allow Iraq to postpone its final payment of reparations to Kuwait for the Gulf War. Iraq will have until January 2016 to begin paying the remaining $4.6 billion (5.4 trillion Iraqi dinars) that it owes for the destruction of oil fields during its […]
By John Lee. Reuters reports that Kuwait has accepted an Iraqi government request to delay payment of $4.6 billlion in war reparations, pending further discussions in Geneva. The reparations were imposed by the U.N. Security Council following Iraq's 1990 invasion of Kuwait, but the country's finances have been strained by the falling oil price and […]
By John Lee. Iraq's Finance Minister, Hoshyar Zebari (pictured), has told Reuters that he is trying to postpone the final $4.6 billion installment of reparations for its 1990-91 occupation of Kuwait. To fund its reparations commitments, Iraq pays 5 percent of its crude oil exports to the U.N. Compensation Commission (UNCC). So far, nearly all […]
From ProactiveInvestors. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Sara Akbar, the chief executive of privately-owned Kuwait Energy, says the company has no issues working in southern Iraq despite the current conflict in the country. She says being native to Iraq makes life […]
