Iraq: Baghdad is set to award France-based rail engineering and consulting firm Systra a contract to supervise a project to build an underground railway in the capital city, Aswat al-Iraq has reported. ‘Companies from the US, Russia, Germany, France and South Korea will be invited to submit their final bids for the project after a [...]
Iraq: Iraqi Kurdistan has said that the semi-autonomous region plans to publish disputed oil deals it had made with foreign firms, Kurdish natural resources minister Ashti Hawrami told Reuters. Kurdistan and Baghdad have been in a disagreement for months over oil deals Kurdistan signed independently with foreign firms. The Arab-led government in Baghdad refuses to [...]
Iraq: Mudher Kasim, a senior advisor at Iraq’s central bank, has said the country expects to redenominate its dinar currency by omitting three zeros off the nominal value of bank notes to facilitate currency transactions, Reuters has reported. ‘The goal is to improve the payment and receiving system in the country and consequently to reform [...]
Iraq: Iraqi state-owned oil marketing firm Somo will price sales of US-bound crude at differentials to the Argus Sour Crude Index (ASCI) benchmark from April onwards. [AMEInfo.com]
Iraq: Falah Al-Amri, head of the Iraq’s Oil Marketing Co. has said that that oil sold to the US will be priced off the Argus Sour Crude Index starting in April, Bloomberg has reported. The marker will replace an index based on sweet crude contracts traded on Nymex Holdings Inc.’s New York Mercantile exchange. According [...]