Iraq: Sami al-Araji, the head of Iraq’s National Investment Commission has said that one million housing units will be constructed by the commission across the country, Aswat al-Iraq has reported. “The cabinet decided to double the number of housing units to one million after 100 specialized foreign companies had expressed their willingness to invest in the (housing) sector,” al-Araji was quoted as saying. Iraq needs two million housing units, according to a five-year plan drawn up by the investment commission for the years 2010-2014. [AMEInfo.com]
Browsing Posts in Iraq Oil Fields
Iraq: The natural resources minister of Iraq’s Kurdistan has said the region is ready to export oil at a rate of 100,000 barrels per day (bpd) through neighbouring Turkey, Aswat al-Iraq has reported. “Oil exportation from Kurdistan will start as soon as a new Iraqi government is formed,” Ashti Horami was quoted as saying. Exports could rise to 500,000bpd by the end of the year Horami said. [AMEInfo.com]
Iraq: After a 20-year interval, Lufthansa is resuming flights to Iraq. On 25 April 2010, Germany’s largest carrier will launch services from Frankfurt to the city of Erbil in Northern Iraq. Lufthansa customers will have a choice of four flights per week on this new route. [AMEInfo.com]
Iraq: German carrier, Lufthansa has said that it will resume flights to Iraq on April 25. The new route will offer four weekly flights to Erbil in Northern Iraq from Frankfurt. Lufthansa will operate the four-and-a-half hour flight with an Airbus A319 with 132 seats in Business and Economy Class. The airline said it is preparing to resume flights this summer to the Iraqi capital Baghdad. [AMEInfo.com]
Iraq: The Iraqi oil ministry has said the country has made $4.23bn in revenues from exporting 57.9 million barrels of crude oil last February at the price of $73 a barrel, Aswat al-Iraq has reported. A total of 45.2 million barrels have been exported from Basra oilfields and 12.7 million barrels from Kirkuk, the ministry said. [AMEInfo.com]
Iraq: The Iraqi Civil Aviation Board has given its approval for plans for a new international airport in Salahaddin province, Meed has reported. The $140m airport will have a capacity for some two million passengers every year, and will comprise one runway and one taxiway, the Salahaddin Investment Commission said. The airport is expected to open in 2012. [AMEInfo.com]
Iraq: China has become the biggest single investor in Iraq’s oil and gas sector, with nearly one fifth of the reserves that have been auctioned over the past year under its control, Meed has reported. China is spending a total of $577m in signing on fees to give it access to an estimated 24 billion barrels, or about 18% of the reserves on offer, the magazine said, citing its own data. Chinese investment doubles the US’ signing on fees, which has committed $296m to control about 12 billion barrels, the magazine added. [AMEInfo.com]
Iraq: A preliminary agreement has been signed between ArcelorMittal, the world’s largest steelmaker, and its Turkish partner Dayen to set up a steel mill in Northern Iraq to serve the construction industry in the region, Reuters has reported. Construction of the mill is planned to start in the second quarter of 2010, while production is scheduled to commence early in the fourth quarter of 2011. The mini-mill, which will use locally sourced scrap metal to make steel reinforcing bars, is set to cost the two firms $100m to $130m in total, and could produce as much as 500,000 tonnes per year. [AMEInfo.com]
Iraq: Iraq has announced the signing of an initial agreement with China’s CNOOC and Sinochem to develop the 2.5-billion-barrel Maysan oilfield complex, Reuters has reported. The two firms made an unsuccessful bid for the three Maysan fields in Iraq’s first auction of oilfield contracts last year. But since then they had decided to accept the government’s proposed remuneration fee of $2.30 for every additional barrel of oil produced. CNOOC and Sinochem had projected plateau output of 450,000 barrels per day when they first made the bid last year. [AMEInfo.com]
Iraq: Iraq has signed a deal with Boeing to buy 10 787 Dreamliners on behalf of its flag carrier, Iraqi Airways, the National has reported. The contract was reported on Boeing’s orders and deliveries website this week, although the deal was apparently concluded on December 22. The aircraft are worth a total of $1.7bn at list prices, but after standard discounts the Iraqi deal is probably worth $1.1bn, the newspaper reported, citing Avitas, a US-based aircraft valuation firm. [AMEInfo.com]
