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 tagged iraq
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: 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]
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.
Iraq: TigerSwan announced today it has been awarded the contract for Personal Security Detail Services in support of the Task Force for Business and Stability Operations (TFBSO) in Iraq. [AMEInfo.com]
Iraq: Dhiya Jaafar, the head of Iraq’s South Oil Co, has said that talks between Iraq and a Japanese group led by Nippon Oil Corp to develop the Nassiriya oilfield have reached a ‘dead end’, Reuters has reported. ‘Talks with the Nippon group have reached a dead end, and we will start developing the field through national efforts,’ he said. Nippon and its partners, oil explorer Inpex Corp and plant engineering firm JGC Corp, had been negotiating the deal since the first half of last year. [AMEInfo.com]
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 pay the firms, and oil exports from Kurdistan stopped last year, the news service reported. [AMEInfo.com]
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]
