IRAQ. The Ministry of Oil of Iraq has signed an Implementation agreement for the construction under BOO terms of the Refinery of Karbala with RKC (Refinery of Karbala Corporation Ltd.)
The new Refinery will have a daily capacity of 200,000 barrels of Crude Oil and will produce high quality, high octane gasoline (regular and premium) as well diesel fuel for the domestic market.
“Karbala Refinery will be located 100km south of Baghdad on a 6 square kilometer plot of land, and will be the most advanced state of the art refinery with almost full conversion rate and with an estimated cost of
Posted: February 27, 2016
IRAQ. Iraq's economy is weakening, however S&P thinks the unfunded IMF Staff-Monitored Program recently approved will help pave the way to a possible IMF financing arrangement in 2016.
Posted: January 29, 2016
IRAQ. The value of the contracts signed totals more than US$1 billion; Technology upgrades, advanced solutions and maintenance to generate added power from MoE's fleet of GE's heavy duty gas turbines across the country.
Posted: January 19, 2016
UAE. Nine of the 13 MENA sovereigns are investment grade; Egypt, Iraq, Jordan, and Lebanon are speculative grade; Oman and Saudi Arabia ratings lowered on the sharp deterioration in their fiscal deficits; GCC members to maintain their exchange rate pegs to the US dollar over the medium term.
Posted: January 5, 2016
INTERNATIONAL. The U.S.-Russia standoff, surging nationalism in Europe, Turkey's re-emergence, low oil prices, falling Chinese consumption, military campaigns against the Islamic State and other geopolitical currents will tie in to and feed off of one another.
Posted: December 30, 2015
INTERNATIONAL. US$10 trillion worth of investment will need to flow into oil and gas through 2040 in order to meet the world's energy needs. The group expects oil prices only reaching US$80 per barrel in 2020 and hitting US$95 in 2040.
Posted: December 15, 2015
IRAQ. Byblos Bank inaugurated its fourth branch in Iraq and the first for a Lebanese bank in the City of Sulaymaniyah, in the presence of Mr. Abdul Rahman Saleh, General Director of the Central Bank of Iraq.
Posted: December 12, 2015
INTERNATIONAL. Ideological confrontation of IS philosophy alone is unlikely to eradicate the threat. Tackling the root causes of the appeal of jihadism will.
Posted: December 4, 2015
INTERNATIONAL. The evidence does plausibly point toward forcing realignment of local tribal groups against ISIS, and the maintenance of crucial supplies to resistance groups throughout the region, both corroborated with past actions by U.S. and coalition forces, and counterterrorism strategy.
Posted: November 17, 2015
INTERNATIONAL. Global economic cost of terrorism reached all-time high at US$52.9 billion; Iraq continues to be the country most impacted by terrorism.
Posted: November 10, 2015
IRAQ. Honeywell Process Solutions and Honeywell UOP will help Karbala refinery meet Iraq's growing energy demand.
Posted: November 7, 2015
IRAQ. UNICEF supports efforts to protect children and communities against the disease.
Posted: November 6, 2015
IRAQ. Basra - home to 70% of Iraq's gas reserves and 59% of its oil - offering investment opportunities in key sectors and provides a secure environment for developers to enter.
Posted: October 12, 2015
IRAQ. First IPP project of Mass Global Investment Company outside Kurdistan to help meet country's growing demand for electricity; Basmaya plant is part of the massive housing development project only 30 km away from Baghdad.
Posted: October 11, 2015
UAE. "The key to resolving conflicts in Iraq and Syria is the adoption of a comprehensive, inclusive approach that focuses on broad based politics. Russian involvement in Syria complicates such efforts.”
Posted: October 7, 2015
INTERNATIONAL. President Putin's recent moves in the Middle East-to shore up Bashar al-Assad's regime, and the agreement with Iran, Iraq, and Syria on intelligence and security cooperation-could contribute to Russian efforts to combat the myriad negative pressures on its vital energy industry.