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Iraq: Iraq's oil ministry has once again delayed its fourth energy bidding round for 12 new gas and oil exploration blocks, this time to May 30-31 after making major changes to the contract, Reuters has reported. "The oil ministry has decided to delay the fourth bidding round until May 30-31 to give more time for the interested companies to study the new, amended contract," said Abdul-Mahdy Al-Ameedi, director of the ministry's "We have made major changes and amendments on the initial contract that concern the economic and contractual terms and the result was a new model contract," Ameedi said. "The companies now need more time to study the new amended version, analyse it and review their calculations." contracts and licensing directorate.
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Iraq: Tupperware Brands are launching new program at this week's World Economic Forum (WEF), designed to create a new generation of female entrepreneurs in post-war Iraq. The Global Links Program is a yearlong externship that it is hoped will aid the country's economy and empower women in business. "While Iraq is poised to experience double-digit economic growth over the next few years, a strengthened private sector is required to support long-term recovery and success," said CEO Rick Goings. The initiative comes out of a partnership with the US Secretary of State's Office of Global Women's Issues and Florida's Rollins College, exemplifying this year's conference theme of 'Shaping New Models'.
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Iraq: The Iraqi government has approved a $998m oilfield service contract with a South Korean firm for the West Qurna Phase Two oilfield, Reuters has reported. An Iraqi oil official, who asked not to be identified said, the deal was with Samsung Engineering, the only South Korean company on the final shortlist.
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Iraq: Iraq's oil ministry has said the country's crude oil exports rose 3.7% in December to 66.5 million barrels, generating $7.06 billion in revenue, Bloomberg has reported. Average daily crude exports for the month reached 2.15 million barrels, said ministry spokesman, Asim Jihad. Iraq, the third-largest OPEC oil producer, plans to boost output capacity this year to 3.4 million barrels a day and export capacity to 2.6 million barrels, oil minister Abdul Kareem al-Luaibi said on January 18. Exports will benefit from four new offshore loading facilities in the Arabian Gulf that will go into service by 2013. Each can handle 850,000 barrels a day, he said.
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Iraq: The Iraqi government has invited foreign companies to compete for a $450m monorail project in the southern holy city of Kerbala, Reuters has reported. The 18-km monorail would be built from a northern entrance to the city to the main Shi'ite shrines in the central area and then towards the north-eastern city entrance. Kerbala, 80km southwest of Baghdad, hosts the shrines of two Shi'ite imams and is the site of several major religious rites. "The project has an economic advantage and will solve the (problem of moving) throngs of people during religious events," said Taif Abdul-Hussein, head of the Kerbala investment commission.
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