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  • Investors Iraq News's Avatar
    Today, 02:53 AM
    Farming families in northern Iraq’s Nineveh Governorate will benefit from a European Union contribution of €15 million to the Food and Agriculture Organization of the United Nations to recover agricultural livelihoods. The area, which includes the city of Mosul, was known as the country’s ‘breadbasket’ before conflict caused widespread damage and displacement. This project is expected to directly benefit almost 10,000 vulnerable farming families (around 60,000 people), as well as flow-on benefits for local service providers and labourers. “As part of the EU’s commitment to the whole of Iraq, supporting the regions so tragically devastated by the recent conflict remains a high priority. By reviving agriculture in Nineveh, a key sector of the economy, this new project will help communities and returnees in rural areas, increasing their income and employment opportunities,” said Ramon Blecua, European Union Ambassador to Iraq. “We are grateful to the European Union for this generous contribution to help us rehabilitate key agricultural facilities and equipment. Getting these services operational again will be a big help for farmers and local businesses,” said Mustapha M. Sinaceur, FAO Representative a.i. in Iraq. “Creating jobs in the heartland of agriculture, where so many jobs depend on the rich soils of Nineveh Governorate, is vital for community stabilization,” he said. The impact of conflict on the agricultural sector has been devastating and includes damage to water systems, irrigation facilities and other agricultural infrastructure, disruption of value chains and losses of personal assets, crop and livestock production, and food supplies. Since the Iraqi government announced the defeat of Islamic State, also known as Da’esh, a year ago, many people have returned, encouraged by the efforts to ensure a secure and safe environment. However, some areas still lack basic services and job opportunities for both returnees and those who remained. FAO and the EU working together for family farmers The EU-funded project supports smallholder farming families to diversify incomes, increase resilience, and provide nutritious and healthy diets. The project will support vulnerable smallholder farmers to resume vegetable production, introduce efficient irrigation water use and management, encourage agri-food processing, improve small-scale dairy processing and marketing, and boost animal fodder production and conservation. Women, in particular, will be supported to participate in home-based vegetable and dairy production and processing. Unemployed young agriculture graduates will be encouraged to benefit from training to gain employment as agri-food processors, farmer field school and farmer business school facilitators, community animal health workers, market information system operators, and food security and nutrition data collectors and analysts. Together, these activities will respond to families’ immediate needs for food and essential non-food items as well as restoring agricultural livelihoods that generate income and employment over the longer term. At the same time, the project aims to restore vital government infrastructure and support services to the agriculture sector that have been destroyed, damaged, or looted. The project is an EU contribution to the UN’s Recovery and Resilience Programme (RRP) in Iraq. It is part of a larger package of support (€ 184.4 million euros) the EU has contributed to support stabilization and humanitarian efforts undertaken by the UN in support of the Government of Iraq since 2016. FAO’s response in Iraq Under the Iraq Humanitarian Response Plan 2019, FAO is working to ensure rural families have the resources to re-establish and secure their agricultural livelihoods and build their resilience into the future. FAO’s work, in close coordination with the Iraqi government, supports families returning to retaken areas, internally displaced families, host communities and refugees from Syria. (Source: FAO) Source: Iraq-BusinessNews.com. Post your commentary below.
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  • Investors Iraq News's Avatar
    Today, 02:53 AM
    By John Lee. In its preliminary results for 2018, Petrel Resources gave the following update on its activities in Iraq: We had high hopes of commercial success in Iraq. It has the best oil geology on the planet with drilling success over 90% and a $2 to 4 a barrel production cost. But the political risk offsets all of this. Petrel first entered Iraq in 1997 and had initial success in obtaining a large exploration block in the Western Desert between Baghdad and Amman Jordan. We were seeking development rights to any one of the many proven but undeveloped oil fields but we needed to establish our credentials. We undertook exploration work but were frustrated by sanctions which stopped us from drilling. We continued involvement with the Iraqi Oil Ministry and undertook extensive technical work, with Itochu of Japan on the Merjan oil field. Post 2003 we were awarded a development contract on the Subba and Luhais oil fields. Bureaucratic interference and payment problems forced Petrel to sell out in 2010. We maintained our interest and appointed an Iraqi Arman Kayablian to work in Iraq. We purchased a 20% stake in Amira Hydrocarbon which had joint operations with Oryx Petroleum, in the Wasit province.* The joint venture failed to obtain a licence. In 2018 the agreement was dissolved and some 20 million Petrel shares returned to the company. We have recently appointed Riadh Mahmoud Hameed to the Petrel board. Riadh worked as project co-ordinator for six years for Petrel in Iraq. Activities are normalising in Iraq. There are many oil projects in Iraq which need to be developed. Petrel will be making a case to be part of the development. Interest is reviving in Iraq. We now have the people to seek out operations on the ground.** (Source: Petrel Resources) Source: Iraq-BusinessNews.com. Post your commentary below.
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  • Investors Iraq News's Avatar
    Today, 12:51 AM
    From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Iraq’s vast oil wealth once paid for some of the best health services in the Middle East. But decades of conflict and political unrest have led to, what the government admits, a crisis in hospitals. Things are particularly bad in Basra province where people have long complained of government neglect. Around 70 children are being treated for cancer in Basra Children’s Hospital. Experts say pollution from surrounding oilfields is one of the reasons why Basra has the highest rate of cancer in Iraq. Al Jazeera‘s Charles Stratford reports: Source: Iraq-BusinessNews.com. Post your commentary below.
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  • crazyfrank's Avatar
    Yesterday, 02:06 PM
    crazyfrank replied to a thread 6-15-2019.fb in Iraqi Dinar Rumors
    ok this is something to share now, this guy "Dinar Investor" on u-tube firmly is advertising that this entire dream is coming to an end this coming Saturday/Sunday when the Iraqi Parliament finish's the vote on the remaining 4 minster positions beyond that he has made the claim he knows what exact time of day the rate change will happen?????? now that's a gutsy call way beyond anyone I have ever seen anyone ever claim to know, all I can say I hope he is correct here's the link on u-tube............. www youtube com/watch?v = QgqXVh8Rjyc <----- I had to modify this link text and put in some spaces between words to get it to post here
    1 replies | 349 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 12:20 PM
    By John Lee. A rocket has hit a residential and oil operations headquarters near Basra city, wounding three workers at an Iraqi drilling company. The short-range Katyusha missile hit a compound in Burjesia which is used by several international oil companies (IOCs), including ExxonMobil. Oil production and exports are not expected to be affected. (Sources: The Guardian, Bloomberg, Xinhua) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 0 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 12:20 PM
    By John Lee. The Iraq Britain Business Council (IBBC) has welcomed two new members. Protechnique — a British contractor providing premier technical, engineering, construction, management and capacity building support throughout the world; to federal, regional, and local government agencies, as well as private industries and multi-lateral agencies; UniHouse — a global professional training, consultancy and education service provider based in Jordan. (Source: IBBC) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 0 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 12:20 PM
    By John Lee. Indian-based Asian Oilfield Services Limited has announced that it has won orders totalling $37 million in Iraq. The orders relate to seismic acquisition at Block 12, with $12 million for a 2D survey and $25 million for a 3D survey. Block 12, located in the Najaf and Muthanna provinces, is being developed by Russia’s Rosneft, and PetroVietnam. According to a statement issued to the Bombay Stock Exchange, the order is to be executed within FY20 and FY21. The company has previously carried out 3D surveys at the Shakal block and Taza block in Iraqi Kurdistan. (Source: Asian Oilfield Services) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 0 view(s)
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