Minggu, November 30, 2008

Iraq Menyetujui Pembangunan Dua Penyulingan Minyak Baru

Iraq OKs Construction of Two New Oil Refineries

By Wisam Mohammed

Iraq's cabinet has approved the construction of two new oil refineries with a total capacity of 300,000 barrels per day, Iraq's Oil Ministry spokesman said on Sunday.

One of the refineries is to be located in northern Kirkuk province and the other in southern Maysan province, spokesman Asim Jihad told Reuters, adding that both had a capacity of 150,000 bpd.

A company has already been chosen to build the Kirkuk refinery, but Jihad declined to name the firm. A company has not yet been chosen to build the Maysan plant.

Firms had also not been chosen for two previously announced refineries -- one 300,000 bpd plant in Nassiriya province and the other a 150,000 bpd plant in Kerbala, both in Iraq's south.

All are open to foreign investment in partnership with the Iraqi government, except the Nassiriya refinery which is open to full foreign investment.

"These steps will satisfy our oil product needs," Jihad said, adding that some of the refineries' output are earmarked for export to neighboring countries.

Iraq has a severe shortage of motor fuel, despite sitting on the world's third-largest proven reserves of oil. Existing refineries have suffered from years of sanctions, under-investment and insurgent attacks.

( Reuters )

Jumat, November 28, 2008

Iraq Mengekspor 53 juta Barrel Dalam Sebulan

Iraq Had Exported 53 Million Barrels Within a Month

The Oil Ministry's spokesman Asim Jihad, declared in an interview with Al-Hayat paper, that Iraqi oil exports amounted to 52.8 million barrels a total value of 3.11 billion U.S. dollars in (October) the past. The average selling price of crude oil of 58.9 dollars per barrel.

He added that the amount of crude oil exports from Basra (via the ports of Basra and Khor al-Amaya located on the Arabian Gulf), amounted to 42.9 million barrels, worth 2.5 billion dollars, in quantities of oil exports from Kirkuk (via the Turkish port of Ceyhan on the Mediterranean) 9.9 million barrels, worth 603 Million, were distributed among 22 international companies.

The member of « Oil and Gas Commission » in Parliament Abdul Hadi al-Hassani, clarified that the emigration of qualified staff which Iraq suffered lately led to the deterioration of the oil sector and the low efficiency of the technical work. He attributed it resorts to contracts with international oil companies to the need for advanced technology in this sector and for much better investment.

And about the performance of the Iraqi oil ministry, He said that each Ministry has its parameters to set frameworks and work strategies, the good governance and how to use the proceeds to the development of financial work. He added: «the investment budget that devoted to the oil sector is still under the required level, we need an investment budget not operational». He stated that the reasons for the decline of the sector's performance due to hidden unemployment, and bureaucratic work in opening credits, which are an impediment to the government oil companies, and the oil port unprepared for export and the pipelines are obsolete. He called for «interest in addressing these imbalances in order to attract international companies to invest in Iraq».

The «Reuters» agency quoted to the Turkish (Anatolia )semi-official agency, that the flow of Iraqi oil through Kirkuk - Ceyhan pipeline to Turkey resumed yesterday, after extinguishing a fire broke out because of an attack by rebels from the PKKA Party in the province of Mardin in southeastern Turkey.

( Iraq Directory )

Selasa, November 25, 2008

Pendapatan Minyak pada Bulan Oktober Melebihi 3 Milliar US Dollar

Oil Revenues in October Exceed $3B

Iraq’s oil revenues in October 2008 have exceeded $3 billion, an official spokesperson for the Ministry of Oil said on Monday.

“Last month, the ministry exported 58.902 million barrels of oil through its northern and southern outlets,” Aasem Jihad told Aswat al-Iraq.

A total of 22 international companies from the United States, Asia, Europe, Jordan and Morocco were the importers, he added.

( Voices of Iraq )

Selasa, November 18, 2008

Obama Bersumpah Untuk Keluar Dari Iraq

US President-elect is determined to crush Al-Qaeda in Afghanistan, shut down Guantanamo Bay camp.



President-elect Barack Obama vowed to pull troops out of Iraq, crush Al-Qaeda in Afghanistan and shut down the Guantanamo Bay camp as part of a dramatic foreign policy break with George W. Bush.

Repairing the stricken US economy will be priority number one, even at the cost of still-bigger budget deficits, Obama said in his first major post-election interview broadcast on CBS program "60 Minutes" late Sunday.

Following his election triumph of November 4, Obama said at least one Republican would be in his cabinet and confirmed that he had met former Democratic primary rival Hillary Clinton last week.

But the president-elect refused to comment on speculation linking the former first lady to the job of secretary of state.

The man who will be the first black US president is accelerating his transition to inauguration day, resigning his Senate seat Sunday and appointing three more top aides to serve in his White House once he succeeds Bush.

As soon as that happens on January 20, Obama said, "I will call in the Joint Chiefs of Staff, my national security apparatus, and we will start executing a plan that draws down our troops" from Iraq.

"Particularly in light of the problems that we're having in Afghanistan, which has continued to worsen. We've got to shore up those efforts," Obama said in the interview, which was taped Friday.

On the campaign trail, Obama vowed to pull one or two combat brigades out of Iraq every month until after 16 months, only a residual security force of unspecified size remains. Some of those brigades would head to Afghanistan.

He told CBS that "it is a top priority for us to stamp out Al-Qaeda once and for all" and that killing or capturing the group's mastermind Osama bin Laden was "critical" to US security.

Obama pledged to tackle controversial offshoots of Bush's "war on terror" -- the US military's internment camp at Guantanamo Bay, Cuba, and harsh interrogations of captured terror suspects.

"I have said repeatedly that I intend to close Guantanamo, and I will follow through on that," the president-elect said.

"I have said repeatedly that America doesn't torture. And I'm going to make sure that we don't torture. Those are part and parcel of an effort to regain America's moral stature in the world," Obama added.

But he did not elaborate on where the Guantanamo prisoners would be taken, whether they would be transferred to civilian custody in the United States itself, put on trial, or released.

A command to redeploy troops out of Iraq or shut down Guantanamo could be done in short order under Obama's presidential prerogatives, and he is expected to reverse a slew of other contentious "executive orders" signed by Bush.

Obama said that in Congress, his first legislative priority was getting another stimulus package passed to prop up the enfeebled economy, if Democrats in the outgoing legislature fail to overcome Republican opposition.

As already shown in excerpts released by CBS, Obama said it would be a "disaster" for the government to stand by and let the cash-strapped General Motors and the auto industry in general collapse.

In line with the outcome of a summit Saturday of the world's 20 biggest economies, the president-elect said forging new regulation of the financial markets was essential to restoring the trust of consumers.

Obama appeared unconcerned about the red ink blotting the US government's finances, arguing economists from left and right agreed that "we have to do whatever it takes to get this economy moving again."

"And that we shouldn't worry about the deficit next year or even the year after. That short term, the most important thing is that we avoid a deepening recession," he said.

Joined by his wife Michelle in the interview, Obama said their two young daughters would get their promised dog, and expressed hope that Michelle's mother Marian Robinson would move in with them at their new residence.

Obama, a gifted writer who has authored two best-selling memoirs, turned wistful as he anticipated life in the White House fishbowl.

"That's something that I don't think I'll ever get used to. I mean, the loss of anonymity," he said. "And this is not a complaint, this is part of what you sign up for."

( Middle East Online )

Minggu, November 16, 2008

Penyulingan Minyak 10000 Barrel Per Hari dibuka di Dewaniya

Refinery Produces 10 000 B/d Opened in Dewaniya

Oil minister, Hussein Shehristani, opened Dewaniya oil refinery that its primary production capacity mounts 10 thousand b/d to add two units that produce 20 thousand b/d at near future.

At the same time, Finance minister, Baqer Jabr, declared that Iraq seeks multiplication to its oil exports by triple within 10 years through investing $ 2 billion at this sector in the next year and this goal requires holding negotiations with foreign companies to develop the oil infrastructure.

( Al-Sabaah )

Refinery Produces 10 000 B/d Opened in Dewaniya

Oil minister, Hussein Shehristani, opened Dewaniya oil refinery that its primary production capacity mounts 10 thousand b/d to add two units that produce 20 thousand b/d at near future.

At the same time, Finance minister, Baqer Jabr, declared that Iraq seeks multiplication to its oil exports by triple within 10 years through investing $ 2 billion at this sector in the next year and this goal requires holding negotiations with foreign companies to develop the oil infrastructure.

( Al-Sabaah )

Sabtu, November 15, 2008

Iraq Opens New Oil Refinery to Meet Growing Demand

Iraq has opened a new oil refinery in the southern province of Qadisiyah to meet increasing demand.

The refinery's senior engineer, Hussam Ali Jalmod, says the refinery opened Friday and will start producing in the next few days.

He says the plant's initial capacity is 10,000 barrels per day. It plans to double that by mid-2009.

Iraq has the world's third-largest oil reserves, totaling 115 billion barrels. But it suffers acute refinery shortages following years of U.N. sanctions and war.

The country currently refines just over 400,000 barrels per day at three main refineries and handful of smaller ones.

Qadisiyah province is 80 miles, or 130 kilometers, south of Baghdad.

( Associated Press )

Jumat, November 14, 2008

$2 Billion Iraq Plan to Boost Crude Production

Iraq aims to triple oil exports to six million barrels per day (bpd) in 10 years, earmarking $2 billion to start increasing capacity. "We are allocating about $2bn to the Oil Ministry in the next year's budget to start increasing capacity in this sector," Finance Minister Baqer Jabr Solagh said.

"From my view, we need to increase our exports at least to what they were in the 1980s, when we exported 3.4m barrels a day," he said.

Current production stands at some 2.4m bpd, of which 2m are exported.

Solagh pointed out that the oil industry's infrastructure and technology are woefully inadequate, however, and that the aid of foreign companies will be necessary if it is to achieve its goals.

"My view is that we have to deal with international companies, Europeans and Americans, and the others, because our technology... is still old, maybe dating back to the 1970s, as well as the equipment," he said.

"For that I think Iraq needs the help of the international oil companies to enter Iraq and do investment" either through revenue-sharing deals, or simple payment for service.

One such arrangement was concluded on Monday, when Iraq and China National Petroleum Corporation (CNPC) signed a $3bn deal to develop Al Ahdab oilfield in Wasit province for 23 years.

Production is expected to reach 25,000 bpd in the first three years and expand to 115,000 bpd in six years.

While output from the field will be exported, a portion of it will be used to fuel power generation stations nearby to alleviate electricity shortages, it added.

China won the rights to Al Ahdab in a 1997 deal then valued at $700 million, but activities were suspended because of UN sanctions and subsequent security issues following the US-led invasion in 2003.

Baghdad said earlier it had managed to change the previous joint venture contract into a mere service agreement, under which CNPC would charge a service fee of $6 a barrel. The fee will decrease eventually to $3.

In September, Royal Dutch Shell signed a gas joint venture estimated to be worth $4bn, becoming the first Western major to enter Iraq through a deal with Baghdad after nearly four decades.

Former dictator Saddam Hussein threw out foreign oil companies after he nationalised the sector in 1972.

Since his execution in 2006, a number of foreign majors had signed contracts with the government of the Kurdish region in the north, but none with the central government.

( Gulf Daily News )

CNPC, Iraq Sign 23-Year Service Agreement to Develop Al-Ahdab Field

On November 10, CNPC President Jiang Jiemin and Dr. Hussain Al-Shahristani, Iraqi Minister of Oil, signed a 23-year service agreement on the development of the Al-Ahdab Oilfield in Baghdad. Another Chinese partner, Zhenhua Oil, also signed at the contract copy. The contract is among Iraq's first batch of joint-venture oil projects since the US-led invasion in 2003, and is significant to expanding strategic energy cooperation between the two countries.

The Al-Ahdab Oilfield is located 180 kilometers southwest to Baghdad, with a structural area of 200 square kilometers. CNPC will use advanced and applicable technologies to increase the oilfield's production capacity to 25,000 barrels per day within three years, and to 115,000 barrels per day within six years.

( CNPC )

Shell Still Happy to Invest in Oil at $50/bbl

Royal Dutch Shell Chief Executive Jeroen van der Veer said on Thursday investing in oil projects could still be attractive with the price of $50 a barrel if taxes and royalties on oil production are not too high.

Executives and officials of oil producing countries have previously said oil prices of about $80 a barrel were needed to justify investment in new projects.

Asked if the $50 a barrel would justify oil production, Veer told reporters in Istanbul: "Yes I can produce, provided I do not have too high taxation and royalties ... That is in the hands of the government."

Veer said the Anglo-Dutch oil giant was "very much interested" in Iraqi oil contracts, which he projected would be distributed in 2009 and Shell was in talks with a number of companies about a possible consortium.

"We will make the bidding sometime in 2009 when we expect the contract to be given. We are talking for a consortium with an oil company and then bid maybe some weeks before the bidding starts." he said.

"After the contracts, we will have additional opportunities there."

However, some analysts and oil executives said the government's hopes of having deals by the summer were overly ambitious.

Shell signed an initial multi-billion dollar agreement in October with Iraq to capture gas that otherwise would be burnt off during production of oil.

Veer said their gas deal with Iraq depended on the safety of Shell workers there. "If staff safety is not guaranteed, we will withdraw our staff."

He said current financial distress will add more complexity to pipeline projects, already complicated by governments and the need for viable throughput.

"We do not invest in a pipeline project unless our hydrocarbon flows in it," he said in response to a question about whether Shell would take part in a Turco-Italian oil pipeline deal to pump its Kazakh and Caspian oil via the Black Sea and Turkey to the Mediterranean. "Let us study it now."

Shell said in October it would delay a decision on expanding its Canadian oil sands project as rising costs and falling crude prices raise questions about the profitability of the industry.

Veer said oil sand projects were "at the moment the most expensive" source of oil supply under the present level of oil prices.

( Xinhua News Agency )

Iraq to Triple Oil Exports to 6MM B/D in 10 Years

Iraq aims to triple oil exports to 6 million barrels a day in 10 years, earmarking $2 billion to start increasing capacity, Finance Minister Baqer Jabr Solagh told AFP.

"We are allocating about $2 billion to the oil ministry in the 2009 budget in order to start increasing capacity in this sector," Solagh said in an interview on Wednesday.

"From my view, we need to increase our exports at least to what what they were in the 1980s, when we exported 3.4 million barrels a day," he said.

"Iraq can export maybe after 10 years, 6 million barrels a day."

Current output stands at some 2.4 million barrels a day, of which 2 million barrels a day are exported.

Copyright (c) 2008 Dow Jones & Company, Inc.

Menteri : Irak Akan Melipatgandakan Export Minyak 3X dari Volume Sekarang dalam 10 Tahun

Iraq to Triple Oil Exports in 10 Years: Minister

Iraq aims to triple oil exports to six million barrels a day in 10 years, earmarking two billion dollars to start increasing capacity, Finance Minister Baqer Jabr Solagh told AFP.

"We are allocating about two billion dollars (1.6 billion euros) to the oil ministry in the 2009 budget in order to start increasing capacity in this sector," Solagh said in an interview on Wednesday.

"From my view, we need to increase our exports at least to what they were in the 1980s, when we exported 3.4 million barrels a day," he said.

"The ministry of oil has a plan, and the minister came to the cabinet and... said they will increase (exports) to six million barrels per day in 10 years."

Current production stands at some 2.4 million bpd, of which two million are exported.

Solagh pointed out that the oil industry's infrastructure and technology are woefully inadequate, however, and that the aid of foreign companies will be necessary if it is to achieve its goals.

"My view is that we have to deal with international companies, Europeans and Americans, and the others, because our technology... is still old, maybe dating back to the 1970s, as well as the equipment," he said.

"For that I think Iraq needs the help of the international oil companies to enter Iraq and do investment" either through revenue-sharing deals, or simple payment for service.

One such arrangement was concluded on Monday, when Iraq and China National Petroleum Corp (CNPC) signed a three-billion-dollar deal to develop the Al-Ahdab oil field in Wasit province for 23 years.

Production is expected to reach 25,000 bpd in the first three years and expand to 115,000 barrels per day in six years.

While output from the field will be exported, a portion of it will be used to fuel power generation stations nearby to alleviate electricity shortages, it added.

China won the rights to Al-Ahdab in a 1997 deal then valued at 700 million dollars, but activities were suspended because of United Nations sanctions and subsequent security issues following the US-led invasion in 2003.

Baghdad said earlier it had managed to change the previous joint venture contract into a mere service agreement, under which CNPC would charge a service fee of six dollars a barrel. The fee will decrease eventually to three dollars.

In September, Royal Dutch Shell signed a gas joint venture estimated to be worth four billion dollars, becoming the first Western major to enter Iraq through a deal with Baghdad after nearly four decades.

Former dictator Saddam Hussein threw out foreign oil companies after he nationalised the sector in 1972.

Since his execution in 2006, a number of foreign majors had signed contracts with the government of the Kurdish region in the north, but none with the central government.

( AFP )

Selasa, November 11, 2008

Grafik Peningkatan Kurs Dinar Iraq terhadap Mata Uang US Dollar (USD) & Indonesia Rupiah (IDR), Source : http://finance.yahoo.com/ (Nov 2008)

Peningkatan Kurs Dinar Iraq (IQD) Terhadap US Dollar (USD) Dalam 2 Tahun Terakhir. Source: http://finance.yahoo.com/




Peningkatan Kurs Dinar Iraq (IQD) Terhadap Indonesia Rupiah (IDR) Dalam 3 Bulan Terakhir. Source: http://finance.yahoo.com/


Iraq, China Sign $3b Oilfield Contract

Iraq and China signed a final contract to develop al-Ahdab oilfield at a value of more than $3 billion, an Iraqi oil ministry source said.

“Iraqi Oil Minister Hussein al-Shahrestani and Chinese Vice Minister of Commerce Wei Jianguo signed the contract on Monday at the oil ministry headquarters in Baghdad,” the source told Aswat al-Iraq.

The Iraqi cabinet had initialed the contract in August 2008, later ratified in September as a service, not a partnership, contract.

By virtue of the contract, the first three years will see deterioration on the oilfield production stopped and later on the development of the field to produce 200,000 barrels per day (bpd).

Al-Ahdab comprises seven explored wells that are expected to yield 200,000 bpd to be pumped through a pipeline to the al-Nassiriya station, and from there to the export harbors in southern Iraq.

The Iraqi oil ministry had recently hatched a plan to attract foreign companies to invest in the country’s oil sector and increase production to reach 4-4.5 million bpd by 2010 if the 80 explored fields were developed.

Al-Ahdab field lies in the district of al-Ahrar, (25 km) western Wassit province, 180 km southeast of the Iraqi capital Baghdad.

One of the non-invested Iraqi oilfields, al-Ahdab, discovered in 1979, boasts a reserve of 225 million bpd.

( Voices of Iraq )

Kamis, November 06, 2008

Iraqis receive US poll news with cautious optimism

Iraqis received the victory of Barack Obama with cautious optimism on Wednesday.

"The most important thing about the victory of Obama is the rejection of Bush and the Republican party policies which were very repressive to Iraqis in the past five years," Mohsen Al Hussaini, a resident of Al Sadr City told Gulf News.

In Fallujah, a city known for its strong anti-American attitude, citizens were over joyous.

"The defeat of McCain was met with great joy because the Republican administration was directly responsible for the destruction of Fallujah and the killing of its sons," said Mohammad Obaid. The office of the presidency in Iraq issued a cautious statement.

Fundamental change

"The election of Barack Obama as President of the United States will lead to tactical changes, but the overall goal will be unaltered. Obama speaks about accelerating the withdrawal of US troops from Iraq, but we will come to know in the coming months whether this will be feasible," Naseer Al Ani, head of the Office of the Presidency said.

Yassin Majid, advisor to Prime Minister Nouri Al Maliki admitted the change was exceptional, but also gave a reserved response.

"We do not expect a rapid and fundamental change in the situation of US troops in Iraq," he said.

But, the governor of Basra, Mohammad Mosbih Al Waili was more optimistic.

"I think that the situation in Iraq will be better under Obama, despite the fact that foreign policy towards the Middle East rarely changes, despite changes in administration," he said.

"Obama would be a more suitable leader to negotiate the departure of US troops from the country and I think Iraq will be better off dealing with him than President Bush," said Hussain Al Tahan the governor of Baghdad.

Kurds were excited by the Obama victory, but for different reasons.

"Vice-President elect Joe Biden is the leading proponent of dividing Iraq into three regions," said Zaheer Baiani, a media official in the Kurdistan Democratic Party.

If Iraq was divided, the Kurds would have their own country in the North, an aspiration they have long hoped for.

By Basil Adas

( Gulf News )

Selasa, November 04, 2008

Japanese companies want to invest in Iraq

More than twenty Japanese companies expressed desire to invest in the Iraqi market, mainly in oil field, the official spokesman for the oil ministry said on Monday.

“Oil Minister Hussein al-Shahrestani met the Japanese ambassador in Baghdad and representatives of more than 20 Japanese companies, specialized in oil field,” Essam Jihad told Aswat al-Iraq.

“The representatives expressed their desire to enter the Iraqi market and invest in the country,” he added.

“The minister expressed readiness to provide the companies with all facilities,” the spokesman noted.

( Voices of Iraq )

Iraq has allocated 15 billion dollars for reconstruction

Iraqi Government has allocated an amount of 15 billion dollars for the infrastructure reconstruction, especially oil installations, which takes a quarter of 2009 budget.

The Finance Minister Bayan Jaber said this amount is not related to the hundreds of billions that Iraq needs to redress the collapsed economy, calling on foreign investors to enter and contribute in this effort.

Jaber said at an Iraqi - U.S. symposium for investment in Baghdad that a study by the Government identified the needs of Iraq to 400 billion dollars to repair the destroyed infrastructure in war and establishing other facilities.

He added: "This is what compels us to resort to investment in several sectors including electricity, oil derivatives and refining, housing, infrastructure and banking sector."

The minister clarified that the thirty banks in Iraq are still struggling in the absence of capitals despite the government's support for continued lending, saying the current situation is "a window of opportunity to U.S. and the neighboring states banks for the partnership with our banks and enter the Iraqi market and give greater opportunities for loans."

Jaber added that the insurance sector is "primitive" in Iraq and it represents another opportunity for foreign companies.

The Iraqi economy began to recover slowly since 2003, also benefited from high oil prices this year.
However, Planning Minister Ali Baban has warned that Iraq must stop the dependence on oil revenues, which account more than 90 percent of its budget.

Baban warned that it was very dangerous to the country's economy depends on oil prices, making it vulnerable to any fluctuations.
The recent decline in the oil price has forced Iraq to reduce its budget for 2009 from 80 to 67 billion dollars.

( Iraq Directory )

Minggu, November 02, 2008

ID1b. for service projects in Arbil – governor

A local company embarked on carrying out a number of service projects in the city of Arbil at a cost of 1 billion Iraqi dinars (ID), tantamount to $833,000, as appropriated from the provincial development budget, Governor Nawzad Hadi said on Sunday.

“The company 99 for Public Contracting has started implementing pavement of a 4-km-long road in the newly established area of Ba-har in addition to sewage works and other service projects,” Hadi told Aswat al-Iraq.

“The new area, in eastern Arbil, is planned to have all the necessary services in a way coping with the urban development in the province,” he said.

Arbil, the capital city of the Iraqi Kurdistan region, lies 360 km north of Baghdad.

( Voices of Iraq )

Sabtu, November 01, 2008

U.S. official: we made huge steps to protect investors in Iraq

Deputy U.S. Treasury Secretary Robert M. Kimmitt on Saturday said that his country has made great steps towards protecting investors in Iraq.

The remark was made during a speech he gave at a U.S.-Iraqi economic conference that opened earlier today and was attended by Aswat al-Iraq.

The United States “has made great steps in protecting investors in Iraq and in encouraging trade and investment operations,” Kimmitt said, adding that economic development in the country will be rather slow because of the current security conditions.

“We are here to encourage the private sector and the international community is ready to develop the Iraqi economy,” the U.S. official added.

Earlier this morning, a U.S.-Iraqi economic conference opened in the capital Baghdad with the participation of high-ranking officials from both sides.

The conference, held at al-Rasheed Hotel in Baghdad’s fortified Green Zone, was attended by the deputy prime minister, Rafie al-Issawi, and the minister of finance, Baqir Jabr al-Zubeidi.

On Friday, the U.S. embassy in Baghdad announced that Deputy U.S. Treasury Secretary Robert M. Kimmitt, Deputy U.S. Commerce Secretary John J. Sullivan, Ambassador Ryan Crocker, and other U.S. officials would attend the conference.

The governor of the Central Bank of Iraq (CBI), Sinan al-Shibibi, and the head of the National Authority for Investment, Ahmed Ridha, were among the participants.

( Voices of Iraq )

12 investment projects on the way in Wassit

The head of Wassit’s Investment Authority on Saturday revealed plans for 12 investment projects in the province as part of a 2008 provincial investment plan.

“Today, the authority put forward 12 investment projects in the province and announced their estimated cost, principal and the amount of land needed for them,” Sattar Jabbar told Aswat al-Iraq.

The projects included the construction of a modern theme park, a tourist city, an oil factory, a cement factory, residential buildings and others.

A Shiite province, Wassit, 180 km south of Baghdad, is in the east of the country. Its name comes from the Arabic word meaning “middle,” as it lies along the Tigris about midway between Baghdad and Basra.

Its major cities include the capital, al-Kut, and al-Hayy. Prior to 1976 it was known as Kut Province.

( Voices of Iraq )

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