Preheat oven to 350 degrees F (175 degrees C). Grease a 9×5 inch loaf pan.
Cut orange into wedges, and remove seeds. Place orange, peel and all, in a food processor. Pulse until finely chopped; set aside.
In a large bowl, cream butter and sugar until smooth. Beat in the eggs one at a time, then stir in the pumpkin, water, and the ground orange. Mix together flour, baking soda, baking powder, salt, cinnamon, and cloves. Stir into batter just until moistened. Stir in nuts and raisins. Spoon into the prepared loaf pan.
Bake for 1 hour in the preheated oven, or until a toothpick inserted near the center comes out clean. Let stand 10 minutes, then remove from pan, and cool on a wire rack.
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