By John Lee. Iraq’s Ministry of Oil has announced the offering of a new investment refinery in Basra province. The facility at Fao [Faw] city will have a capacity of 300 thousand barrels/ day, and will be capable of being extended to produce the petrochemicals. (Source: Ministry of Oil)
Tag Archives | Al Fao
By Sara al-Qaher for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. Controversial canal again sparks dispute in Iraq Iraq is fighting a tide of dissent as its lawmakers accuse the government of handing over the Khor Abdullah border canal to Kuwait […]
By John Lee. Surprising skeptics, the International Energy Agency has announced that Iraq’s oil exports have hit 3.6 million bpd, a record 30 year high, The Wall Street Journal reports. Previously exports were falling due to export bottlenecks, bad weather and extensive work on infrastructure, while some northern areas such as Kirkuk were adversely affected by insecurity. […]
By Omar al-Shaher for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraq has decided to exempt foreign companies involved in the Faw Port project from customs duties and taxes. This decision was an attempt to accelerate the completion of the stalled project, through […]
By John Lee. The Director General of Missan Oil Company has cut the ribbon on the 272-km crude oil pipeline from Buzurgan to Halfaya and onward to the tanks reservoir at al-Fao [al-Faw]. It starts from meeting point of the two lines from Buzurgan and Halfaya. The 42-inch-diameter pipeline was built in cooperation with the […]
By John Lee. Iraq’s South Oil Company has announced the completion of new pipeline network connecting its sites in North West Basra and the floating piers in the Fao [Faw] area, south of the province. Director General Dhia al-Mussawi told Aswat al-Iraq that the new pipelines will pump oil from storage in Tuba to the […]
By John Lee. Oil and gas engineering group Penspen has signed an agreement with Siemens to provide engineering and procurement services for a new simple cycle power plant in Southern Iraq. Siemens has agreed a base scope with the State Company for Oil Projects (SCOP) to work on the engineering and supply of the power […]
Basra Provincial Council announced on Tuesday the formation of a group that includes 100 local businesses to invest in Faw Port “to preserve the sovereignty of Iraq”. Council member Walid Qitan said: “The efforts of businessmen in the province resulted in the cooperation of major public companies to invest in Faw Port in order to […]
Teh Arab Times reports that Kuwait is ready to sign an agreement with Iraq to guarantee that the Mubarak Al-Kabeer port project will not hinder the construction of Iraq’s Grand Faw port. According to the Director of Information at the Iraqi Ministry of Foreign Affairs, Aous Al-Tamimi, the Iraqi Minister of State for Foreign Affairs […]
According to a report from Iraq’s National Media Centre, the new port at Faw [Fao], when completed, will reduce transport costs between Europe and Asia. Salah al-Khadir said the project will shorten the distance between Iraq and the other countries of the world, and especially the vessels coming from Asia to Eastern Europe, indicating that […]
The construction cost of this port is of 4.3 million euros and the first stage thereof will be implemented by an Italian company. The first stage is expected to end in 3 years maximum and the development thereof is expected to last till 2028.
An Italian group will begin construction in a month’s time on what will become Iraq’s largest shipping port, the Iraqi transport minister announced Monday.