Tag Archives | Al Faw

Iraq to Build 5 New Refineries

By John Lee. The Iraqi Ministry of Oil has reportedly announced that it will select a number of international investment companies to build five new refineries around the country: Kirkuk with a capacity of 70,000 barrels per day (bpd); Wasit capacity of 140,000 bpd; Nasiriyah capacity of 140,000 bpd; Basra card 140,000 bpd; and al-Faw […]

Petrofac Exec admits Bribes Paid to Win Iraq Contracts

In connection with the UK Serious Fraud Office (SFO)’s ongoing investigation into Petrofac Limited and its subsidiaries (“Petrofac”), on 6 February 2019 David Lufkin, 51, a British national, and previously Global Head of Sales for Petrofac International Limited, pleaded guilty at Westminster Magistrates’ Court to eleven counts of bribery, contrary to sections 1(1) and 1(2) […]

China’s CNOOC to Survey 2 Exploration Blocks

By John Lee. Iraq’s Ministry of Oil has signed a contract with the China National Offshore Oil Corporation (CNOOC) to carry out seismic surveys of two oil exploration blocks. One of the fields is in the territorial waters of Iraq in the Gulf, while the second in the city of Faw (Fao). (Source: Ministry of […]

Chinese Companies to build Fao Refinery

By John Lee. Iraq has reportedly signed a contract with two Chinese companies to build the Fao [Faw] oil refinery. An Iraqi oil official told Reuters the 300,000-bpd facility will include a petrochemical plant. It is to be built by the Power Construction Corporation of China (PowerChina) and Norinco. (Source: Reuters)

Video: Faw Peninsula faces Environmental Catastrophe

From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Environmentalists say Iraq’s once fertile Faw Peninsula is facing catastrophe. The region has seen a major collapse in its fishing and farming industries due to drought and decades of wars. Al Jazeera‘s Imran […]

$6bn Iraqi Port Development available for Investment

By John Lee. Iraq’s National Investment Commission (NIC) has included the “Grand Port of Al Faw” in its list of major strategic projects to be presented during the Kuwait International Conference for Iraq Reconstruction, to be held in Kuwait from 12th to 14th February: Project cost: $6 billion Location: Basra Design capacity: Phase one 2018: […]

Chinese Companies Win Al-Faw Projects

By John Lee. Iraq’s Ministry of Oil has awarded the Al Faw [Al Fao] refinery and petrochemicals project to two Chinese companies. In a statement, the ministy named the companies as Power China and “Nerco Chinese Companies“. Mr. Assim Jihad, the spokesman of the Ministry,  said the refinery will have a capacity is 300,000 barrels/day. […]

More Details on New Basra Refinery Project

By John Lee. The Ministry of Oil has given more information on the new investment opportunity to build a new 300,000-bpd refinery in Basra’s Faw (Fao). The refinery is capable of being extended by adding new units for the petrochemicals industries. The execution is according to the methods of BOT or BOO according to the […]

NIC Calls for Grand Faw Port Investment

Ministry of Transport has announce the investment opportunity of constructing the Major Port of Faw (Al Faw Grand Port) according to investment law No. 13 for the year 2006, amended and its regulations. DESCRIPTION Project location: Faw Peninsula, Abdullah Khor beach, South of Iraq Project total area: 40 thousand donum Port area: 54 KM² Designed […]

CNPC: New Maysan Pipeline Complete

By John Lee. China’s CNPC has announced the completion of a 272 kilometre crude oil pipeline which connects Halfaya and Burzugan [Bazargan] oilfields in southern Iraq to the Al-Faw port. Incredibly, CNPC have remarked that the pipeline is passing through 30km of areas that were once minefields during the Iran-Iraq war. Today, southern Iraq is […]