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The latest business news from Erbil, Kurdistan, Iraq – banking, airlines, hotels, property and more – brought to you by Iraq Business News

GE’s to Provide Turbines to Iraq

GE (NYSE: GE) has signed a contract with ENKA to supply power generation equipment for a new 750-megawatt (MW) combined-cycle plant being developed by Qaiwan Group in Iraq.

GE will provide four 9E gas turbines and one steam turbine for a new power plant in Sulaimaniyah to support the government’s goal of strengthening the electricity infrastructure in the Kurdistan region.

GE has played a key role in supporting the region’s focus on providing uninterrupted power for its people and driving industrial growth. Through its regional partnerships, GE’s turbines support more than 90 percent of the electricity generated in the Kurdistan region, supplying nearly 20 hours of electricity a day.

The new power plant in Bazyan marks the fourth power project that GE is supporting with its heavy-duty gas turbine technologies in the region.

The Erbil, Sulaiymaniyah and Dohuk plants, powered by 24 GE 9E gas turbines, produce more than 3,000 MW, the equivalent to the required annual energy needs of approximately 3 million households in Iraq. The Bazyan plant will help deliver power to an additional 750,000 households.

Saad Hassan, CEO of Qaiwan Company, said:

“The Bazyan power plant is expected to address the growing demand for power in the Kurdistan region. Our objective is to enhance its operations through a combined-cycle plant with reliable and advanced technologies that contribute to greater efficiency in the long run. GE’s gas and steam turbines are an ideal fit to our requirements.”

Fehmi Bayramoglu, member of the executive committee, ENKA said:

“The Bazyan project is one of our key contracts in the region, which we are committed to developing as per an aggressive project schedule. Having worked with GE on three earlier projects in the region, we are confident of the additional value that the company’s technologies bring to the project.”

Mohammed Mohaisen, CEO, GE Power Generation Products and Services Sales, Middle East and North Africa said:

“With over 40 years of presence in Iraq, GE is committed to supporting its developmental goals to build a strong electricity infrastructure. Our contract for the Bazyan power plant is the fourth with ENKA in this region, highlighting the trust of our partners in delivering advanced technologies that strengthen the efficiency of power projects. GE’s gas and steam turbines will assist in enhancing plant operations that support the rapidly growing industrial area of Bazyan.”

(Source: GE)

Posted in Construction & Engineering, Public WorksComments (0)

Video: Security Beefed up at French School

From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News.

French expats in Erbil, Iraq, say they try to lead a normal life, despite threats against French citizens by the Islamic State.

At the French school here, the walls have been enhanced and armed guards are stationed at the gates.

Posted in Education & Training, SecurityComments (0)

KRG Oil Exports Hit 8 Million Barrels

By John Lee.

Turkish officials close to their country’s energy policy have announced that a total of 8 million barrels of oil have been exported via the Turkish port of Ceyhan.

According to officials, while some buyers have been deterred by legal threats from Baghdad, the number of buyers is in fact increasing. The Kurds have taken to using smaller tankers than the 1 million capacity vessels normally used, such as the SuezMax and the United Emblem.

One official conceded it was harder to sell the larger shipments, as the 11th tanker departed Ceyhan with a 250,000 barrel cargo. An observer noted that there appears to be at least one regular buyer of the oil.

(Source: Al Arabiya)



Posted in Oil & GasComments Off

KRG Announce Security Sector Reform

By Patrick Schmidt.

Kurdistan Regional President Massoud Barzani has announced coming reforms for the Kurdish security forces, most famous for the Peshmerga.

The reforms would bring all units under a single unified command. In the past, the Minister of the Peshmerga did not have control over all troops, and the force was in some cases divided in part due to political divisions between the KRG’s two main parties, the KDP and PUK.

The report issued to the Kurdish President also noted other issues that would be resolved during the reformation over the next six months.

(Source: Rudaw English)


Posted in SecurityComments Off

Kurdish Oil Export Figures on the Rise

By Patrick Schmidt. 

The Kurdish Minister of Natural Resources, Ashti Hawrami (pictured) announced that the Kurdistan Regional Government (KRG) has sold 7 million barrels of oil on the international market. He remains confident that the KRG will win the ability to sell oil in the US markets.

Currently, the KRG produces 300,000 barrels of oil per day and it is expected that the figure will reach 500,000 barrels of oil per day by the end of the year.

The KRG has been successful in delivering oil to some international clients. The most recent success for the KRG was the delivery of oil to Croatia for MOL. Two tankers,the United Kalavrta and Minerva Joy, remain off US shores until the dispute between Erbil and Baghdad is resolved.

Increased oil production in Kurdistan has also eliminated previous fuel shortages following the June offensive of thr Islamic State of Iraq and the Levant (ISIL).

(Source: Rudaw English)

Posted in Oil & GasComments Off

Kurdish Oil Finds Buyer

By Patrick Schmidt.

A Kurdish oil tanker has arrived at the Croatian port of Omisalj and is preparing to begin offloading its cargo in the coming days.

This delivery represents a success for the Kurdish Regional Government (KRG) in finding a buyer for their crude following legal threats from Baghdad. These threats have previously deterred some potential buyers.

The Hungarian oil company, MOL Group, is listed as the buyer of the shipment.

For the most part, the buyers of Kurdish oil have remained anonymous. Two oil tankers carrying Kurdish oil still remain off the coast of the United States until the dispute between Erbil and Baghdad is resolved.

(S0urce: Rudaw English) 

(Photo: Shutterstock) 

Posted in Oil & GasComments (2)

US arming Kurdish forces

By Patrick Schmidt.

Following recent gains of Kurdish security forces, in addition to a recent setback in Jalawla in northern Diyala, American officials have hinted that various government agencies have begun supplying Kurdistan with weapons to fight the Islamic State of Iraq and the Levant (ISIL).

To date, America has mostly focused its attention on supporting the central government’s security forces, although ongoing US air strikes have limited ISIL’s attempt to establish a front targeting Erbil.

The move follows calls from the Kurdish President for the Americans to assist the “overstretched” Kurdish security forces.  It is believed that the American government is making progress on establishing an official arms supply program for the Kurds.

(Source: Rudaw English)

Posted in SecurityComments Off

US Orders Airstrikes Against ISIS

Statement by Pentagon Press Secretary Rear Admiral John Kirby on Airstrikes in Iraq

At approximately 6:45 a.m. EDT, the U.S. military conducted a targeted airstrike against Islamic State of Iraq and the Levant (ISIL) terrorists.

Two F/A-18 aircraft dropped 500-pound laser-guided bombs on a mobile artillery piece near Erbil. ISIL was using this artillery to shell Kurdish forces defending Erbil where U.S. personnel are located.

The decision to strike was made by the U.S. Central Command commander under authorization granted him by the commander in chief.

As the president made clear, the United States military will continue to take direct action against ISIL when they threaten our personnel and facilities.

(Source: Pentagon)

Posted in 'Your Country' - United States, SecurityComments (1)

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