Tag Archives | Leighton

Leighton Shares Dive on Iraq Corruption Allegations

By John Lee. Shares in the Australia’s Leighton Holdings, Australia’s biggest builder, fell more than 10 percent on Thursday following reports that former executives knew of alleged corruption at the company in Iraq. Leighton allegedly paid bribes to win contracts, and former chief executive officers Wal King and David Stewart were aware of the conduct, […]

Leighton Looks to Move on from Iraq Scandal

By John Lee. Habtoor Leighton Group (HLG) chairman, Riad Al Sadik (pictured), has said Leighton’s name “became very, very bad in Iraq” in 2012 following the bribery scandal. “HLG was definitely affected,” he told The Australian. “It took us quite some time to clean this up.” The company sacked a senior manager last year as […]

Leighton Wins $200m Iraq Contract

By John Lee. Habtoor Leighton Group (HLG) has been awarded a sub-contract for the construction of infrastructure in Southern Iraq and is part of an engineering, procurement and construction project to deliver a central production facility. The Australian reports that the contract is valued at more than $200 million. HLG CEO and Managing Director Laurie […]

16 Firms Bid to Build $412m Grand Faw Breakwater

By John Lee. Sixteen companies have bid to build a 480 billion-dinar ($412 million) breakwater for Iraq’s Grand Fao [Grand Faw] port. Omran Radhi, director general of the State Company for Iraq’s Ports, told Bloomberg that the list of bidders includes: Hyundai Engineering & Construction; Daewoo Engineering & Construction; Dredging International; China Communications Construction Company; […]

Iraq picks Petrofac for $95m SPM Contract

Reuters reports that Petrofac has won a $95 million contract to carry out maintenance work for Iraq’s new offshore terminals and sub-sea pipelines at the Gulf. The contract involves maintenance work to ensure there are no leakages in the pipelines or any faults at the two new single point mooring (SPM) terminals that may delay […]

Technical Problems Halt Oil Exports from New Iraq Terminal

Technical glitches have halted exports from Iraq’s new offshore oil export terminal for the past week after it loaded just a single tanker, two sources at the state-owned South Oil Company said on Tuesday, according to Reuters. The first of four single-point mooring (SPM) terminals, which are being built by Australia’s Leighton Holdings, opened on […]

Iraq Starts Exporting Oil from New Floating Facility

Reuters, citing two sources at the state-owned South Oil Company, reports that Iraq began loading oil from a long-awaited new floating Single Point Mooring (SPM) platform in the Gulf on Thursday. “We started the loading at 2:45 pm (1145 GMT). The loading process is normal. The situation of pipes and the SPM is stable, and […]

Iraqi Oil Official Flees after Accusation of Corruption

A departmental head at Iraq’s South Oil Company (SOC) has reportedly fled the country after being accused of accepting bribes from a subsidiary of Australia’s Leighton Holdings to help it secure contracts in southern Iraq. Uday Awad, a member of the Iraqi parliament’s oil and energy committee, told The Australian that the head of the […]

Leighton may be Expelled from Iraq

Iraq has threatened to expel Leighton Holdings from the country’s lucrative oil and gas fields, following the company’s announcement on Monday of an investigation into possible corruption. The deputy head of the Iraqi Oil Ministry’s petroleum contracts and licensing directorate, Sabah Al-Saidi, told The Australian Financial Review he was shocked by claims that Leighton Holdings […]