Reuters reports that Iraq and its partners, Russia's LUKoil and Norway's Statoil, have shortlisted five companies to compete for the West Qurna Phase Two oilfield development contract. An Iraqi oil official who asked not to be identified said on Tuesday that the oil service companies selected are Saipem , SNC Lavalin Group Inc , Punj […]
Gazprom Neft has chosen Schlumberger to drill the first wells in the Badra oil deposit development project in Iraq, reports Oil Voice. The contract will last three years, and will involve three drilling rigs, with the drilling of the first appraisal and development wells expected to be completed in early 2012. A total of 11 […]
Lanco Infratech Ltd. (LANCI) of India signed an $81.3 million contract to build a gas-fired, 250-MW power station in western Iraq. Masaab Serri, an Electricity Ministry spokesman, told Bloomberg that the company is scheduled to build the plant within 16 months in Al-Qaim, in Anbar province in western Iraq, using natural gas from the nearby […]
Aswat al-Iraq reports that a Ministry of Oil geological team has arrived in the Ain Tamr area of Karbala [Kerbala] to explore for oil. Ain Tamr's local government official Mahfoudh Satai told the news agency that "there were many oil wells discovered 1970s that have not been fully excavated." Karbala's local government asked the Ministry […]
Output at the West Qurna oil field in Basra has increased by 26% since March, reaching 347,000 barrels per day (bpd), according to AKnews. Madi Abdul-Razzaq, director of the operations committee said: "We have a number of new projects to increase production to 400,000 bpd by the end of 2011. The increased production in West […]
ShaMaran Petroleum, the Kurdistan focused oil development and exploration vehicle, has announced that the company has been approved for trading of its common shares on the First North list of NASDAQ OMX Stockholm (“First North”). The company’s common shares commenced trading on First North at the market opening on June 22, 2011, under the symbol […]
Just days after Iraq approved a loan from Japan for infrastructural development, Iraq said on Wednesday it would donate $9.48 million in disaster relief to Japan as Tokyo struggles with the devastation of a March 11 tsunami. "The government has agreed to donate $10 million in aid following the events in Japan, and is also […]
By Layth Mahdi, Agricultural Advisor. The opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraq is predominantly an agricultural country. It has a great diversity of climate, soil types, and natural resources. In the 1950’s, Iraq was self-sufficient in agriculture and the number one exporter […]
The state-owned Iraqi Airways is offering one of its old Boeing jetliners for sale as scrap as it continues to sell off the remnants of a decades-old fleet that was moved to neighbouring countries after Iraq's 1990 invasion of Kuwait. The 737-200, parked for years at Queen Alia International Airport in Amman, Jordan, had been […]
Iraq’s Chamber of Trade has signed a Memo of Understanding (MOU) with Ukraine’s Chamber of Trade & Industry in Kiev, reports Aswat al-Iraq. “Iraq’s Ambassador in the Ukraine, Shorish Khalid Saeed, has attended the signing of an MOU between the Iraqi Chamber of Commerce and Ukraine’s Chamber of Trade & Industry in Kiev,” the statement, […]
Basra's Investment Commission (BIC) announced on Sunday that the Kuwaiti Bukhamseen Group [Bukhamsin] visited its premises to show engineering designs for a number of projects, and to learn about possible future investment projects in the province. Director of the Commission, Haidar Ali Fadhil, told Aswat al-Iraq that the delegation proposed a palm tree plantation, concrete […]
Iraq’s Integrity Commission announced on Sunday that 479 people convicted of fraud were required to return 1.7 billion Iraqi dinars [$1.4 million] to the State Treasury. “The number of persons, convicted by special courts at the investigation offices in Baghdad and other Iraqi provinces, have reached 479 persons, most of them in Baghdad and Thi-Qar […]
