By John Lee. John Crane, part of Smiths Group, has announced it will supply Italian pump designer Termomeccanica Pompe (TMP) products from across the company’s portfolio for the development of the Zubair Oil Field, one of largest in Iraq. The agreement covers mechanical seals and systems, high-performance couplings and hydrodynamic bearings used in the 24 centrifugal […]
By John Lee. Iraqi Oil Minister Abdul Kareem Luaibi [Elaibi] (pictured) said on Saturday that he is optimistic Baghdad will soon come to an understanding with Turkey over a contested oil-export agreement with the Kurdistan Regional Government (KRG). According to a report from the Wall Street Journal, he said Turkey understands that it can't enter […]
By John Lee. Reuters reports that Iraq's oil exports have fallen so far in December, "capping what has been a disappointing year and highlighting challenges it faces in 2014 in achieving significant production growth". Exports from Iraq's southern terminals averaged 2.01 million barrels per day (bpd) so far in December, according to shipping data tracked […]
By John Lee. The Australian Securities and Investments Commission (ASIC) has today discontinued its proceedings in the Supreme Court of Victoria against Charles Stott and Michael Long for alleged breaches of their duties as officers of AWB Limited -- formerly the Australian Wheat Board -- in connection with the United Nations Oil for Food Programme in […]
KRG Representative to Poland outlines Kurdistan’s oil resources at 8th Energy Forum Ziyad Raoof, the Kurdistan Regional Government Representative to Poland, highlighted Kurdistan’s oil and gas potential at the 8th Energy Forum, a landmark annual international conference. The Energy Forum is the biggest conference in Poland and one of the biggest in Europe devoted to […]
The Iraqi government has reportedly approved a $256-million submission from Dutch shipbuilder Kuipers to supply it with eight cargo ships. The eight vessels, comprising three 55,000 dwt bulkers, three 1,200 teu container carriers, and two 18,000 dwt multi-purpose vessels, are due for delivery two years from the date of signature of a final contract. According […]
South Korea's Hanwha Chemical Corporation has announced that it has signed a letter of intent (LOI) to build a petrochemical plant in Iraq. South Korean news agency Yonhap reports that the LOI was signed in Seoul by the president of Hanwha Chemical, Bang Han-hong (pictured), and Iraq’s Deputy Minister of Industry, Mohammad Zain. Hanwha will build […]
The recent surge in sectarian violence has sent Iraq's bond yields higher, prompting officials to postpone a planned debt sale. Deputy Finance Minister Fadhel Nabi told Bloomberg: “We will definitely issue new bonds, but it will take more time now with all the problems in the country.” The news agency also reports that the yield […]
A contract has been signed between the Lebanese company ViecoEast and Iraq's Al Fajr for waste water treatment plants. Delivery starts in January 2014. Vidoe of the signing can be viewed below: (Source: ViecoEast)
From The World Bank. A new project will reduce traffic fatalities by nearly 25 percent on two transport corridors connecting Iraq to its northern, southern and western neighbors and beyond. The US$355 million Iraq Transport Corridors Project, approved by the World Bank Board of Directors on Thursday, will improve road quality and safety and promote […]
The US Army has issued an $18.5-million contract to Texas-based Bell Helicopter Textron to supply an additional six months of contractor logistics support for the Bell 407 (pictured), UH-1 Huey, 206 JetRanger and OH-58 (A and C models) in Al Taji, Iraq. Work will take place in Iraq and at Piney Flats, Tenn., with a […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 19th December 2013). Note: ISX will be closed during December 27, 2013 - January 6, 2014 due to the end-of-year closing operations. The last session of this year will be on Thursday, December 26, 2013 and trading will resume on Tuesday, January 7, […]
