By John Lee. Petrojet has been awarded a $185-million (216-billion-Iraqi-dinar) contract to build the first gas-processing plant for Iraq’s Siba field. The Egyptian state-owned company will handle all the gas-processing plant’s related works including engineering, procurement, and construction (EPC). The project aims to increase the field’s production to 110 million cubic feet per day within […]
By John Lee. Agility’s GCC Services subsidiary in Basra has received the ISO 9001 certification, making it the first integrated remote site services company in the city to receive the certification. The United Kingdom Accreditation Service (UKAS) accreditation certificate was given following a site audit conducted by Bureau Veritas. TradeArabia reports that the Iraq unit […]
By Mohammed A. Salih for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Activists and government agencies in Iraqi Kurdistan have drafted amendments over the past few months to the autonomous region’s existing law combating domestic violence, introducing measures aimed at better protection of women's and children's […]
By John Lee. Zain Iraq has applied for a listing on the Baghdad stock exchange (ISX). As part of their 15-year licences awarded in 2007, Iraq’s three mobile network operators -- Zain, Asiacell and Korek -- were required to float at least a quarter of their shares and join the Iraq Stock Exchange (ISX) by […]
By John Lee. Genel Energy's chief executive has said he may step down as CEO as early as the end of this year to become Chairman. Reuters reports that Tony Hayward (pictured) also told the FT Commodities Summit in Lausanne, Switzerland, on Wednesday that low oil prices will trigger consolidation in the oil industry in […]
By John Lee. In its results for the first quarter of 2015, oil services company Weatherford said it expected "a positive cash outcome on the Zubair project in Iraq as milestones are achieved and continued control of capital expenditures," The company added that "reduction in working capital balances and managing a cash neutral end to […]
Prime Minister Dr. Haider al-Abadi received on Tuesday, the Special Representative of the UN Secretary-General for Iraq: Mr. Ján Kubiš. They discussed updates on the political and security situations in Iraq along with UNAMI programs in various sectors as well as issues concerning the IDPs and reconstruction of the liberated areas. Dr. al-Abadi commended UNAMI's […]
By John Lee. The President of BP Iraq, Michael Townshend, has said that the company has extended an agreement with the Ministry of Oil to boost production at the Kirkuk oilfield. Reuters quotes him as saying "We had a letter of intent, which was for a year, and we extended that until the end of this […]
The International Finance Corporation (IFC), a member of the World Bank Group, is investing up to $18 million in Saudi dairy company Al Safi Danone’s Iraq-based subsidiary, to expand its operations in order to improve domestic food security, boost Iraq’s non-oil sector, and reduce its reliance on imported dairy products. IFC’s long-term investment, which is […]
By Samar Rassam, CEO of Somer Industrial Projects (SIP). This is an extract from an article originally published by Nina Iraq, and is reproduced here with permission. As always, when returning to my column in Nina Magazine, I reflect on the past few months. It has been a very busy time. I am excited to […]
By Wassim Bassem for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Youths in Iraq dream of leaving the country. The successive wars since 1980 and in particular the violence that has been part of daily life in Iraq since 2003 have caused waves of emigration over […]
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. In its fight against the Islamic State in Iraq and the Levant (ISIL, ISIS, IS), Iraq is now desperate for advanced weapons and help from the United States. A delegation led by Iraq's […]
