By John Lee. According to a report from Reuters, exports from Iraq's southern terminals have averaged 1.67 million bpd in the first 16 days of October, down from September's rate of 1.82 million bpd and the 2.31 million bpd achieved in August. But due to the reopening of all four of the crude loading berths […]
By John Lee. Iraqi Cabinet has authorised the Transport Ministry to sign the breakwater project for Great Fao [Faw] Port in Basra with the South Korean company Daewoo Engineering and Construction. According to a report from Aswat al-Iraq, this phase of the project will cost 521.56 million Euros. (Source: Aswat Al Iraq)
By John Lee. RAK Airways will start flying to Najaf early next month, the carrier told Khaleej Times. The airline, which is celebrating its third anniversary, said that Najaf will be its first entry into Iraq. The route will be served by an Airbus A320. (Source: Khaleej Times)
By John Lee. Prime Minister Nouri al-Maliki is to meet US President Barack Obama at the White House on 1st November. The White House said the talks would focus on a US-Iraq Strategic Framework Agreement (SFA) that governs relations between the country following the final US troop withdrawal in 2011. A White House statement said […]
By John Lee. Iraq has reopened all four of the crude loading berths at the al-Basra Oil Terminal (ABOT), according to a report from Platts. Two of the terminal's four jetties were shut in September to allow the installation of a jacket for a new platform in the Gulf to feed four Single Point Moorings. […]
By John Lee. BGR Energy Systems has signed a contract with the Ministry of Electricity for engineering, procurement and construction (EPC) of four 125-MW gas-fueled power project at Nasiriya. The Economic Times reports that the contract is valued at $246 million and includes the scope of engineering, procurement and construction services of BOP, civil works […]
By John Lee. Amarinth, a leading company specialising in the design, application and manufacture of centrifugal pumps and associated equipment to the Oil & Gas, petrochemical, chemical and industrial markets, has secured a new order in Iraq to supply a further eight API 610 OH2 A-Series pumps to the Zubair Initial Production Facility. Last year, […]
By John Lee. China Petrochemical Corporation, also known as Sinopec, is still unable to participate in projects in central and southern Iraq four years after it acquired a project in northern Kurdistan, reports the Wall Street Journal. The company held talks with Russia's Lukoil about jointly developing the West Qurna-2 oil field, but Lukoil's chief […]
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 10th October 2013). Note: ISX will be closed starting from October 14, 2013 (Monday) due to Eid al-Adha Holiday. The next trading session will be held on October 20, 2013 (Sunday). Please click here to download a table of listed companies and their […]
A cooperation agreement has been signed with the Acıbadem Healthcare Group towards the management and operations of the Medical City complex, established by the Faruk Group to provide modern healthcare services. As per the agreement made by Faruk Mustafa Rasool, Chairman of the Board of Faruk Group, and Mr Mehmet Ali Aydınlar, Chairman of the […]
From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. The leader of Iraqi Kurdistan says there is "real fear" that sectarian violence in Iraq could escalate into civil war. The autonomous region's president Massud Barzani was talking to AFP in an exclusive interview:
By John Lee. DNO International has announced today that it has initiated sales from its second horizontal well in the Tawke field in the Kurdistan region of Iraq following testing at a new record rate of 32,500 barrels of oil per day. Each of ten independent fracture corridors penetrated by a 930-meter horizontal section in […]
