By Ali Abdel Sadah for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. On Aug. 26, 2013, the Federal Supreme Court of Iraq announced that it had overturned a previous law, passed by parliament, that limits the president, prime minister and parliament speaker to two terms […]
The Department of State warns U.S. citizens against all but essential travel to Iraq. Travel within Iraq remains dangerous given the security situation. This Travel Warning replaces the Travel Warning dated February 25, 2013, to update information on security incidents and to remind U.S. citizens of ongoing security concerns in Iraq, including kidnapping and terrorist […]
The international nature of business in Iraq can be seen clearly in the short-list of companies selected to bid for the new $18-billion pipeline to the Jordanian port of Aqaba: The 17 companies represent 11 different nationalities. Over the past week alone, we've also seen a Japanese and Malaysian consortium start commercial production of oil […]
By John Lee. Iraq has awarded oil drilling deals with a combined value of $348 million. Associated Press reports that Weatherford picked up two drilling contracts, one for nearly $95 million and another for $82.4 million. Another contract worth $96.7 million went to China's Bohai, while COSL, a division of the China National Offshore Oil […]
By John Lee. The Wall Street Journal and Reuters report that Iraq has shortlisted 12 international companies to build the new $18-billion oil export pipeline to Jordan, the country's first such pipeline in decades. Iraq's oil ministry has chosen these companies from a list of more than 80 international firms which submitted their credentials to build […]
By John Lee. The Gharraf [Garraf] oil field in Thi Qar [Dhi Qar] province, 85km north of the City of Nasiriyah, produced its first commercial output of oil on 31st August. Iraq's Ministry of Oil said the flow rate was 35,000 barrels a day, and peak production of 230,000 bpd was expected in 2017. Japan […]
By John Lee. The German company Gebr Pfeiffer has received another order from China-based Sinoma (Suzhou) Construction Co Ltd for a cement raw material grinding mill in Sulaymaniya. According to a report from Global Cement, the "MPS 5000 B" vertical roller mill has a capacity of 500tph at a product fineness of 10 per cent […]
British Peer Calls for UK Investment in Iraq before Multi-Billion Pound Market is Lost to Far East Baroness Nicholson of Winterbourne, Executive Chairman of the Iraq Britain Business Council (IBBC), has called on UK businesses to invest in Iraq or face losing out to more aggressive competitors from the Far East. Despite an upsurge in […]
By John Lee. Genel Energy has announced that a Declaration of Commerciality ("DoC") for the Miran field has been approved by the Ministry of Natural Resources of the Kurdistan Regional Government ("KRG"). Genel currently holds a 100% working interest and is operator of the Miran licence. The KRG has the right to back in for […]
By John Lee. Gulf Keystone Petroleum (GKP) has announced the appointment of Andrew Henry Simon O.B.E. (pictured) to its Board as a Non-Executive Director with immediate effect. In addition, as approved by shareholders at the Company's Annual General Meeting, held on 25 July 2013, and following the completion of the AIM mandated due diligence process, […]
By John Lee. Iraqi Prime Minister Nouri Al-Maliki and Eni’s CEO Paolo Scaroni (pictured) met on Monday in Baghdad to discuss Eni’s activities in the country. During the meeting, Mr Scaroni along with Claudio Descalzi, COO of Eni E&P, updated the Prime Minister on the development activities at the Zubair oil field and discussed the […]
Amid a continuing exodus of Syrians into Iraq's Kurdistan region, the heads of the UN refugee agency and the World Food Programme praised the regional government for giving refuge to almost 200,000 people, including some 47,000 who arrived in the last two weeks. Despite the burden of accommodating such a large influx of refugees, the […]
