By John Lee. A spokesperson for Iraq's Electricity Ministry, Musaib al-Mudarisi, says the newly constructed power plant in Babel is now fully operational, adding 250 megawatts of power to the national grid. The plant comprises two generating units, each with 125 megawatts, and has already been linked to the national grid. The plant was inaugurated by […]
By John Lee. The Basra Investment Commission has announced that the Industry Ministry signed a contract with the Turkish company UB Holding to rehabilitate iron and steel factories at a cost of $700 million. According to Aswat al-Iraq, the head of the commission said that the contract includes adding new production lines and increases annual […]
By John Lee. Iraq's Undersecretary for Policy Planning, Labeed Abbawi, met Japanese Ambassador Yokota to discuss aid for the reconstruction of Iraq. Ambassador Yokota expressed pleasure over the Japanese participation in the Baghdad International Fair. Undersecretary Abbawi stressed Iraq's determination to help Japanese companies to overcome the difficulties they face, and said Iraq wants to […]
By John Lee. According to a report from Bloomberg, Iraq’s military wants to buy as many as 30 General Dynamics Stryker eight-wheeled combat vehicles. The $25-million deal would be the first international sale of the vehicles, which were developed for the US Army. If accepted by the Iraqi government, the proposal would be submitted to […]
By John Lee. WesternZagros Resources has issued its results for the period ended September 30, 2012: At the Kurdamir-2 well, the operator, Talisman (Block K44) B.V. (“Talisman”), and WesternZagros successfully completed the first of three planned cased-hole tests in the Oligocene Formation of the Kurdamir-2 well. The test targeted 20 metres of fractured reservoir below […]
By John Lee. ShaMaran Petroleum has announce its financial and operating results for the three and nine months ended September 30, 2012. Highlights On November 7, 2012 General Exploration Partners Ltd, operator of the Atrush Block and acting on behalf of the Contractor Group under the Atrush Block Production Sharing Contract, submitted to the Atrush […]
By John Lee. The Iraqi Stock Exchange (ISX) has cancelled today's (November 22) session due to a technical fault in the Electronic Trading System. They are working to fix this problem. In addition, there will be no trading session at the ISX on Sunday (November 25) due to an official holiday. [Best forex brokers in […]
"Education is the most powerful weapon which you can use to change the world." -- Nelson Mandela, former president of South Africa, 1993 Nobel Peace Prize laureate. This week at Iraq Business News, we are delighted to welcome a new Expert Blogger to our ranks: Madeleine White is Head of Marketing for Whizz Education. A […]
By John Lee. Aswat al-Iraq reports that crude oil production at the al-Ahdab oil field has reached 140,000 barrels per day. According to an official statement from Wassit province, the field has 170 operational wells. The field, in central Iraq, is being developed by Chinese firm CNPC. (Source: Aswat al-Iraq)
The U.S. government has filed a civil lawsuit accusing KBR and its Kuwaiti subcontractor of submitting nearly $50 million in inflated claims to install live-in trailers for troops during the Iraq War. It is alleged that KBR and First Kuwaiti Trading Co. overcharged for truck, driver and crane costs, and misrepresented delays in providing around […]
WesternZagros Resources has announced the promotion of Michael Mossman to Senior Vice President Engineering and Operations. Simon Hatfield, WesternZagros's Chief Executive Officer, commented: "Michael's wealth of operational and management experience makes him an ideal person to lead our Kurdistan operations. His promotion strengthens our organization and I am sure he will continue to contribute to […]
By Madeleine White, former teacher and educational writer and Head of Marketing, Whizz Education. Several years ago, I was working as an English Literature Teacher in at a typical state secondary school in the UK. I remember sitting in a classroom of 16 year old boys, who really didn’t want to be there. They wanted […]
