According to a report from NINA, Iraq's Minister of Oil, Abdul Kareem Luaibi [Elaibi], has announced that since Tuesday 4th December crude oil has been pumped through the "Strategic Pipeline", which runs North-South through Iraq. Iraq Business News has been unable to verify the report, which also did not specify the direction in which the […]
The Anbar provincial council has announced a new project to cultivate desert of the western region. Hasssan al-Mulla, chairman of the council's investment committee, told Aswat al-Iraq news agency: "The provincial council signed a memorandum of understanding with a UAE company, which includes a group of foreign companies, including a British one, to cultivate the […]
The State Compamy for Oil Projects (SCOP), part of the Ministry of Oil, has reportedly completed construction of 18 storage tanks at the Najaf refinery, with a total capacity of 51 million liters. The Media director of Najaf refinery, Ahmed Razg, told AIN: "The cost of the project was IQD 21 billion [$18 million], bringing […]
Prime Minister Nouri Al-Maliki received a Kuwaiti media delegation at his office on Wednesday. During the meeting, the Prime Minister emphasized that resolving the problems between Iraqi Airways with Kuwait is a positive gesture which could lead to greater cooperation and improved relations between the countries. The Prime Minister said Iraq continues to work to […]
Having racked up more than three million pageviews over the past year, and with more than 12,000 subscribers to our weekly free newsletter, we have decided to bolster our marketing and business development team at Iraq Business News. To that end, we are delighted to be joined by: David Jeffries, CEO of Only Media Ltd, […]
By John Lee. KBR has announced that it has been awarded the Mansuriya Full Field Development contract to perform front end engineering and design (FEED) studies and Quality Control Support Services (QCSS) for the Turkish Petroleum Overseas Company (TPOC), a wholly owned subsidiary of Turkish Petroleum Corporation (TPAO), in Diyala Province. The Mansuriya project is […]
By John Lee. The U.S. Federal Aviation Administration (FAA) is lifting its 16-year-old ban on commercial flights by U.S. carriers to two airports in Kurdish northern Iraq, citing increased stability in the region. Civilian flights were halted in 1996 for safety reasons, the FAA said in a notice to be published in the Federal Register […]
By John Lee. A joint venture between the Indian companies Shriram EPC Limited (SEPC) and the Mokul Group has bagged an order worth $230 million for the supply and laying of basic sanitary systems in Basra. Shriram EPC, which is part of Shriram Group, is an integrated design, engineering, procurement, construction and project management services […]
By John Lee. Syscom 18, the Romanian company specialising in industrial automation and measuring systems, has won a contract worth three million euros in Iraq. The project involves the "design, construction, installation, electrical and automation side and starting operations of 40 fiscal metering systems", to be integrated into two power plants; project completion is scheduled […]
By John Lee. Oil ministry spokesman Assem Jihad said on Tuesday that the country's oil exports averaged 2.62 million bpd in November, the same rate as in October. 78.6 million barrels were exported for the full 30-day month at an average price of $104.35 per barrel, giving total revenues of about $8.2 billion. This was […]
By John Lee. The Iraqi Housing Fund has approved about 39,000 housing loans since it started operations in March 2005, and the rate of activity is accelerating. The fund's general director, Burhanuddin al-Bassam, told Mawtani: "In previous years we processed dozens of citizens' applications for loans every day, but now the numbers range between 700 […]
By John Lee. Iraq is to give a $5 million aid to support the development process in Yemen, Iraq's ambassador to Yemen said on Tuesday that Iraq is to give a $5 million to support the development process in Yemen. Speaking to the Yemeni news agency Saba, Asad al-Samarai said many agreements were signed between […]
