According to The Saudi Gazette, the Iraqi government has earmarked an estimated $50 billion for airport development projects in Iraq over the next few years. Iraqi Airways is scheduled to add new 55 Boeing and Bombardier aircraft to its fleet soon. The emerging markets of China, Russia, India, the Middle East, and Africa are forecast […]
ShaMaran Petroleum reports that, subject to regulatory approval, it will carry out a non-brokered, private placement of up to an aggregate of 125 million common shares of the Company at a price of $0.40 per share for gross proceeds of up to Cdn $50 million. Shares issued pursuant to the private placement will be subject […]
Subsea excavation specialists Marin Group recently played a key role in clearing unexploded ordnance from the route of three new pipelines crucial to Iraq's future oil exports, according to an article in Maritime Journal. Operating company Marin Subsea Ltd was contracted by UK based Maritime and Underwater Security Consultants (MUSC), which had been awarded overall […]
Unique System FZE, a Unique Maritime Group company, has recently been awarded a $5.2m contract to supply a 12 MAN ABS Classed saturation system and 3 air diving systems for the Leighton Offshore diving project, based in the Middle East. Unique Maritime Group will provide their 12 MAN ABS Classed saturation system, complete with SPHL […]
Dr David Turner appeared before Westminster Magistrates' Court in London, England, on Tuesday. He is charged with alleged offences of conspiring to make corrupt payments to public officials in Indonesia and Iraq to secure contracts for Innospec Ltd for the supply of its products. He is also charged with conspiring to defraud a competitor company […]
President Barzani today received Mrs Arlene Foster, Northern Ireland’s Minister for Enterprise, Trade and Investment to discuss opportunities for business and trade cooperation between the Kurdistan Region and Northern Ireland. Minister Foster who is heading a business delegation from Northern Ireland said she and her business delegation are very pleased with their visit to Erbil, […]
ShaMaran Petroleum has issued an operational update on the Pulkhana-8 re-entry well. The Pulkhana-8 Re-entry well (“PLK-8RE”) tested an average rate of 2,650 barrels of 31.6 degree API oil per day from the Upper Cretaceous Shiranish formation (high rates of up to 3,530 barrels of oil per day were recorded during the test). The well […]
The Oslo City Court yesterday fully dismissed a claim from Erik J. Frydenbø, a director in Petrolia ASA and a close associate of Berge Gerdt Larsen, demanding an investigation into the relationship between DNO International ASA's management and its largest shareholder RAK Petroleum PCL. The Court ruled in favour of DNO and awarded DNO compensation […]
Iraqi Ministry of Agriculture has completed a plan to make 10 million donums of agricultural land, equal to approximately 25,000 square kilometers, available for private investment. According to the report from AKnews, the land will be available in all Iraqi provinces, and represents about 5.7 percent of Iraq's total area. "The ministry is following high-level […]
The U.S. Embassy in Baghdad has announced that it is now accepting applications for U.S. Government-sponsored exchange programs focused on developing leadership skills. The programs provide Iraqi students and professionals with the opportunity to travel to the United States to exchange ideas and build linkages with their American colleagues. These programs work to support the […]
Dow Jones reports that Lukoil and its partners are about to award a feast of contracts to international engineering and construction companies as it moves full speed ahead with development of its supergiant West-Qurna Phase 2 in southern Iraq. The company is in the final stages of evaluating commercial and technical bids for contracts competing […]
According to a report from Reuters, with better regulation and the expected listing of the country's three main mobile phone firms, foreign investors are increasingly choosing Iraq's stock market as a lucrative investment. Iraq's bourse is still tiny in comparison with other regional or international stock markets, but a drop in violence since the peak […]
