Iraq Business News brings you the latest information on developments and opportunities in the construction & engineering industries in Iraq.
Khudairi Group, a leading provider of services to the energy, engineering and construction industries in Iraq, has been appointed by Shell as its macro-distributor for lubricants in the country. The new partnership was formalised at a signing ceremony attended by representatives from Khudairi Group and Shell in Dubai, UAE. Commenting on the partnership, Mr. Aziz […]
Genel Energy has announces its audited results for the year ended 31 December 2015, in which it declared its biggest-ever annual loss of $1.16 billion: Key figures 2015 revenue of $344 million, down 34% due to the fall in the oil price more than offsetting higher production volumes 2015 production of 84,900 bopd, an increase […]
Switzerland's ABB has won an order worth around $100 million from Mass Global Holding to deliver a gas-insulated switchgear (GIS) substation that will help integrate 3,000 megawatts (MW) of electricity generated by a combined cycle power plant, utilizing Iraq’s natural gas resources. The government is rebuilding the country, investing in national housing programs and has […]
PECB has announced that it has signed a new partnership agreement with Erbil-based Citadel Engineering Company, to distribute PECB training courses in Iraq. This partnership will ensure that the respective companies will give their contribution based on their expertise in offering and organizing PECB courses. Eric Lachapelle, CEO of PECB, said: “PECB has built a […]
The Iraqi authorities have signed a contract with Italy's Trevi construction company to consolidate the Mosul dam, reported the Italian Foreign Ministry. The contract was signed following intense negotiations between the company and the Iraqi authorities in Baghdad. Under the contract, the Trevi Group will carry out consolidation work on the dam, as agreed during […]
Associated Press reports that two former officers of an American defense contracting firm have pleaded guilty to criminal charges related to rebuilding projects in Iraq. Federal prosecutors say that Neal Kasper (66) and his wife, Tiffany White (49), were involved in a scheme to solicit and accept kickbacks in return for favourable treatment in awarding […]
The Embassy of the United States of America has released a fact sheet on the Mosul Dam, offering a detailed overview of the risk of a potential failure and, as a contingency, recommendations for how residents in Iraq should respond in the event of an emergency. Mosul Dam faces a serious and unprecedented risk of […]
The Iraqi Communications and Media Commission (CMC), in its capacity as the sole entity responsible for regulating telecommunications, broadcasting and information Services in Iraq, is initiating the process of launching the Mobile Number Portability service (MNP). In line with their respective obligations, Asiacell, Korek and Zain, the three Iraqi mobile telecommunications operators, are initiating the […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 30 banks and 20 remittance companies took part in its currency auction on Monday. A total of $110,701,200 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Malta-based Medserv has announced that it has today completed the acquisition of Middle East Tubular Services (METS), a group of companies based in the UAE, Oman and Iraq. Established in 2006 in Sharjah, UAE, METS has grown rapidly becoming a market leader due to its position as the only one-stop-shop for oil country tubular goods […]
Ericsson and Asiacell have partnered in a network deal to transform Asiacell's transmission backbone infrastructure in Iraq, reports Telecompaper. This project enables Asiacell to secure the required technology and capacity to cater for the increased demand for data traffic and improve customer experiences in Iraq in the coming five years. Ericsson collaborated with Asiacell in […]
ALE has completed the year-long operations for the Badra heavy transportation contract in Iraq. The global heavy lifting specialists were contracted as part of the Badra Oil Field Development Project to receive and transport 44 heavy and Out of Gauge (OOG) items 600km to site. With weights up to 230t and dimensions up to 48m […]
