Iraq Business News brings you the latest information on developments and opportunities in the construction & engineering industries in Iraq.
By John Lee. The Central Bank of Iraq (CBI) has reported that 27 banks and 16 remittance companies took part in its currency auction on Tuesday. A total of $97,749,827 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
By John Lee. Prime Minister Dr. Haider Al-Abadi has approved the procedures for issuing loans from the housing fund, allocated from the central bank's budget of five trillion Iraqi dinars ($4.2 billion). The loans will be distributed to the provinces as per the percentage of population (80 percent) and the degree of poverty (20 percent) […]
By John Lee. TradeArabia reports that Iraq remains the Gulf’s third-largest project market, with $358 billion in active infrastructure projects. More than $90 billion of these are in the gas, oil, and power sectors. Ahead of the Meed Iraq Energy Projects conference taking place on March 21 in Dubai, Meed Projects said ongoing infrastructure projects […]
The Kurdistan Regional Government has hosted a special session for the KRG Minister of Interior and Mayor of Shingal to brief diplomats and representatives of UN agencies and INGOs based in Erbil on the needs of the city. At the outset of the meeting, Minister Falah Mustafa, Head of KRG Foreign Relations called for a […]
By John Lee. In its results for 2015, published this morning, UK-based oil and gas engineer Amec Foster Wheeler re-affirmed the importance of the Iraqi market. While it had no new contract wins to announce in Iraq over the past year, the company stated: "Iraq remains an important market for us, as we support various […]
By John Lee. Petra reports that the Jordanian Minister of Energy and Mineral Resources, Ibrahim Saif, will meet his Egyptian and Iraqi counterparts in Cairo on Tuesday to discuss developments regarding the Basra-Aqaba pipeline project. The project, agreed by the three countries in Amman in November 2015, will see oil and gas pipeline running from […]
From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. Amid growing talk that Iraq's largest dam risks bursting, residents of the town of Wana, which would be wiped out within minutes of a breach, are both sceptical and anxious:
United Nations Human Settlements Programme (UN-Habitat) has received USD 15 million from the Government of Japan to implement two projects in Iraq: “Gender-sensitive Durable Shelter Support for Internally Displaced Persons in Iraq” and “Promoting Urban Recovery in Newly Liberated Areas in Iraq.” The conflict with the Islamic State of Iraq and the Levant (ISIL) has […]
Atlas Copco has appointed a new distributor, Merkez Al-Madina for Machinery and Equipment Trading Company. The company is part of the HMBS Group, which has been operating in Iraq for over 100 years and will now represent Atlas Copco’s Compressor Technique and Construction Technique business areas in Iraq. Equipment and aftermarket services covered by this […]
The Kurdistan Regional Government (KRG) today publishes the monthly crude oil export report for February 2016. The report details: All oil export volumes through the KRG-Ceyhan crude oil pipeline; all crude oil cargoes lifted from Ceyhan by the buyers; and the revenues received on account by the KRG during the month. The KRG exported 10,151,944 […]
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 […]
