Iraq Business News brings you the latest information on developments and opportunities in the construction & engineering industries in Iraq.
By John Lee. Oil minister Abdul Kareem Luaibi [Elaibi] has confirmed that BP is interested in getting involved in the redevelopment of the giant Kirkuk oil field, which is suffering from falling output. According to a report from the Wall Street Journal, production at the field has declined to 260,000 barrels a day from 900,000 […]
By John Lee. On September 1st, Mitsubishi Heavy Industries Ltd (MHI) will open an office in Basra, the second-largest city in Iraq. MHI aims to respond swiftly to emerging large-scale social infrastructure improvement projects supported by its vast oil reserve and rapidly increasing reconstruction demand from warfare and economic sanction. The new office will function […]
Starwood Hotels & Resorts Worldwide has signed an agreement with Mase Co LLC, a company managed by Brilliant Role Group, to open a new-build Sheraton hotel in Dohuk, in the Kurdistan Autonomous Region in northern Iraq. Scheduled to debut early next year, the Sheraton Dohuk Hotel will be the first of four new Starwood hotels […]
Petrofac has been awarded a second contract by Gazprom Neft Badra B.V. on the Badra Oil Field, situated 160km southeast of Baghdad City in the Republic of Iraq. Worth US$95 million over three years, the contract was awarded to Petrofac's Offshore Projects & Operations (OPO) business to provide maintenance engineering, maintenance execution and support services. […]
By John Lee. Iraq has selected five additional international oil companies to bid for the development of its $4.4-billion Nassiriya oil field and the construction of a new 300,000 bpd refinery, reports Reuters. The companies added to the list are: France's Maurel et Prom; Russia's Rosneft; Essar UAE India; South Korea's GS Engineering & Construction […]
By John Lee. Reuters reports that Iraq is still undecided about whether to carry out full maintenance on its Basra oil export terminals in September. According to the report this has created even more uncertainty for an oil market already worried about disruption in Libya and Egyptian unrest. Despite a report in July to the […]
Iraq's Ministry of Electricity has just promised that shortages will be eliminated by the end of the year. Readers of Iraq Business News will remember a previous commitment, made in strident terms just four months ago, to end blackouts by the end of October. Ministry spokesperson Musaib Mudaris claims the country now produces around 11,000 […]
By John Lee. The Ministry of Electricity’s 2013 budget has soared to $14 billion to help it end power outages in the country, reports Azzaman. But the ministry’s spokesperson Musaib Mudaris said the blackouts will continue until the end of the year, by which time output will reach 13,000 megawatts, enough to meet the country’s […]
By John Lee. The Iraqi Ministry of Housing and Reconstruction on Tuesday has announced a 25-billion-dinar ($21.5-million) plan to develop roads and bridges across the country. According to a report from Al-Shorfa, the plan involves building three bridges on the Euphrates in western Iraq and one in Kirkuk province. The ministry also plans to renovate […]
By John Lee. Iraqi Airways is due to receive its first new Boeing 737-800 (pictured) this week, according to KUNA. It will the first of a total of 30 aircraft to be received between now andl 2017, and includes 12 first class seats and 150 economy seats. Iraq signed the deal for the aircraft in […]
By Abdullah Salem. This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Lack of a working property registration office in Mosul means fraudsters are taking advantage of legal loopholes to sell buildings and land out from under unwitting, […]
Anbar province recently announced its completion of a 12 billion Iraqi dinar ($10.3 million) highway project linking western Iraq to Saudi Arabia. Anbar province spokesman Mohammed Fathi Hantoush explained that the highway, called the Land Pilgrimage Road, is 230 kilometres long and links central Anbar to the Saudi border at Arar border crossing. Hantoush added […]
