Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. An Iraqi parliamentary committee has asked the Commission of Integrity to investigate the contract awarded to Satarem to build a $6-billion refinery in Maysan. Iraq Business News' Expert Blogger Ahmed Mousa Jiyad recently questioned the legitimacy of the contract signed with the Swiss company, prompting the Ministry of Oil to issue a statement […]
By John Lee. Korea's STX Heavy Industries has won a $449 million order to build a 550-kilometer gas pipeline in northwestern Iraq. The pipeline, scheduled for completion in June 2017, will take gas from the Akkas gas field in Anbar, which is operated by Korea's KOGAS. (Source: STX)
By Ahmed Mousa Jiyad. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. For the third year in a row the National Secretariat of the Iraqi Extractive Industry Transparency Initiative (IEITI) has succeeded in releasing its annual report on time. This year Report exhibits significant […]
By John Lee. The Iraqi-Extractive Industries Transparency Initiative (IEITI) report for year 2011 has been published by an independent and international reconciler firm Ernst & Young. The report considers for the first time the quantities of crude oil used for local consumption and the paid revenues by the Extractive Oil Companies (National & International). It […]
By John Lee. China's Caixin has reported that the Missan Oil Company (MOC) has suspended all activities of a company called Hermic, an oilfield service company controlled by former executives of the China National Petroleum Corp. (CNPC). Hermic is said to have won at least 12 engineering outsourcing contracts worth US$75 million from CNPC at the […]
By Mushreq Abbas for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. In an interview with Al-Monitor, Basra governor Majid al-Nasrawi confirmed that his city had contracted a British security consulting firm (whose name he would not disclose before the completion of the contract) […]
By John Lee. Turkish Energy Minister Taner Yildiz (pictured) said today that Kurdish oil has started flowing to the Turkish port of Ceyhan via the new pipeline, but it will not be shipped to world markets without agreement from Baghdad. According to Reuters, the Minister said he hopes a deal allowing exports to begin can […]
According to Iraq Oil Report, the Ukrainian firm K&M Ltd. is tipped to win a $230-million contract to replace one of the two pipelines of the Iraq-Turkey Pipeline (ITP). If the firm has been selected by the North Oil Company (NOC) as its preferred contractor, the decision would still need the endorsement of the Oil […]
The deputy head of the National Iranian Drilling Company (NIDC), Mohammad Reza Takayedi, has said that an agreement has been signed under which Iranian drilling engineers will train Iraqi technicians. Tayakedi also said that the NIDC is seeking to operate drilling projects on an engineering, procurement and drilling (EPD) basis. The NIDC operates over 70 drilling […]
By John Lee. Canada's SNC-Lavalin has announced that it has been awarded a contract by the Iraq Ministry of Oil's State Company for Oil Projects (SCOP) to provide engineering services for the Iraq Export Pipeline Project. Working closely with SCOP, SNC-Lavalin will provide front-end engineering design (FEED); long-lead items tendering and evaluation; and engineering, procurement […]
By John Lee. The Head of Iran's Petrochemical Research and Technology Company (PRTC), Gholam Reza Jokar, has said the company is negotiating the export of services to Iraq. He said he hoped that a final deal for exporting PRTC services to Iraq will be reached soon, adding that Iraqi officials have shown interest in Iranian […]
By John Lee. John Crane, part of Smiths Group, has announced it will supply Italian pump designer Termomeccanica Pompe (TMP) products from across the company’s portfolio for the development of the Zubair Oil Field, one of largest in Iraq. The agreement covers mechanical seals and systems, high-performance couplings and hydrodynamic bearings used in the 24 centrifugal […]
