Iraqi Elections: all Talk, no Walk
By Mustafa al-Kadhimi for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. With the launch earlier this month of campaigns for the April 30 parliamentary elections, Iraq is back to debating the fact that none of the political blocs has put forward an electoral […]
False Claims made by Black Diamond, Rezhwan
By John Lee. Further to the recent press release from Black Diamond, the Kurdistan Regional Government has issued a statement refuting the company's claims to have a deal to refine crude oil from Genel Energy's Taq Taq oil field. Genel Energy has also denied any knowledge of, or dealings with, Black Diamond and Rezhwan. The […]
The Need for Private Industry
As reported this morning on Iraq Business News, a former Minister for Planning has spoken out about the need to diversify the Iraqi economy away from its current dependence on oil and gas. Mahdi Al-Hafez told Asharq Al-Awsat that Iraq must adopt "a policy of diversifying the economy and developing other productive sectors such as […]
Mosul "to Refine Oil in Disputed Areas"
By John Lee. An agreement to build an oil refinery has reportedly been signed between Iraq's Mosul province and the Kurdistan Regional Government (KRG) on Monday. Governor Atheel al-Nujaifi (pictured) said: "This agreement will change Iraq's image, which is identified with war and incitement to war." (Source: Turkish Press)
HP Considers Iraq Office
By John Lee. Hewlett-Packard (HP) sees big future opportunities in Iran and Iraq. Mathew Thomas, general manager for printing and personal systems at HP Middle East, told GulfNews: “We are waiting for the green signal from the World Trade Organisation and HP worldwide to give us the direction of when ... As of now, we […]
ShaMaran Announces Atrush-4 Test Results
By John Lee. ShaMaran Petroleum has announced the results of the Atrush-4 appraisal/development well (“AT-4”) drilled in the Kurdistan Region of Iraq. The AT-4 well was spudded on October 20, 2013 using the DQE31 drilling rig and reached Total Depth of 2916m MD on January 23, 2014. The well was deviated well from the AT-1 […]
Iraq "Must End Dependence on Oil", fmr Minister
By John Lee. Iraq’s former planning minister, Mahdi Al-Hafez, has told Asharq Al-Awsat that Iraq must diversify to reduce its decades-long reliance on oil as the main contributor to its GDP. He told the news agency: “The desired tasks for economic reform require the reduction of the domination of oil revenue on the economic situation […]
Alstom Wins €225m Equipment Deal in Anbar
Alstom has been awarded a contract worth approximately €225 million to provide power generation equipment for the Al-Anbar gas-fired combined-cycle power plant being built in the Anbar province in Iraq. A consortium of Metka SA and Metka Overseas Ltd is building the power plant for the Ministry of Electricity of Iraq. The 1,642 MW power […]
Gazprom Neft selects Pipeline Contractor
Gazprom Neft, operator of the Badra oilfield development project (pictured), has appointed a contractor to lay the pipeline connecting the field to the power station in Zubaidiah (Wasit Province). The tender was won by Pakistani company Techno Engineering Services (Pvt.) Ltd. In line with the contract, Techno Engineering Services will produce the designs, supply the […]
Militants Close Euphrates River Dam
By John Lee. Militants have reportedly closed the Euphrates River dam they control in Iraq, cutting off a major source of water for central and southern Iraq. AFP reports that militants had previously cut the flow of water through the dam near the city of Fallujah several weeks ago, but reopened it when water accumulated […]
Black Diamond, Rezhwan Refinery Joint Venture
By John Lee. [UPDATE: Further to the press release shown below, the Kurdistan Regional Government has issued a statement refuting the company’s claims to have a deal to refine crude oil from Genel Energy‘s Taq Taq oil field. Genel Energy has also denied any knowledge of, or dealings with, Black Diamond and Rezhwan. The full […]
Daewoo Wins $589m Gas Separation Contract
By John Lee. Iraq's cabinet has approved an $589 million oilfield service contract with South Korea's Daewoo Engineering & Construction. The contract, approved on Tuesday, is for the engineering, procurement and construction of a gas separation facility at the Zubair oilfield. Production at the field is planned to increase from the current 320,000 barrels per […]