Maliki to Visit White House
By John Lee. Prime Minister Nouri al-Maliki is to meet US President Barack Obama at the White House on 1st November. The White House said the talks would focus on a US-Iraq Strategic Framework Agreement (SFA) that governs relations between the country following the final US troop withdrawal in 2011. A White House statement said […]
Basra Export Terminal Fully Reopened
By John Lee. Iraq has reopened all four of the crude loading berths at the al-Basra Oil Terminal (ABOT), according to a report from Platts. Two of the terminal's four jetties were shut in September to allow the installation of a jacket for a new platform in the Gulf to feed four Single Point Moorings. […]
BGR Energy Signs $246m Deal
By John Lee. BGR Energy Systems has signed a contract with the Ministry of Electricity for engineering, procurement and construction (EPC) of four 125-MW gas-fueled power project at Nasiriya. The Economic Times reports that the contract is valued at $246 million and includes the scope of engineering, procurement and construction services of BOP, civil works […]
Amarinth Wins Further Orders at Zubair
By John Lee. Amarinth, a leading company specialising in the design, application and manufacture of centrifugal pumps and associated equipment to the Oil & Gas, petrochemical, chemical and industrial markets, has secured a new order in Iraq to supply a further eight API 610 OH2 A-Series pumps to the Zubair Initial Production Facility. Last year, […]
Sinopec is Dealt a Setback in Iraq
By John Lee. China Petrochemical Corporation, also known as Sinopec, is still unable to participate in projects in central and southern Iraq four years after it acquired a project in northern Kurdistan, reports the Wall Street Journal. The company held talks with Russia's Lukoil about jointly developing the West Qurna-2 oil field, but Lukoil's chief […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 10th October 2013). Note: ISX will be closed starting from October 14, 2013 (Monday) due to Eid al-Adha Holiday. The next trading session will be held on October 20, 2013 (Sunday). Please click here to download a table of listed companies and their […]
Faruk Group, Acibadem Sign Medical City Deal
A cooperation agreement has been signed with the Acıbadem Healthcare Group towards the management and operations of the Medical City complex, established by the Faruk Group to provide modern healthcare services. As per the agreement made by Faruk Mustafa Rasool, Chairman of the Board of Faruk Group, and Mr Mehmet Ali Aydınlar, Chairman of the […]
Kurd Leader Says there is Fear of Civil War
From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. The leader of Iraqi Kurdistan says there is "real fear" that sectarian violence in Iraq could escalate into civil war. The autonomous region's president Massud Barzani was talking to AFP in an exclusive interview:
DNO Sets New Record at Tawke
By John Lee. DNO International has announced today that it has initiated sales from its second horizontal well in the Tawke field in the Kurdistan region of Iraq following testing at a new record rate of 32,500 barrels of oil per day. Each of ten independent fracture corridors penetrated by a 930-meter horizontal section in […]
Unaoil joins Leighton in Denying Iraq Allegations
By John Lee. The Australian reports that the company at the centre of the Leighton Holdings bribery allegations has denied any involvement in corruption in Iraq, or having links to the Oil Minister and Prime Minister. Unaoil, which is based in Monaco, was alleged to have been paid kickbacks by Leighton to secure an oil […]
Canada to Open Embassy Office in Erbil
The new Canadian Ambassador to Iraq and Jordan, Mr Bruno Saccomani, said his country has a six-month plan to strengthen ties with the Kurdistan Region and aims to open an embassy office in Erbil next year. In his meeting with President Masoud Barzani, Ambassador Saccomani announced plans to considerably increase bilateral ties between both sides. […]
Ministry of Culture Curtails Performing Arts
By Ali Abdulameer for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The activities that have begun to move forward in the Iraqi cultural scene continue to be afflicted by the woes inherent in a complete reliance on the government, as was the case […]