BAE Systems Wins $31m Iraq Deal to Refurbish APCs
BAE Systems in partnership with the Anniston Army Depot (ANAD) are refurbishing 440 M113A2 armored personnel carriers for Iraq through a foreign military sales contract worth more than $31 million. “The M113 refurbishment will give the Iraqi Army a capability which is relevant to a variety of threat environments,” said Joe McCarthy, vice president and […]
Lamprell Wins $62m Iraqi Oil-Rig Contract
Oil engineering company Lamprell has announced that it has been awarded a contract by Leighton for the fabrication of two topsides and jackets with metering skid and associated piping in connection with the Iraq crude oil export facility reconstruction. The deal is valued at USD 62 million. The works will be performed at Lamprell's Sharjah […]
Iraq 2012 Wheat Crop 10-15% Below 2011
Iraq's wheat crop is expected to decline further if rains do not arrive soon, according to a report from BlackSeaGrain. Although some small showers have helped the crop, wheat yields are already down by 11 per cent on the last seasons crop. If the rains do not arrive Iraq will most likely need to increase […]
Iraq to Buy 25,000 tons of Vegetable Oil from Egypt
The Iraqi Trade Ministry has reportedly signed a contract with the Egyptian company Arma for the purchase of 25,000 tons of vegetable oil. Hashem Hatam, the Foreign economic relations chief at the ministry, told AKnews that the oil will be distributed to civilians through the food rationing program. The quantity is sufficient for only three […]
Video: Boom Time for Kurdistan Oil
Foreign oil companies are flocking into Kurdistan, finding new oil fields and bringing hopes that the country could become a big oil producer on its own. Javier Blas, commodities editor of the Financial Times, travels across the Kurdstan region of Iraq to check whether the hopes of many oil executives are for real: Foreign oil […]
First Baghdad Industrial City Starts Construction
Baghdad's Provincial Council has started construction on the first industrial city in the Iraqi capital on Saturday, according to a report from AKnews. The council announced its plan last October to build the $250m (291bn IQD) city in Nahrawan district, to the south of Baghdad. The area is being built by the Iraqi company Majd […]
Dunia Weekly Iraq Market Tracker
Advertising Feature Iraq Business News is delighted to bring you the latest Iraq Market Tracker report from Dunia Frontier Consultants. The market tracker highlights the activities and market performance of a basket of publicly traded firms who derive a significant percentage of their revenues from operations in Iraq, but are traded on foreign exchanges: a […]
Iraq Begins Pumping to New Gulf Oil Terminal
Iraq began pumping oil to the first of five floating terminals in the Gulf on Sunday, according to AFP, and the terminal will be ready for exports in a few days. Prime Minister Nuri al-Maliki symbolically opened the valve of a pipeline that runs 535 kilometres (332 miles) from Iraq's southern oil fields to the […]
Iraq Blocks Exxon Licence Bid
ExxonMobil is to be excluded from Iraq's fourth licensing auction because of its deals in Iraqi Kurdistan. "The Iraqi government has decided that Exxon won't be allowed to participate in the next oil and gas bidding round," Faisal Abdullah, a spokesman for Iraq's Deputy Prime Minster for Energy, Hussein al-Shahristani, said on Monday. "We are […]
Iraq Warns Total over Kurdistan Deals
Following Total's statement on Friday that it was considering possible investments in Iraqi Kurdistan, Deputy Prime Minister for Energy Hussain al-Shahristani warned the French major on Sunday that it would bear the "full consequences" if it did. "The position of the Iraqi government will be the same as with the other oil companies, that no company […]
Leighton Alerts Police to Possible Bribery in Iraq
Leighton Holdings Limited (Leighton) has announced that it has reported to the Australian Federal Police (AFP) a possible breach of its Code of Ethics that, if substantiated, may contravene Australian laws. The possible breach related to payments that may have been made by Leighton’s subsidiary company, Leighton Offshore Pte. Limited, in connection with work to […]
Iraq Stock Market Report
Advertising Feature Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 9th February 2012). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at ID1,374 / $1,507, +0.2% (weekly change). The number of weekly traded shares was 28.1 bn and the weekly […]