Iraqi Drilling Company invites to bid for supplying spare part for Drilling and Work over Rigs type Emsco
Iraqi Drilling Company , one of the Iraqi ministry of oil establishments , invites to bid for supplying (mechanical-electrical ) spare part for Drilling and Work over Rigs type Emsco , in accordance with the conditions and specifications , which can be obtained from the purchasing department at the Baghdad's headquarter. The bidder will pay […]
New Tenders From North Gas Company
North Gas Company announces the below tenders: -Automatic Titration instrument last model with determination oh H2S,RSH,COS in petroleum productions & gases , total acid number , total base number for oils , acid base titration for aqueous . For further information please click on this link. -Spare for SRU 4700 UV flame detector adjustable sensivity ultraviolet […]
BP Rewrites Rumaila Oil Contract
The 2009 contract between BP and the Iraqi government for oil production at the Rumaila oil field has been quietly rewritten in favour of the oil giant, according to Aknews. the Iraqi government will now continue to pay BP when production is affected by civil disruption, disruption in oil transportation, political decisions or OPEC cuts. […]
Iraq Pumps Billions into Industrial Sector
Iraq has put US$2bn into renewing its industry over the past three years, according to Reuters. In an effort to wean itself from its reliance on oil revenues, the country is giving a boost to some of its 260 factories. "Most of our factories were losers," said Adel Karim, a deputy minister of industry and minerals. "Now […]
Syria Next to Sign Iraqi Trade Deal
Everywhere from Northern Ireland to China have sought bilateral agreements to benefit from the rapid growth of Iraq. Now it is Syria's turn. Mohammed Nidhal, Syria's minister of trade, headed to Iraq with a delegation of more than 100 Syrian businessmen. The two countries pledged to increase trade between them. Khayrullah Babakir, Iraqi minister of trade, said "The […]
Iraqi Reparations Moving Rapidly
The UN has approved the release of another US$1bn from the reparations fund that compensates Kuwaiti businesses, government bodies and international organisations for losses due to Iraq's invasion of Kuwait in 1990. Iraq has now repaid more than $33bn of its $52bn due in damages claims. The $1bn comes from a 5% cut of Iraqi oil […]
Crisis Talks To Avert War with Kuwait
Iraqi prime minister Nouri al-Maliki and his Kuwaiti counterpart, Naser al-Subah, have been talking directly by telephone to try to prevent a diplomatic crisis from worsening. A spokesperson for Maliki said on Monday that Kuwait had shown "more flexibility" in ongoing discussions over a new Kuwaiti port. Mubarak Port, due to be completed in 2016, […]
Afren Pays $588m for Kurdish Oilfields
Afren has announced the acquisition of interests in two contiguous Production Sharing Contracts ("PSCs") located in the Kurdistan region of Iraq. The Company has agreed to acquire an operated 60 per cent. participating interest in the Barda Rash PSC from Komet Group S.A. ("Komet") and a non-operated 20 per cent. participating interest in the Ain […]
Petroceltic and Hess to Explore in Kurdistan
Petroceltic International, the Irish-based AIM and ESM listed oil and gas exploration and production company focused on North Africa, the Middle East and the Mediterranean, has announced that, in partnership with Hess Middle East New Ventures, a subsidiary of Hess Corporation, it has executed two Production Sharing Contracts ("PSCs") with the Kurdistan Regional Government of […]
New Production Sharing Contract for ShaMaran
ShaMaran Petroleum has announced that its wholly owned subsidiary ShaMaran Petroleum BV (“ShaMaran BV”) has exercised its option under an Option Agreement signed in July 2009 with the Kurdistan Regional Government (KRG), to enter into a Production Sharing Contract (PSC) in respect of the Taza Block (formerly Block K42) in the Kurdistan Region of Iraq, […]
Foreign Investors Flock to Iraq
By David Rosenberg, for The Media Line. Reproduced with permission by Iraq Business News. It was just another day in Iraq on July 15. In the city of Kerbaba; two car bombs killed a total of seven people and wounded 19. An American solider was killed in Baghdad while in another part of the capital […]
Finance Clouds Utilities Push
The following article was published in the latest edition of Inside Iraqi Politics, and it is reproduced here with the publisher’s permission. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Full Text of Inside Iraqi Politics Issue No. 19 (PDF) The government’s aggressive energy […]