Dhi Qar to Build Civil Airport
The technical assistant of head of Dhi Qar provincial council, Abdul Hussein Hajar, revealed that the Defense Ministry approved the allocation of part of Al Imam Ali air base to build a civil airport, subject to the approval of the Transport Ministry. The airport construction requires further legal and technical investigations in order to be […]
Halliburton's $150m Majnoon Deal
Further to our report last week Halliburton has confirmed that it has been awarded a letter of intent by Shell Iraq Petroleum Development B.V. for the development of the Majnoon field in Southern Iraq. Dow Jones suggests the contract for the 15 wells could be worth $150m. The giant Majnoon field is one of the […]
Kurdistan Seeks Oil Revenues of $25 Billion
Minister of Natural Resources in the Kurdistan Regional Government, Ashti Hawrami, announced on Thursday that his ministry seeks to increase the daily oil production in the region to 3-4 million barrels in the next four years, noting that revenues will increase during this period to $25 billion [30 trillion Iraqi dinars]. “The region has 45 […]
$42m Fine For Security Company
Xe Services, the private security company formerly known as Blackwater Worldwide, has reached an agreement with the State Department for the company to pay $42 million in fines for hundreds of violations of United States export control regulations, according to a report in the New York Times. But by paying fines rather than facing criminal […]
More Details on Petrofac Contract
More details are coming to light regarding Petrofac's new contract in Iraq, about which we reported last week. Dow Jones reports that the two crude-oil processing plants will be at Iraq's super giant Majnoon oil field, which is run by Iraq's state-run South Oil Co., Royal Dutch Shell PLC (RDSA) and Malaysia's state-run Petronas, and […]
Italians Win Giant Ports Contract
A group of Italian firms will provide advisory services to the project of the al-Faw Big Port [Grand Faw] in Basra province, southern Iraq, according to a contract with the Iraqi Transportation Ministry. The ministry reported the event in a statement on Sunday as received by Aswat al-Iraq news agency, explaining that the project will […]
Oil Companies in Iraq too Ambitious
An Iraqi oil industry veteran, Dr Thamir Al Uqaili, says there is a general belief that the production plateau targets (PPTs) of the international oil companies who have won contracts in Iraq are too ambitious and that export will face a marketing problem. The exploration of Iraq’s rich oil and gas fields will be under […]
Turkey’s Vakifbank to Open Branch in Erbil
Turkish bank Vakifbank will open a branch in the northern Iraq Kurdish city of Erbil by the end of this year, according to Turkish newspaper Hurriyet Daily on Friday. “We have submitted an application to the central Iraqi government to open a new branch of the bank in Erbil,” Suleyman Kalkan, Director General of the […]
International oil companies: Overcoming Iraq's uncertainty
By Tariq Abdell, Founder & Chairman, Mesopotamia Insight. The opinions expressed here are those of the author, and do not necessarily reflect the views of Iraq Business News. Operation New Dawn, ensuing the U.S. perspicacious plans to end combat operations in Iraq Aug. 31, underlines the U.S. commitment to a torn country that is in […]
JOBS IN IRAQ - Our New Free Service Starts Today!
We launch our new Jobs in Iraq page today on the IBN web site in response to reader demand. This is a free reciprocal service for Recruitment Agencies and Employers with jobs on offer in Iraq. For readers it provides a welcome source of employment options in a country crying out for skilled labour and […]
Weekly Security Update for 19th August 2010
National Overview This reporting period saw the levels of incidents rise by approximately 20% compared to the previous week. There was a significant rise in the number of recorded incidents in the North, North Central and Western Regions of Iraq, with the rest of the country experiencing no real change or slight reductions in the […]
Moving Into The Economic Recovery
It has been a busy week politically in Iraq, with both good and bad news emerging from the country: The last American combat brigade left the country on Thursday morning, seven years after the US-led invasion; 6,000 support troops will remain until the end of the month, and a further 50,000 will stay until the […]